Disappointment with the failure of the ECB to increase government bond purchases sent the markets tumbling to a sharply lower close with the Dow sinking 198 points to 11,997. Nasdaq plummeted 52 points to 2596.
On the upside
Shares of LDK Solar (NYSE: LDK) continued climbing after selling 500 million yuan of 3-year bonds.
Talbots’ (NYSE: TLB) largest institutional investor, Oppenheimer, said that Sycamore Partners’ $3 per share acquisition offer was too low.
G-III (Nasdaq: GIII) reported higher third quarter earnings that topped analyst estimates as revenue climbed.
On the downside
Eastman Kodak (NYSE: EK) paid $217,000 to lobby the federal government in the third quarter.
The Food and Drug Administration proposed suspending some of Invacare’s (NYSE: IVC) operations for failing to comply with quality standard requirements.
Investors locked in profits on McClathcy (NYSE: MNI), whose stock price climbed yesterday on news that advertising revenue began to recover this quarter.
In the broad market, declining issues outpaced advancers by a margin of more than 6 to 1 on the NYSE and by nearly 6 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks stumbled 23 points to 722.
