China’s factory sector contracted in November sending domestic markets tumbling to a sharply lower open with the Dow plunging 181 points to 11,312. Nasdaq plummeted 52 points to 2469.
On the upside
Fourth quarter earnings and revenue climbed for Deere & Co. (NYSE: DE) to surpass analyst expectations.
The Food and Drug Administration approved Boston Scientific’s (NYSE: BSX) PROMUS Element Plus Everolimus-Eluting Platinum Chromium Coronary Stent System.
TiVo (Nasdaq: TIVO) widened third quarter losses but the results were better than expected.
On the downside
Herb Greenberg of CNBC reported that the death of Diamond Foods (Nasdaq: DMND) audit committee member Joseph Silveira committed suicide.
Shares of Groupon (Nasdaq: GRPN) continued falling after rival online discount site LivingSocial announced a national Black Friday campaign yesterday.
FBR Capital downgraded Frontline (NYSE: FRO) to an Underperform rating.
In the broad market, declining issues outpaced advancers by a margin of nearly 10 to 1 on the NYSE and by more than 7 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks tumbled 11 points to 684.
