Greek officials continued discussions with lenders and European leaders to finalize an agreement to receive additional bailout funds. The markets opened lower with the Dow losing 19 points to 12,825 while Nasdaq fell 8 points to 2893.
On the upside
Fourth quarter earnings for Coinstar (Nasdaq: CSTR) nearly tripled to surpass analyst expectations by a wide margin as more people used its Redbox DVD rental kiosks.
BioMimetic Therapeutics (Nasdaq: BMTI) reported positive results from its Augment Rotator Cuff Graft clinical trial.
Standard Pacific (NYSE: SPF) reversed year ago losses to post a better than expected profit for the fourth quarter.
On the downside
TheStreet listed BioSante Pharmaceuticals (Nasdaq: BPAX) as one of six overvalued biotech stocks saying that it does not have any viable products in its pipeline.
Colfax (NYSE: CFX) blamed acquisition related expenses for falling to a loss for the fourth quarter.
A Food and Drug Administration staff report said that NeurogesX's (Nasdaq: NGSX) HIV pain patch Qutenza may be ineffective.
In the broad market, declining issues outpaced advancers by a margin of more than 5 to 3 on the NYSE and by more than 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 4 points to 823.
