The markets extended its losses during the midday with the Dow plummeting 197 points to 11,296 despite a gain in consumer sentiment as investors kept a wary eye on the European debt crisis. Nasdaq sank 50 points to 2470.
On the upside
Oppenheimer analyst Chris Kotowski defended Jefferies Group (NYSE: JEF) against an Egan-Jones Ratings assertion that Jefferies revenue will drop.
Yingli Green Energy (NYSE: YGE) swung to a loss for the third quarter but the results were better than expected.
Royale Energy (Nasdaq: ROYL) announced yesterday that it made two more natural gas discoveries in its core area.
On the downside
The Bedford Report issued a research report on HyperDynamics (NYSE: HDY) saying that the company's warning that it may never generate revenue frightened investors.
According to The Bedford Report, China's announcement last month that it will increase regulation of online social media sites will negatively impact usage of Renren (NYSE: RENN).
Pandora Media (NYSE: P) reversed year ago losses to post a better than expected profit for the third quarter investors were disappointed that the company forecast current quarter results within analyst expectations.
In the broad market, declining issues outpaced advancers by a margin of nearly 8 to 1 on the NYSE and by nearly 6 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks plunged 17 points to 678.
