Wholesale Prices Soar, Markets Slip
On the upside
Mad Money's Jim Cramer recommended Fluor (NYSE: FLR) citing the company's significant backlog.
Steak n Shake (NYSE: SNS) reversed year ago losses to post a profit for the fourth quarter as revenue rose.
TheStreet.com recommended that investors sell Dell (Nasdaq: DELL) but the stock price rose.
On the downside
Nasdaq notified Cyclacel Pharmaceuticals (Nasdaq: CYCC) that it was not in compliance with the $10 million market capital requirement for listing on the exchange.
Gilead Sciences' (Nasdaq: GILD) high blood pressure medication darusentan failed a late stage clinical trial.
The International Air Transport Association widened its expected losses for the airline industry sending shares of UAL (Nasdaq: UAUA) and Continental Airlines (NYSE: CAL) tumbling.
In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 3 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks lost 3 points to 606.
