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European Debt Concerns Weigh Down Markets
Monday February 08, 2010 - 08:53 AM EST
Concerns about European debt weighed down the markets to a lower open with the Dow falling 32 points to 9979. Nasdaq slipped a point to 2139.
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Concerns about European debt weighed down the markets to a lower open with the Dow falling 32 points to 9979. Nasdaq slipped a point to 2139.
On the upside CVS Caremark (NYSE: CVS) reported higher fourth quarter earnings that topped analyst estimates. A weekend Barron's article said that if Motorola (NYSE: MOT) spun off its cellphone business, the company's stock could soar 40%. Fourth quarter earnings for Hasbro (NYSE: HAS) climbed to beat expectations on higher sales. On the downside The Food and Drug Administration will select an advisory panel to review Cell Therapeutics' (Nasdaq: CTIC) lymphoma treatment pixantrone due to safety concerns. Seanergy Maritime (Nasdaq: SHIP) terminated its agreement to acquire a 2009 Capesize vessel. A newspaper article reported that LLoyds Banking (NYSE: LYG) is in discussions to sell its Integrated Finance unit. In the broad market, declining issues outpaced advancers by a margin of nearly 9 to 7 on the NYSE and by 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a fraction to 592.
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