The nation's economy grew in the fourth quarter but at a slower than expected pace. The markets closed mixed with the Dow dropping 74 points to 12,660 while Nasdaq gained 11 points to 2816.
On the upside
The Paragon Report said that Sina (Nasdaq: SINA) will increase its revenue as more Chinese begin using the Internet. More than half a billion Chinese used the Internet in 2011.
Despite strict government regulation, approximately 40% of China's population, more than 500 million people, used the Internet in 2011. Shares of social networking site Renren (NYSE: RENN) surged.
First Solar (Nasdaq: FSLR) was listed by a Seeking Alpha contributor as one of five solar stocks to own.
On the downside
Robert Half (NYSE: RHI) reported higher fourth quarter earnings and revenue but the results fell short of expectations.
Fourth quarter earnings dropped for Chubb (NYSE: CB) due to hurricane losses.
Legg Mason (NYSE: LM) blamed a restructuring charge for sharply lower third quarter earnings.
In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 3 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 5 points to 798.
The markets traded mixed during the midday with the Dow falling 73 points to 12,661 after Fitch downgraded the credit ratings for Italy, Spain, Belgium and Slovenia. Nasdaq rose 6 points to 2811.
On the upside
Emulex (NYSE: ELX) reversed year ago losses to post a better than expected profit for the second quarter and forecast third quarter results that topped analyst estimates.
Shares of United Continental (NYSE: UAL) continued rising after reporting a narrower than expected loss for the fourth quarter yesterday.
Newell Rubbermaid (NYSE: NWL) reported higher fourth quarter earning that topped expectations.
On the downside
Inergy (NYSE: NRGY) will evaluate its operating business in light of a challenging market conditions prompting downgrades.
Shares of Nokia (NYSE: NOK) continued falling after reporting a fourth quarter loss yesterday.
Third quarter earnings dropped for Cirrus Logic (Nasdaq: CRUS).
In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 3 on the NYSE and by more than 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 4 points to 797.
The nation's economy expanded at a lower than expected 2.8% annual pace in the fourth quarter to weigh the markets down to a lower open with the Dow dropping 74 points to 12,660. Nasdaq edged up a fraction to 2806.
On the upside
Eastman Chemical (NYSE: EMN) will pay approximately $3.38 billion in cash and stock to acquire Solutia (NYSE: SOA).
Cepheid (Nasdaq: CPHD) fell to a loss for the fourth quarter but the results surpassed analyst expectations and the company forecast 2012 results well ahead of estimates.
Informatica (Nasdaq: INFA) reported higher fourth quarter earnings that topped estimates and expects its pipeline to rise in the first quarter.
On the downside
Riverbed Technology (Nasdaq: RVBD) reported higher fourth quarter earnings as revenue climbed but the company warned of a drop in the growth of its Steelhead product line in the first quarter.
Ford (NYSE: F) reported sharply higher fourth quarter earnings due to an accounting change but the results fell short of analyst expectations.
Juniper Networks (NYSE: JNPR) disappointed with lower fourth quarter earnings and forecast first quarter results that fell far short of expectations.
In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 4 on the NYSE while decliners edged out advancers by a slim margin on Nasdaq. The Russell 2000 which tracks small cap stocks edged up a fraction to 793.
Sales of new homes dropped to a record low in 2011 to weigh the markets down to a lower close with the Dow losing 22 points to 12,734. Nasdaq fell 13 points to 2805.
On the upside
A magistrate judged has been assigned to Star Scientific's (Nasdaq: CIGX) patent infringement suit against RJ Reynolds for a possible settlement.
United Rentals (NYSE: URI) reversed year ago losses to post a better than expected profit for the fourth quarter as revenue climbed.
United Continental (NYSE: UAL) narrowed fourth quarter losses more than expected as expenses related to the merger of United and Continental dropped.
On the downside
Fourth quarter earnings surged for Cypress Semiconductor (Nasdaq: CY) but the company warned of lower first quarter revenue.
Quantum (NYSE: QTM) reported lower third quarter earnings as revenue slipped.
Exco Resources (NYSE: XCO) chairman and chief executive Douglas H. Miller sold nearly 1.2 million shred of common stock.
In the broad market, declining issues barely edged out advancers by a slim margin on the NYSE while decliners outpaced advancers by nearly 5 to 4 on Nasdaq. The Russell 2000 which tracks small cap stocks slipped 2 points to 792.
The markets traded mixed during the midday with the Dow rising 14 points to 12,771 as a drop in December new home sales tempered strong corporate earnings. Nasdaq lost 7 points to 2811.
On the upside
J.C. Penney (NYSE: JCP) announced a new pricing strategy and logo and will redesign the layout of its stores.
US Airways (NYSE: LCC) retained the services of Millstein & Co., Barclays and Latham & Watkins to explore the possible acquisition of bankrupt American Airlines.
PTC (Nasdaq: PMTC) reported higher first quarter earnings that topped analyst estimates.
On the downside
An appeals court granted Amphastar a stay in a patent infringement suit filed by Momenta Pharmaceuticals (Nasdaq: MNTA).
Carbo Ceramics (NYSE: CRR) reported higher fourth quarter earnings but the results fell far short of analyst expectations.
Fourth quarter earnings dropped for Covance (NYSE: CVD) as gross margin fell prompting a downgrade.
In the broad market, advancing issues outpaced decliners by a margin of more than 4 to 3 on the NYSE while decliners edged out advancers by nearly 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a fraction to 794.
