The markets extended its losses during the midday with the Dow collapsing 203 points to 12,758 over renewed fears of a Greek default. Nasdaq plummeted 43 points to 2906.

On the upside

The American Medical Association Current Procedural Terminology Panel approved Vermillion’s (Nasdaq: VRML) Category 1 CPT code application for its OVA1 test to differentiate benign versus malignant ovarian masses. 

Harvest Natural Resources (NYSE: HNR) reported a 33% increase in oil production in 2011 at its Venezuelan affiliate Petrodelta.

Robert W. Baird upgraded OmniVision Technologies (Nasdaq: OVTI) to an Outperform rating over expectations that the company will provide camera technology for Apple’s (Nasdaq: AAPL) iPad3.

On the downside

Mechel OAO (NYSE: MTL) named Yuri Yampolsky to the position of chief executive officer.   

RAIT Financial Trust (NYSE: RAS) priced its public offering of 6.95 million common shares at the discounted price of $5.30 per share. 

ZELTIQ Aesthetics (Nasdaq: ZLTQ) widened fourth quarter losses even as revenue soared.

In the broad market, declining issues outpaced advancers by a margin of 10 to 1 on the NYSE and by more than 5 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks plummeted 15 points to 788.