Markets Fall Over Global Economic Concerns
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 upside
Raymond 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 downside
BancorpSouth (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.
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