Continued concerns about the European debt crisis weighed the markets down to a lower open with the Dow dropping 67 points to 11,887. Nasdaq fell 31 points to 2579.

On the upside

Broadcom (Nasdaq: BRCM) lifted its fourth quarter revenue guidance.   

Analysts upgraded Avon Products (NYSE: AVP) after the cosmetics company announced a search for a new chief executive to replace Andrea Jung, who will remain as chairman. 

Delta Air Lines (NYSE: DAL) forecast 2011 earnings above analyst estimates.

On the downside

First Solar (Nasdaq: FSLR) blamed weather delays for slashing its 2011 earnings and revenue forecast. 

Shares of Green Mountain Coffee Roasters (Nasdaq: GMCR) continued falling over concerns that its single serve K-cup business was losing market share. 

Joy Global (NYSE: JOY) reported higher fourth quarter earnings but warned that future production will increase at a more tempered pace.

In the broad market, declining issues outpaced advancers by a margin of nearly 4 to 1 on the NYSE and by more than 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 8 points to 709.