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Investors Monitor European Developments, Markets Trade Lower
Posted on May 09, 2012 at 13:08 PM EDT
The markets recovered earlier losses but continued trading lower with the Dow tumbling 83 points to 12,849 as investors monitored political developments in Europe. Nasdaq fell 10 points to 2935.
On the upside
Investors snapped up shares of Jaguar Mining (NYSE: JAG) after the company announced a restructuring plan yesterday.
Dean Foods (NYSE: DF) reported higher first quarter earnings and forecast current quarter as well as full year results ahead of estimates.
First quarter earnings rose for Accretive Health (NYSE: AH) as revenue surged to beat expectations.
On the downside
Energy Solutions (NYSE: ES) disappointed with a loss for the first quarter.
MercadoLibre (Nasdaq: MELI) reported higher first quarter earnings and revenue but the results missed estimates prompting a downgrade.
XOMA (Nasdaq: XOMA) widened first quarter losses as revenue dropped.
In the broad market, declining issues outpaced advancers by a margin of more than 2 to 1 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks lost 2 points to 790.
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