Record home foreclosures sent the markets tumbling during the midday with the Dow plummeting 143 points to 12,112. Nasdaq plunged 25 points to 2248.
On the upside
The American Cancer Society released new colorectal cancer screening guidelines that include Exact Sciences' (Nasdaq: EXAS) stool sample testing technology.
H&R Block (NYSE: HRB) narrowed third quarter losses as revenue rose and backed its full year guidance.
Shares of Tessera Technologies (Nasdaq: TSRA) rose after the company clarified that recent actions by an International Trade Commission judge did not overturn its patents.
On the downside
Omrix Biopharmaceuticals (Nasdaq: OMRI) blamed higher costs for fourth quarter earnings that plunged to fall far short of estimates.
Coldwater Creek (Nasdaq: CWTR) swung to a fourth quarter loss as foot traffic declined and the retailer held more clearance sales. The company also warned of greater than expected losses for the first quarter.
Shares of mortgage REIT Annaly Capital Management (NYSE: NLY) plummeted on news that European mortgage-backed securities investment firm Carlyle Capital received a default notice for failing to meet margin calls.
In the broad market, declining issues outpaced advancers by a margin of more than 4 to 1 on the NYSE and by nearly 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 9 points to 674.
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