Disappointing Durable Goods Orders Weigh Down Markets

January 28, 2010 6:41 AM |
Durable goods orders edged up by a disappointingly small 0.3% in December to weigh down the markets to a lower open with the Dow falling 68 points to 10,167. Nasdaq dropped 26 points to 2194. 

 

On the upside

Netflix (Nasdaq: NFLX) impressed with sharply higher fourth quarter earnings that surpassed analyst estimates as the movie rental subscription company added over 1.1 million customers.

Eastman Kodak (NYSE: EK) reversed year ago losses to post its first profit in more than a year as revenue rose and margins improved.

Fourth quarter earnings rose to top estimates for Nokia (NYSE: NOK) even as sales slipped.

On the downside

While first quarter earnings for Qualcomm (Nasdaq: QCOM) more than doubled, the telecom forecast current quarter results below expectations.

Tetra Tech (Nasdaq: TTEK) reported higher first quarter earnings but cut its full year outlook.

Motorola (NYSE: MOT) reversed year ago losses to post a profit for the first quarter but the company forecast disappointing phone sales for 2010.

In the broad market, declining issues edged out advancers by a margin of more than 5 to 3 on the NYSE by nearly 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks fell 5 points to 612.

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This page contains a single entry by published on January 28, 2010 6:41 AM.

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