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Still No Deal For Greece, Markets Tumble
Posted on January 30, 2012 at 13:24 PM EST
Greece's failure to finalize a deal with creditors sent the markets down during the midday with the Dow tumbling 82 points to 12,577. Nasdaq lost 13 points to 2803. On the upside A Seeking Alpha contributor wrote that Arena Pharmaceuticals (Nasdaq: ARNA) has an upside potential of 300% in 2012. Shares of Chinese social networking site Renren (NYSE: RENN) surged over reports that Facebook may file for for its initial public offering this Wednesday.
The Wall Street Journal reported that Delta Air Lines (NYSE: DAL) may be exploring the possible acquisition of US Airways (NYSE: LCC). On the downside The Federal Trade Commission sued to block Omnicare's (NYSE: OCR) $440.8 million acquisition of PharMerica (NYSE: PMC). Emcore (Nasdaq: EMKR) announced a one for four reverse stock split.
TheStreet upgraded YPF Sociedad Anonima (NYSE: YPF) to a Buy rating but the stock price fell. In the broad market, declining issues outpaced advancers by a margin of nearly 3 to 1 on the NYSE and by nearly 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks fell 7 points to 791. Related Stocks:
Arena Pharmaceuticals, Inc.
Delta Air Lines
Dow Jones Industrial Average
Dow Jones Industrial Average (EOD)
Emcore Corp
NASDAQ 100
NASDAQ Composite
NYSE COMPOSITE INDX
Omnicare, Inc.
PharMerica
Renren
Russell 1000 Index
Russell 2000
Russell 3000 Index
Standard & Poors 500
US Airways Group, Inc.
YPF S.A. ADS
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