Stocks are continuing their sell off in midday trading as the Greece deal collapses. Other euro zone countries, Germany in particular, are calling on Greece to cut even more costs if they want to receive another bailout package. Now there are reports that one of the parties in Greece has withdrawn support for additional austerity measures. This news has caused the major stock indexes to fall more than 0.5% today. The Dow is down 113 points, the Nasdaq is down 17 points and the S&P is down 9 points.
Bank of America Corporation (NYSE:BAC) is down nearly 1% in midday trading at $8.10. BAC has traded 155.1 million shares so far today and usually trades 278.3 million shares a day on average. BAC shares are down with the overall market today. Bank of America received a subpoena from the Massachusetts securities regulator today due to the company’s involvement in two loan securities that cost investors $150 million. The company has a market cap of 85.18 billion.
Cisco Systems, Inc. (NASDAQ:CSCO) is down 0.70% today at $19.86. CSCO has traded 35.7 million shares so far today and trades 47.7 million shares a day on average. CSCO shares are up about $1.50 a share since the beginning of the year. The company has a market cap of 106.93 million.
Sirius XM Radio Inc. (NASDAQ:SIRI) is down 1.83% in midday trading at $2.14. SIRI has traded 35.6 million shares so far today and trades 54.4 million shares a day on average. Sirius posted fourth quarter results yesterday. The company posted a $71.3 million profit in the fourth quarter, last year it posted a loss. Sirius is expecting to at 1.3 million new subscribers in 2012, fewer than the 1.7 million added in 2011. The company has a market cap of 8.04 billion.
General Electric Company (NYSE:GE) is down 1.16% today at $18.91. GE has traded 26.3 million shares today and trades 58.5 million shares a day on average. GE shares are up about $0.50 on the year. The company has a market cap of 199.91 billion.
Microsoft Corporation (NASDAQ:MSFT) is down 0.67% in midday trading at $30.57. MSFT has traded 23 million shares today and trades 54.3 million shares a day on average. MSFT shares are up more than $3 a share since the start of 2012. The company has a market cap of 256.79 billion.
Oracle Corporation (NASDAQ:ORCL) is down 1.59% today at $28.43. ORCL has traded 19.7 million shares so far today and trades 32.1 million shares a day on average. ORCL shares are up nearly $3 over the past month. The company has a market cap of 142.88 billion.
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