Concerns about a slowdown of the Chinese economy sent the markets tumbling to a sharply lower close with the Dow plunging 125 points to 12,695. Nasdaq plummeted 31 points to 2902.
On the upside
Ventrus Biosciences (Nasdaq: VTUS) reported positive results from a late stage clinical trial of its anal fissure treatment diltiazem.
Shares of Horizon Pharma (Nasdaq: HZNP) continued rising after reporting a narrower first quarter loss last week.
Golf Town will pay a premium of approximately $96.5 million in cash to acquire Golfsmith International Holdings (Nasdaq: GOLF).
On the downside
Investors locked in profits on Melco Crown Entertainment (Nasdaq: MPEL), whose stock price rose last week after reporting higher first quarter results that beat analyst expectations.
First quarter earning rose for Silver Wheaton (NYSE: SLW) but the results fell short of expectations.
Iamgold (NYSE: IAG) disappointed with lower first quarter earnings and revenue.
In the broad market, declining issues outpaced advancers by a margin of more than 5 to 1 on the NYSE and by nearly 7 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks tumbled 11 points to 778.
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