Lower Close On Drop In Business Productivity
The markets closed lower with the Dow falling 42 points to 13,944 as the nation's business productivity fell a greater than expected 2% in the fourth quarter. Nasdaq slipped 3 points to 3165.
On the upside
Fourth quarter earnings slipped for Advance Auto Parts (NYSE: AAP) but the results were better than expected.
Bloomberg reported that Cablevision Systems (NYSE: CVC) was close to finalizing a deal to sell its Optimum West business to Charter Communications.
True Religion Apparel (Nasdaq: TRLG) reported lower fourth quarter earnings but revenue rose and the results beat analyst expectations.
On the downside
Accuray (Nasdaq: ARAY) widened second quarter losses as revenue fell.
Ann (NYSE: ANN) warned that fourth quarter revenue would fall short of expectations due to a drop in same store sales.
Monster Worldwide (NYSE: MWW) blamed the challenging global economy for falling to a loss for the fourth quarter.
In the broad market, declining issues outpaced advancers by a margin of nearly 3 to 2 on the NYSE and by nearly 5 to 3 on Nasdaq. The broader S&P 500 index slipped 2 points to 1509.
Stock Market XML and JSON Data API provided by FinancialContent Services, Inc.
Nasdaq quotes delayed at least 15 minutes, all others at least 20 minutes.
Markets are closed on certain holidays. Stock Market Holiday List
By accessing this page, you agree to the following
Press Release Service provided by PRConnect.
Stock quotes supplied by Telekurs USA
Postage Rates Bots go here