Despite a stronger than expected increase in new home sales last month, the markets extended its losses during the midday with the Dow diving 189 points to 18,042. Nasdaq plunged 54 points to 5,034.
On the upside
Bargain hunters snapped up shares of FXCM (NYSE: FXCM).
Hot Topic will pay a premium of approximately $122 million to acquire Geeknet (Nasdaq: GKNT).
An affiliate of SFX Entertainment (Nasdaq: SFXE) chief executive Robert F.X. Sillerman will take the company private in a deal valued at approximately $774 million.
On the downside
Shares of Jumei International Holding (NYSE: JMEI) extended its losses.
Investors locked in profits on Shake Shack (NYSE: SHAK).
Concerns that Greece may not reach a deal to restructure its debt weighed down shares of National Bank of Greece (NYSE: NBG).
In the broad market, declining issues outpaced advancers by a margin of more than 4 to 1 on the NYSE and by 7 to 2 on Nasdaq. The broader S&P 500 tumbled 20 points to 2105. Bitcoin added $1 to $237.
Markets extend losses despite strong new home sales
May 26, 2015 at 13:45 PM EDT
