Lower Close As GDP Slips
A contraction of the nation's economy in the fourth quarter weighed the markets down to a lower close with the Dow falling 44 points to 13,910. Nasdaq lost 11 points to 3142.
On the upside
Endo Health Solutions (Nasdaq: ENDP) engaged in acquisition discussions with potential suitors.
Robert Half International (NYSE: RHI) reported higher fourth quarter earnings that topped analyst estimates.
Meru Networks (Nasdaq: MERU) narrowed fourth quarter losses more than expected as revenue climbed.
On the downside
Velti (Nasdaq: VELT) webcast its 2013 Analyst Day today. Profit taking sank shares of Peabody Energy (NYSE: BTU).
LDK Solar (NYSE: LDK) chief executive Xiaofeng Peng will sell 394,000 shares of com pay stock.
In the broad market, declining issues outpaced advancers by a margin of more than 5 to 3 on the NYSE and by nearly 5 to 2 on Nasdaq. The broader S&P 500 index lost 5 points to 1501.
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