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US Markets open in the red on financial weaknesses

February 4th, 2008

The news of various brokerage firms giving their list of downgrades and upgrades has pulled the financials into the red as most of the US stock indices opened the Monday morning in the red.

NASDAQ, DJIA are down 0.62%, S&P 500 is down 0.73%, Russell 1000 is down 0.73%. Most advancing stocks on the NASDAQ include Sigmatel, Inc., Carmike Cinemas, Inc. , SunOpta, Inc. , Labopharm Inc. , and Synutra International, Inc.

Sigmatel, Inc.(SGTL), a company into analog intensive, mixed-signal integrated circuits (ICs) for the digital multimedia market and a small cap stock on the NASDAQ, has gained attention this morning after news that Freescale is paying $110 million, or $3.00 per share in cash, to acquire the small integrated circuits designer. The stock is at $2.85; +1.06 (59.22%) at 9:59AM ET

Entry Filed under: Equity Markets, Global Markets