European debt concerns continued to plague the markets with the Dow plummeting 131 points to 11,823. Nasdaq plunged 39 points to 2539.
On the upside
The Food and Drug Administration approved a supplemental new drug application for ViroPharma's (Nasdaq: VPHM) Vancocin.
Medicare Administrative Contractor Palmetto will begging reimbursing for TranS1's (Nasdaq: TSON) AxiaLIF beginning on January 1, 2012.
Endeavour International (NYSE: END) has terminated agreements to acquire Marcellus Shale assets from SM Energy (NYSE: SM).
On the downside
BioSante Pharmaceuticals (Nasdaq: BPAX) reported that its LibiGel failed two Phase III clinical trials.
Shares of Terex (NYSE: TEX) continued to fall after a jury ruled against the company last week in a patent infringement suit.
Sequans Communications (NYSE: SQNS) slashed its fourth quarter revenue guidance and forecast a wider loss.
In the broad market, declining issues outpaced advancers by a margin of 5 to 2 on the NYSE and by nearly 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 9 points to 708.
