Markets Close Lower Over Weak Economic Data

November 24, 2009 1:40 PM |
A downward revision of the nation's economic growth along with a weak reading of consumer confidence weighed the markets down to a modestly lower close with the Dow slipping 17 points to 10,433. Nasdaq lost 6 points to 2169.

On the upside

Third quarter earnings for DSW (NYSE: DSW) more than doubled to beat expectations by a wide margin prompting .

Zale (NYSE: ZLC) reported a narrower than expected loss for the first quarter.

U. S. Airways (NYSE: LCC) announced that it will delay taking delivery of 54 new jets in order to increase its cash reserves.

On the downside

Shares of Brown Shoe (Nasdaq: BWS) fell even though the company reported higher earnings that beat expectations.

Fourth quarter earnings for Hillenbrand (NYSE: HI) rose but revenue dropped and the company forecast 2010 results below estimates.

Sprint Nextel (NYSE: S) completed its acquisition of Virgin Mobile USA.

In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 4 on the NYSE and by more than 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 2 points to 592.

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This page contains a single entry by published on November 24, 2009 1:40 PM.

Languishing Consumer Confidence Weighs Down Markets was the previous entry in this blog.

Drop In Jobless Claims Lifts Markets is the next entry in this blog.

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