Thursday, March 21, 2013 – Major Stock Market Headlines, Biggest Stock Losers, Highest Stock Gainers, Top Advancers & Decliners.
Stock Market Headlines
All three major stock averages declined across the board with the DJIA ending down 90.24 points. The Nasdaq fell 0.97% to close at 3,222.60 while the S&P 500 fell 0.83%.
“Stock losses accelerated late in the session as anxiety about Cypriot finances increased. Just before the U.S. market's close, Standard & Poor's cut Cyprus' sovereign credit rating deeper into junk status.”
There were 1,963 stock decliners on the NYSE versus 1,027 advancers (See below table). On the Nasdaq, there were 2 decliners for each advancing stock.
- Scholastic Corp (SCHL) was the biggest stock loser across the NYSE and Nasdaq. The stock plunged 13.90% to close the day at $26.75 after the firm reported a higher than expected loss.
- Shares of Dex One Corporation stock (DEXO) fell 11.82%, making it the second biggest loser. Today’s plunge is in addition to the 13.62% decline in the stock price yesterday.
- Movado Group (MOV) was next in line with its stock dropping 10.48% to be the third top loser across the Nasdaq and NYSE. The company reported a better than expected Q4 forecast. The stock, however, declined due to a weaker than expected profit forecast.
- Anacor Pharmaceuticals stock (ANAC) soared 26.04% making it the highest gainer (by percentage points) across the NYSE and Nasdaq. Investors rushed to buy ANAC shares after the firm reported “positive results from a Phase 2 dose-ranging trial (AN2728-AD-204) of its topical boron-based phosphodiesterase-4 (PDE-4) inhibitor, AN2728.”
- ACADIA Pharmaceuticals (ACAD) stock was the next highest gainer. The stock soared 23.91% to close at $8.24. Similar to what happened with Anacor, investors scrambled to purchase ACAD shares after the firm reported positive results of its later-stage Parkinson's disease psychosis study.
- Shares of Enanta Pharmaceuticals (ENTA) stock were the third highest gainers, rising 22.71% to end the day at $17.18. As reported by Investor.com, “Biotech Enanta Pharmaceuticals (ENTA) priced at the low end of its expected range at $14 Wednesday night, but in mid-morning trading Thursday it was already past the top of its range, above 16.”
Good luck in your investing. Let us know if you have any questions, comments or feedback,
MarketConsensus Stock Analysis Team
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