European Protests May Derail Necessary Austerity Measures

The markets traded lower during the midday with the Dow losing 16 points to 10,841 over concerns that protests in Europe will derail financial measures necessary to shore up unstable economies. Nasdaq slipped 4 points to 2375.

On the upside

Satcon (Nasdaq: SATC) entered a strategic manufacturing agreement with GCL Solar Systems to produce Satcon's PowerGate Plus solar PV inverters at a new GCL Solar plant in Nanjing, China.

Mad Money's Jim Cramer said that Cirrus Logic (Nasdaq: CRUS) stock is poised to double.

Acoustic hailing device maker LRAD (Nasdaq: LRAD) secured a $17.6 million military services contract for a foreign government.

On the downside

FalconStor Software (Nasdaq: FALC) president, chief executive and chairman ReiJane Huai resigned over allegations of improper payments made to one client.

Sealy (NYSE: ZZ) blamed higher expenses and lower sales for a third quarter loss.

In its first financial report since the corporate scandal in January 2009, Satyam (NYSE: SAY) disappointed with losses for fiscal 2010.

In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 4 on the NYSE and by more than 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks added 2 points to 678.

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