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Greece May Exit Euro Zone, Markets Drop
Posted on May 25, 2012 at 18:46 PM EDT
Despite a greater than expected increase in consumer sentiment, the markets closed lower with the Dow dropping 74 points to 12,454 over fears that Greece may exit the euro zone. Nasdaq slipped a point to 2837.
On the upside
Frontline (Nasdaq: FRO) swung to a better than expected profit for the first quarter.
Bollinger Report selected Career Education (Nasdaq: CECO) as a high momentum stock among the service industry.
Axcelis Technologies (Nasdaq: ACLS) affirmed its second quarter outlook.
On the downside
TheStreet Ratings downgraded Maxwell Technologies (Nasdaq: MXWL) to a Sell rating.
LDK Solar (NYSE: LDK) chief executive Peng Xiaofeng said that U. S. tariffs on Chinese solar imports would be challenging.
HSBC lowered its price target on Suntech Power Holdings (NYSE: STP).
In the broad market, advancing issues outpaced decliners by a margin of nearly 10 to 9 on the NYSE while advancers barely edged out decliners by a slim margin on Nasdaq. The Russell 2000 which tracks small cap stocks eased a fraction to 766.
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