Languishing Consumer Confidence Weighs Down Markets

November 24, 2009 10:46 AM |
Consumer confidence continued to languish in October while the nation's economic growth was revised downward.  The markets traded lower during the midday with the Dow falling 39 points to 10,411. Nasdaq dropped 12 points to 2163.

On the upside

Fourth quarter earnings for Nuance Communications (Nasdaq: NUAN) topped analyst estimates.

Analog Devices (NYSE: ADI) reported fourth quarter earnings and revenue that beat expectations prompting upgrades.

European Union regulators appear poised to accept an offer made by Rambus (Nasdaq: RMBS) to settle antitrust charges.

On the downside

dELiA*s (Nasdaq: DLIA) swung to a loss for the third quarter even as revenue rose.

Borders (NYSE: BGP) blamed lower sales for a bigger than expected loss for the third quarter.

Although Genesco (NYSE: GCO) reported higher third quarter results that topped estimates, the company forecast fourth quarter results below expectations.

In the broad market, declining issues outpaced advancers by a margin of more than 5 to 3 on the NYSE and by more than 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks fell 5 points to 589.

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This page contains a single entry by published on November 24, 2009 10:46 AM.

Markets Open Lower As Economic Growth Revised Downward was the previous entry in this blog.

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