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Jobless Claims Fall Less Than Expected, Markets Open Lower

The markets opened lower with the Dow losing 28 points to 10,538 as initial jobless claims fell less than expected. Nasdaq slipped 3 points to 2355.

On the upside

BioSante Pharmaceuticals (Nasdaq: BPAX) reported upbeat results from a clinical trial of its leukemia vaccine GVAX.

Imax (Nasdaq: IMAX) reversed year ago losses to post a profit for the fourth quarter due to blockbuster movies such as Avatar.

Synovus Financial (NYSE: SNV) declared a quarterly dividend of a penny per share payable on April 1, 2010 to shareholders of record March 18, 2010.

On the downside

Grant Thornton International resigned from its appointment as the indepenent accounting firm for Yuhe International (Nasdaq: YUII).

China Security & Surveillance Technology (NYSE: CSR) announced a public offering of 20 million common shares.

Jackson Hewitt Tax Service (NYSE: JTX) disappointed with a third quarter loss and warned that it may fail to comply with the financial covenants of its credit facility.

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