The markets recovered earlier loses but still closed sharply lower with the Dow sinking 108 points to 11,401 as Greece's finance minister continues negotiations with creditors tomorrow. Nasdaq lost 9 points to 2612.
On the upside
MedQuist Holdings (Nasdaq: MEDH) raised its performance goals for the 2011 and announced a $25 million stock repurchase plan.
Starbucks (Nasdaq: SBUX) will focus expansion plans in Latin America.
Tyco International (NYSE: TYC) announced that it will separate into three publicly traded companies.
On the downside
Shares of CNinsure (Nasdaq: CISG) continued falling after an investment group led by chief executive Yinan Hu withdrew its offer to take the company private.
Concerns that Greece may default on its debt weighed down Morgan Stanley (NYSE: MS), Citigroup (NYSE: C) and Bank of America (NYSE: BAC).
Yahoo (Nasdaq: YHOO) officer David Filo sold nearly $2.5 million worth of stock.
In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 2 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 12 points to 702.
