Continued concerns about debt problems in Europe sent the markets tumbling to a sharply lower open with the Dow plunging 113 points to 10,978. Nasdaq dropped 25 points to 2509.
On the upside
Amarin (Nasdaq: AMRN) reported positive results from a Phase III clinical trial of its very high triglyceride treatment AMR101.
Mellanox Technologies (Nasdaq: MLNX) will pay approximately $218 million in cash to acquire Voltaire (Nasdaq: VOLT).
AMAG Pharmaceuticals (Nasdaq: AMAG) reached an agreement with the Food and Drug Administration to update the product label for its chronic kidney disease treatment Feraheme to include a warning about life threatening side effects.
On the downside
Wunderlich downgraded A123 Systems (Nasdaq: AONE).
Stillwater Mining (NYSE: SWC) announced a secondary offering of 37 million common shares.
Royal Philips Electronics (NYSE: PHG) introduced its Ingenuity CT technology to improve image quality with low dose imaging but the stock price fell.
In the broad market, declining issues outpaced advancers by a margin of more than 4 to 1 on the NYSE and by nearly 4 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks tumbled 11 points to 721.
