HPC Market Watch

Markets Collapse Over Weak Job Creations

The markets extended its losses during the midday with the Dow collapsing 273 points to 12,119 as employers created fewer jobs than expected in May. Nasdaq sank 77 points to 2750.

On the upside

Goldcorp (NYSE: GG), Iamgold (NYSE: IAG) and Newmont Mining (NYSE: NEM) all climbed as gold prices advanced.

Shares of Rosetta Genomics (Nasdaq: ROSG) continued rising in anticipation of the release of clinical data for its miRview products at the American Society of Clinical Oncology 2012 Annual Meeting from June 1-5, 2012.

Beacon Federal (Nasdaq: BFED) will be acquired by Berkshire Hills (Nasdaq: BHLB) in a deal valued at approximately $132 million.

On the downside

Disappointing jobs data weighed down shares of homebuilders PulteGroup (NYSE: PHM), D. R. Horton (NYSE: DHI) and Lennar (NYSE: LEN).

QuickLogic (Nasdaq: QUIK) priced its public offering of 4.5 million common shares and warrants to purchase up to 2.025 million common shares at $2.50 per unit.

Stifel Nicolaus downgraded Synacor (Nasdaq: SYNC) from a Buy to a Hold rating.

In the broad market, declining issues outpaced advancers by a margin of 6 to 1 on the NYSE and by nearly 5 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks plummeted 21 points to 740.

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