Markets Lower As Home Sales Fall
Falling home sales and another drop in the the gross domestic product sent the markets down to a lower close with the Dow tumbling 100 points to 8419. Nasdaq lost 11 points to 1522.
On the upside
Motely Fool spotlighted IMAX (Nasdaq: IMAX) as a good buy in 2009.
BlueLinx Holdings (NYSE: BXC) will repurchase up to $10 million worth of common stock over a two year period.
Casey Murphy of Investopedia.com wrote that Merck (NYSE: MRK) has been trending downwards throughout 2008 and is poised to recover in 2009.
On the downside
Sterne Agee initiated coverage of Bank of America (NYSE: BAC) with a Sell rating.
AsiaInfo Holdings (NYSE: ASIA) registered with the Securities and Exchange Commission to sell shares of its common stock.
In the broad market, declining issues outpaced advancers by a margin of more than 3 to 2 on the NYSE and by nearly 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 6 points to 469.
