Markets Down Over Jobless Claims

January 28, 2010 10:32 AM | | TrackBacks (0)
The markets extended its losses during the midday with the Dow dropping 90 points to 10,145 as initial applications for jobless claims fell less than expected. Nasdaq tumbled 38 points to 2182. 

 

On the upside

Green Mountain Coffee Roasters (Nasdaq: GMCR) reported lower first quarter earnings but the results topped analyst estimates and revenue surged.

Shares of IFM Investments (NYSE: CTC) surged in its market debut.

Solutia  (NYSE: SOA) reversed year ago losses to post a profit for the fourth quarter as sales rose and the company expects revenue to increase between 5% to 10% in 2010.

On the downside

National Penn (Nasdaq: NPBC) blamed greater loan loss provisions for widening losses for the fourth quarter.

Although LSI (NYSE: LSI) swung to a profit for the fourth quarter, the company offered a disappointing forecast.

While Textron (NYSE: TXT) narrowed fourth quarter losses, the company forecast 2010 results well below expectations.

In the broad market, declining issues edged out advancers by a margin of more than 3 to 1 on the NYSE and by nearly 7 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 9 points to 608.

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This page contains a single entry by published on January 28, 2010 10:32 AM.

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