Comments by Eurogroup president Jeroen Dijsselbloem that the Cyprus bailout plan of tapping bank shareholders and bondholders to finance a bailout package could be a model for other struggling nations sent the markets tumbling to a lower close with the Dow dropping 64 points to 14,447. Nasdaq fell 9 points to 3235.
On the upside
Canaccord Genuity analyst Jonathan Dorsheimer upgraded Veeco Instruments (Nasdaq: VECO) to a Buy rating.
ZaZa Energy (Nasdaq: ZAZA) formed a joint venture to develop its Eaglebine assets and announced plans to sell 10,000 acres of property in Texas.
Needham initiated coverage of Galena Biopharma (Nasdaq: GALE) with a Buy rating.
On the downside
Profit taking sank shares of Halozyme Therapeutics (Nasdaq: HALO) whose stock price soared on Friday after receiving a Positive Opinion from the European Medicines Agency.
USG (NYSE: USG) amended its stockholder rights plan.
PGT (Nasdaq: PGTI) majority shareholder JLL Partners Fund IV LP may sell part of its 62% stake in the residential window and door maker.
In the broad market, declining issues outpaced advancers by a margin of more than 3 to 2 on the NYSE and by nearly 10 to 9 on Nasdaq. The broader S&P 500 index lost 5 points to 1551.
Nasdaq quotes delayed at least 15 minutes, all others at least 20 minutes.
Markets are closed on certain holidays. Stock Market Holiday List
By accessing this page, you agree to the following
Press Release Service provided by PRConnect.
Stock quotes supplied by Six Financial
Postage Rates Bots go here