Frontier Airlines Holdings, Inc. (NASDAQ: FRNT) plummeting due to bankruptcy filing this morning prompted by its principal credit card filer, First Data, who moved to withhold ticket revenues from the airline. The small Denver-based airliner does not plan to discontinue operations and believes it can obtain necessary funding to prevent it from going completely under. Shares are down almost 70% to $0.48. Bye bye.

General Electric Company (NYSE: GE) posted disappointing results and decreased profit forecast projections, dragging the market down. The company showed double-digit losses in many major businesses. Shares are down $12.8% at $32.05 on 364 million shares.

MSCI Inc. (NYSE: MXB), down on announcement that Morgan Stanley is to sell 28 million shares of its common stock at penny a share par-value and may end up completely divesting all its shares. They also posted quarter results showing a 17% drop in net income. Shares are down almost 2% at $27.93.

National City Corporation (NYSE: NCC) down on news that the Canadian-based Bank of Nova Scotia has jumped into the bidding process. The company is under pressure from regulators to secure capital or to find buyers before they post first quarter results later this month. They were hit hard by the housing mortgage crisis. Shares are down by 5% to $8.45.

PDL BioPharma Inc. (NASDAQ: PDLI) up after announcing plans to spin-off biotech assets into a separate publicly traded company. The also declared a special $502 cash dividend. Shares are up $almost 17% at $13.69.

Revlon Inc. (NYSE: REV) were down on news that the Board has approved a reverse stock split at a 10:1 ratio. They also provided preliminary financial results showing smaller quarterly losses compared to last year. Shares are down $only 2% right at the close after dropping by 11% at one point.