The markets closed lower with the Dow plunging 97 points to 12,835 over concerns that Spain may have to infuse its banks with capital. Nasdaq dropped 11 points to 2934.
On the upside
Speculation that Avon (AVP) may receive another acquisition offer from Coty lifted shares of the beauty products company.
Credit Suisse initiated coverage of Phillips 66 (PSX) with an Outperform rating and a price target of $42.
On the downside
Kronos Worldwide (KRO) reported sharply higher first quarter earnings that beat analyst expectations but the company warned that raw materials expenses are expected to soar.
First quarter earnings slipped for FTI Consulting (FCN) to fall far short of analyst estimates.
Shares of Amedisys (AMED) continued falling after reporting sharply lower first quarter earnings yesterday.
In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 3 on the NYSE and by more than 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks fell 4 points to 788.
|Mon, May 20, 2013|
|06:07 PM||Investors Lock In Profits|
|03:00 PM||Profit Taking Weighs Down Markets|
|10:42 AM||Mixed Open After Records Last Week|
|Fri, May 17, 2013|
|06:22 PM||Records For Fourth Consecutive Week|
|03:02 PM||Markets Rise As Consumer Sentiment Climbs|
|10:42 AM||High Open As Consumer Sentiment Climbs|
|Thu, May 16, 2013|
|06:29 PM||Economic Data Weighs Down Markets|
|02:20 PM||Markets Rise On Upbeat Earnings|
|10:42 AM||Mixed Open As Jobless Claims Rise|
|Wed, May 15, 2013|
|06:43 PM||Record Dow Close Again|
|01:23 PM||Rise In Homebuilder Confidence Lifts Markets|
|11:30 AM||Lower Open As Factory Output Drops|
|Tue, May 14, 2013|
|06:27 PM||Another Dow Record As Investor Confidence Grows|
|01:03 PM||Investor Optimism Lifts Markets|
|10:42 AM||Higher Open On Lower Import Prices|
|Mon, May 13, 2013|
|06:07 PM||Mixed Close Over Stimulus Concerns|
|01:34 PM||Markets Mixed As Retail Sales Rise|
|10:43 AM||Stimulus May End, Markets Open Lower|
|Fri, May 10, 2013|
|06:31 PM||Another Winning Week|
|02:06 PM||Mixed Markets As Investors Monitor Global Developments|
|11:33 AM||Mixed Open After Record Week|
|Thu, May 09, 2013|
|06:01 PM||Markets Retreat From Record Highs|
|03:13 PM||Markets Rise As Jobless Claims Drop|
|10:42 AM||Markets Retreat After Yesterday's Record Close|
|Wed, May 08, 2013|
|06:08 PM||Upbeat Earnings Boost Markets To Another Record|
|01:46 PM||Dow Advances Further Into Record Territory|
|10:42 AM||Mixed Open After Record Close Yesterday|
|Tue, May 07, 2013|
|06:21 PM||Record Day For Dow, S&P 500|
|01:35 PM||Dow Tops 15,000|
|10:43 AM||Mixed Open As Investors Monitor Earnings|
|More News From MarketMinute.com Market Updates|