Slowdown In Hiring Weighs Down Markets
Posted on April 09, 2012 at 14:10 PM EDT
The markets traded lower during the midday with the Dow plunging 105 points to 12,954 as hiring slowed in March. Nasdaq tumbled 27 points to 3052.
On the upside
MagicJack VocalTec (Nasdaq: CALL) expects to report record earnings and revenue for the first quarter.
A Seeking Alpha contributor expects e-Commerce China Dangdang's (NYSE: DANG) Pinterest-based applications to broaden the company's mobile e-commerce presence and enhance user experience.
KSL Capital Partners raised its offer for Great Wolf Resorts (Nasdaq: WOLF) to a premium of $7 per share as the bidding war for the family entertainment resort company continued.
On the downside
Susquehanna downgraded Centene (NYSE: CNC) to a Neutral rating after the healthcare company lost its bid to administer Ohio's Medicaid program.
JMP Securities downgraded Mitek Systems (Nasdaq: MITK) to a Market Perform rating.
ClickSoftware (Nasdaq: CKSW) warned that first quarter revenue will fall short of expectations.
In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 1 on the NYSE and by more than 5 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks sank 14 points to 804.
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