Upbeat earnings lifted the markets to a higher open with the Dow gaining 50 points to 12,807. Nasdaq rose 5 points to 2823.
On the upside
Amgen (Nasdaq: AMGN) will pay approximately $1.16 billion in cash to acquire Micromet (Nasdaq: MITI).
Netflix (Nasdaq: NFLX) reported lower fourth quarter earnings but the video subscription service added 600,000 customers prompting an upgrade.
LSI (NYSE: LSI) narrowed fourth quarter losses and forecast first quarter results ahead of estimates.
On the downside
Fourth quarter earnings for SanDisk (Nasdaq: SNDK) tumbled as expenses climbed and the flash memory maker warned of weakness in the first half of 2012.
Goldman Sachs downgraded E-trade Financial (Nasdaq: ETFC) after the online brokerage fell to an unexpected fourth quarter loss.
Monster Worldwide (NYSE: MWW) reported higher fourth quarter earnings but the results fell short of expectations and the recruitment firm announced the elimination of 400 jobs.
In the broad market, advancing issues outpaced decliners by a margin of more than 2 to 1 on the NYSE and by more than 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks added 2 points to 797.
Investors welcomed the Federal Reserve's decision to maintain low interest rates until at least 2014 by lifting the markets to a high close with the Dow climbing 83 points to 12,758. Nasdaq soared 31 points to 2818.
On the upside
Fourth quarter earnings slipped for US Airways (NYSE: LCC) but the results surpassed analyst expectations by a wide margin and the airliner confirmed that it was exploring the possibility of merging with bankrupt American Airlines.
Societe Generale upgraded Encana (NYSE: ECA) to a Buy rating.
Rising gold prices lifted shares of U. S. Gold (NYSE: UXG), Iamgold (NYSE: IAG) and Yamana Gold (NYSE: AUY).
On the downside
Motorola Solutions (NYSE: MSI) reported lower fourth quarter earnings and forecast current quarter earnings below expectations.
Fourth quarter earnings rose for RPC (NYSE: RES) but the results fell short of analyst expectations and the company warned that lower natural gas production this year will negatively impact earnings.
RockTenn (NYSE: RKT) reported lower first quarter earnings that fell short of analyst expectations.
In the broad market, advancing issues outpaced decliners by a margin of more than 3 to 1 on the NYSE and by 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 7 points to 795.
The Federal Reserve's announcement that it will maintain low interest rates until at least 2014 lifted the markets higher during the midday with the Dow rising 47 points to 12,722. Nasdaq climbed 26 points to 2812.
On the upside
CA (Nasdaq: CA) reported higher third quarter earnings and revenue that beat expectations and lifted its full year guidance.
Fourth quarter earnings surged for Delta Air Lines (NYSE: DAL) to handily beat analyst expectations as the company increased ticket prices.
Tempur-Pedic International (NYSE: TPX) reported higher fourth quarter earnings that topped analyst estimates and forecast 2012 results ahead of expectations.
On the downside
Fusion-io (NYSE: FIO) narrowed second quarter losses but the company warned of lower margins in the current quarter.
Xerox (NYSE: XRX) reported fourth quarter earnings that more than doubled but revenue fell short of expectations.
Hess (NYSE: HES) fell to a loss for the fourth quarter.
In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 2 on the NYSE and by more than 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 5 points to 793.
The markets opened mixed with the Dow dropping 79 points to 12,595 as pending home sales fell. Apple's impressive earnings lifted Nasdaq 4 points to 2791.
On the upside
Roche announced a $5.7 billion hostile bid for Illumina (Nasdaq: ILMN).
First quarter earnings more than doubled for Apple (Nasdaq: AAPL) to beat analyst expectations by a wide margin on strong iPhone sales and forecast current quarter results ahead of estimates.
Textron (NYSE: TXT) swung to a loss for the fourth quart but the results were better than expected and the company forecast 2012 results above analyst expectations.
On the downside
Corning (NYSE: GLW) disappointed with sharply lower fourth quarter earnings and warned that the company will lower glass prices this quarter.
Fourth quarter earnings for WellPoint (NYSE: WLP) tumbled to fall short of analyst expectations as expenses climbed.
LM Ericsson (Nasdaq: ERIC) reported sharply lower fourth quarter earnings as gross margin fell.
In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 3 on the NYSE and by more than 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks slipped 2 points to 786.
The markets closed mixed with the Dow losing 33 points to 12,675 as upbeat earnings tempered fears of a Greek default. Nasdaq added 2 points to 2786.
On the upside
Synovus Financial (NYSE: SNV) reversed year ago losses to post a profit for the fourth quarter as loan loss provisions dropped.
Waters (NYSE: WAT) reported higher fourth quarter earnings that topped analyst estimates as revenue rose.
Lee Enterprises (NYSE: LEE) will exit Chapter 11 bankruptcy on January 30.
On the downside
TCF Financial (NYSE: TCB) blamed lower banking fees for a sharp drop in fourth quarter earnings.
The threat of a possible default by Greece weighed down shares of National Bank of Greece (NYSE: NBG).
STMicroelectronics (NYSE: STM) swung to a loss for the fourth quarter as revenue dropped to fall short of expectations.
In the broad market, advancing issues outpaced decliners by a margin of more than 10 to 9 on the NYSE and by more than 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks rose 5 points to 788.
