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Markets Plummet As Dutch Government Collapses

The collapse of the Dutch government sent the markets plummeting to a sharply lower close with the Dow plunging 102 points to 12,927. Nasdaq tumbled 30 points to 2970.

On the upside

Hedge fund Jana Partners acquired a 12.5% stake in Barnes & Noble (NYSE: BKS).

Ramesh Gulati of Gulati Asset Management highlighted specialty MRI equipment firm Fonar (Nasdaq: FONR) as one of a number of health care companies that will benefit from aging baby boomers.

Central European Distribution (Nasdaq: CEDC) and Russian Standard formed a strategic alliance.

On the downside

Time Warner Cable (NYSE: TWX) did not renew its network connections contract with Otelco (Nasdaq: OTT).

Kellogg (NYSE: K) blamed weakness in Europe for lowering its full year outlook.

Hyperdynamics (NYSE: HDY) will provide a first quarter business update on Thursday, May 10, 2012.

In the broad market, declining issues outpaced advancers by a margin of more than 5 to 2 on the NYSE and by nearly 7 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 12 points to 791.

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