Stocks Slumped On Greek Political Turmoil (ARCC, HSIC, ARNA, NOK, BIDU)

U.S. stocks fell sharply Tuesday for the fifth straight session, as Greece’s struggle to form a government intensified worry about the euro-zone debt crisis.In Greece, political leaders met for a second day in an effort to create a government after New Democracy’s Antonis Samaras was unable to reach a consensus, with the task now falling to Alexis Tsipras, the head of Syriza, the party that received the second most votes.

The Dow Jones Industrial Average fell -148.38 (-1.14%) to 12,860.15, and the Standard & Poor's 500-stock index fell -16.96 (-1.24%) at 1,352.62. Both benchmarks are on pace to fall for the fourth session in a row. The Nasdaq Composite lost -43.18 (-1.46%) to 2,914.58.

Ares Capital Corporation (NASDAQ:ARCC) today announced that it has entered into an amended and restated senior secured revolving credit facility with certain lenders, which, among other things, increased the size of the Facility from $810 million to $900 million, extended the Facility's revolving period from January 2013 to May 2015 and extended the final maturity from January 2013 to May 2016, including a one year amortization period beginning in May 2015.
Henry Schein, Inc. (NASDAQ:HSIC) reported first-quarter net income of $80.8 million or $0.89 per share, from $76.50 million or $0.82 per share in the year ago quarter. Adjusted net income for the first quarter of 2012 was $89.1 million or $0.98 per share. Net sales were $2.1 billion, up from $1.95 billion in the same quarter last year. Analysts expected the company to report earnings of $0.91 per share on revenue estimate of $2.03 billion for the quarter.
Looking forward, the company now estimates fiscal 2012 to be $4.30 to $4.40. This compares with previous guidance for diluted EPS to be $4.25 to $4.34.Arena Pharmaceuticals, Inc.(NASDAQ:ARNA) shares soared 16%
K12 Inc.(NYSE:LRN) plunged 10% after its FQ3 report highlights that costs are on the rise at the tech-based education firm. While revenue shot up a healthy 36.8% Y/Y to $178.2M, instructional expenses ran up at a 36% clip and product development expenses increased 40%.Baidu.com, Inc. (ADR)(NASDAQ:BIDU) extended its fall was down another 1.52% with the broader market. The stock has plunged over 15% since reporting its quarterly earnings two weeks ago.
Nokia Corporation (ADR)(NYSE:NOK) was bucking the market trend and rose 1.10% to $3.24after Ericsson (ERIC) and Nokia Siemens Networks late Monday bagged a major contract from T-Mobile in the U.S., to provide equipment and services for its planned high-speed mobile broadband network.

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