Markets Flat As European Growth Declines
The markets traded near the flatline with the Dow losing 14 points to 13,968 as growth declined in Europe for the third quarter in a row. Nasdaq added a point to 3198.
On the upside
Alpha Natural Resourcs (NYSE: ANR) narrowed fourth quarter losses more than expected.
Wall Street Cheat Sheet listed SunPower (Nasdaq: SPWR) as one of five solar stocks with a strong earnings trend.
Angie's List (Nasdaq: ANGI) reversed year ago losses to post a better than expected profit for the fourth quarter and forecast current quarter revenue ahead of estimates.
On the downside
US Airways (NYSE: LCC) will merge with bankrupt American Airlines parent AMR in an $11 billion stock deal to become that nation's largest airline.
Ulta Salon (Nasdaq: ULTA) chief executive Chuck Rubin resigned prompting a downgrade.
In the broad market, declining issues outpaced advancers by a margin of more than 10 to 9 on the NYSE while advancers edged out decliners by nearly 5 to 4 on Nasdaq. The broader S&P 500 index edged up a fraction to 1521.
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