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Prolonged Recession For Greece, Markets Close Mixed
Posted on February 21, 2012 at 17:22 PM EST
The markets closed mixed with the Dow adding 15 points to 12,965 over concerns that the Greek economy will remain in a prolonged recession. Nasdaq slipped 3 points to 2948. On the upside Shareholders approved the merger of Eldorado Gold (NYSE: EGO) with European Goldfields. FuelCell Energy (Nasdaq: FCEL) rose on speculation that the company may supply fuel cells for Apple's (Nasdaq: AAPL) solar powered data center in North Carolina.
Shares of Polypore International (NYSE: PPO) advanced ahead of its earnings release tomorrow. On the downside The Food and Drug Administration suspended drug trials of GTx's (Nasdaq: GTXI) prostate cancer treatment Capesaris due to an increased risk of bloom clots. FDATracker.com expects the Food and Drug Administration to reject Vivus' (Nasdaq: VVUS) obesity treatment Qnexa.
Boyd Gaming (NYSE: BYD) narrowed fourth quarter losses but the results fell short of analyst expectations. In the broad market, declining issues outpaced advancers by a slim margin on the NYSE and by more than 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 5 points to 823.
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