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Falling Home Prices Weigh Down Markets
Tuesday November 10, 2009 - 12:43 PM EST
Falling home prices weighed down the markets during the midday with the Dow losing 17 points to 10,209. Nasdaq fell 10 points to 2143.
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Falling home prices weighed down the markets during the midday with the Dow losing 17 points to 10,209. Nasdaq fell 10 points to 2143.
On the upside Third quarter earnings for Talecris Biotherapeutics (Nasdaq: TLCR) surged as revenue rose. Moody's Investors Service said that American International Group's (NYSE: AIG) restructuring plan is working and that the insurance company should be able to repay the government. Argus upgraded Health Management Associates (NYSE: HMA) to a Buy rating. On the downside RHI Entertainment (Nasdaq: RHIE) widened third quarter losses by a wide margin as revenue plunged. ParkerVision (Nasdaq: PRKR) reported a third quarter loss and priced its offering of 8 million common shares at $2 per share. Ambac Financial (NYSE: ABK) warned that it may not be able to meet debt obligations in 2011 forcing the bond insurer to possibly file for bankruptcy. In the broad market, declining issues outpaced advancers by a margin of more than 2 to 1 on the NYSE and by nearly 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks fell 7 points to 584.
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