Lower Close As Investors Eye Europe
August 21, 2012 at 10:17 AM EDT
The markets retreated to close lower with the Dow dropping 68 points to 13,203 as investors continued to monitor developments in Europe. Nasdaq lost 8 points to 3067.On the upsideJetBlue (Nasdaq: JBLU) chief executive Dave Barger’s comment that the airliner was not interested in acquiring bankrupt American Airlines boosted shares of US Airways (NYSE: LCC). Acquisition rumors lifted shares of OCZ Technology (Nasdaq: OCZ).Rising gold prices lifted shares of Eldorado Gold (NYSE: EGO).On the downsideShares of RadioShack (NYSE: RSH) fell after Best Buy (NYSE: BBY) reported a sharp plunge in second quarter earnings. UBS affirmed its Buy rating on GT Advanced Technologies (Nasdaq: GTAT).The lockup period for 52.7 million shares of Yelp (NYSE: YELP) expires on August 29.In the broad market, declining issues outpaced advancers by a margin of nearly 9 to 7 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks eased a point to 815.
