Disappointing Jobs Data Weighs Down Markets
July 06, 2012 at 02:43 AM EDT
A disappointing job creation report sent the markets tumbling to a sharply lower open with the Dow plummeting 152 points to 12,744. Nasdaq plunged 37 points to 2938.On the upsideShares of Arena Pharmaceuticals (Nasdaq: ARNA) continued rising after announcing the promotion of Craig Audet yesterday to the position of Senior Vice President of Operations and Head of Global Regulatory Affairs.US Airways (NYSE: LCC) unveiled a “30 Days for D.C.” campaign to celebrate expanded service at Reagan National Airport and the addition of 100 new jobs.ABC Mart of Japan will pay approximately $137 million to acquire LaCrosse Footwear (Nasdaq: BOOT).On the downsideInformatica (Nasdaq: INFA) warned that second quarter earnings would fall far short of its previous guidance.Acme Packet (Nasdaq: APKT) blamed weakness in North America for warning that second quarter results will fall short of expectations.Investors locked in profits on Patriot Coal (NYSE: PCX).In the broad market, declining issues outpaced advancers by a margin of more than 5 to 1 on the NYSE and by nearly 5 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 9 points to 808.
