Markets Fall Over Global Economic Concerns
November 26, 2012 at 04:36 AM EST
The markets traded lower during the midday with the Dow tumbling 86 points to 12,922 as European debt concerns and fiscal cliff worries weighed down investor sentiment. Nasdaq lost 3 points to 2963.On the upsideRaymond James upgraded James River Coal (Nasdaq: JRCC) to an Outperform rating.Zhongpin (Nasdaq: HOGS) chairman and chief executive Xianfu Zhu will take the pork products producer private in an all cash deal valued at approximately $418 million.3D Systems (NYSE: DDD) launched its next generation ProJet 3500 HDMax and CPX Max series of 3D printers.On the downsideBancorpSouth (NYSE: BXS) appointed James Rollins III to the position of chief executive officer to replace retiring chief executive Aubrey Patterson.Generac Holdings (NYSE: GNRC) announced a secondary offering of 11.5 million common shares.Oppenheimer analyst Pamela Quintiliano said that foot traffic was disappointing for Ann (NYSE: ANN) over the Thanksgiving weekend.In the broad market, declining issues outpaced advancers by a margin of more than 2 to 1 on the NYSE and by a margin of more than 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks slipped 2 points to 804.