Markets Drop As China Tightens Monetary Policy

January 12, 2010 1:40 PM | | TrackBacks (0)
It was a lower close for the markets with the Dow losing 36 points to 10,627 as China tightened its monetary policy and Alcoa disappointed with quarterly results that missed expectations. Nasdaq dropped 30 points to 2282.

 

On the upside

Illlumina (Nasdaq: ILMN) released preliminary fourth quarter revenue that topped analyst estimates.

Emulex (NYSE: ELX) impressed with preliminary second quarter results that surpassed expectations.

Supervalu (NYSE: SVU) reversed year ago losses to post a profit for the third quarter as the grocery chain controlled costs.

On the downside

Great Atlantic & Pacific Tea (NYSE: GAP) blamed one time charges and lower sales for widening third quarter losses.

Quantum (NYSE: QTM) will release third quarter results on January 28, 2010 after market close.

Goldman Sachs initiated coverage of Radian Group (NYSE: RDN) with a Neutral rating.

In the broad market, declining issues outpaced advancers by a margin of 5 to 2 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks fell 8 points to 635.

Tags:

0 TrackBacks

Listed below are links to blogs that reference this entry: Markets Drop As China Tightens Monetary Policy.

TrackBack URL for this entry: http://blog.marketminute.com/cgi-bin/mt/mt-tb.cgi/6161

Search


About this Entry

This page contains a single entry by published on January 12, 2010 1:40 PM.

Disappointing Earnings Weighs Down Markets was the previous entry in this blog.

Mixed Open As Executives Defend Pay Practices is the next entry in this blog.

Find recent content on the main index or look in the archives to find all content.

Powered by Movable Type 4.23-en