Weak Forecasts Renew Recovery Concerns

January 28, 2010 1:47 PM |
Disappointingly weak forecasts among technology companies renewed concerns about the economic recovery with the Dow plunging 115 points to 10,120. Nasdaq plummeted 42 points to 2179. 

 

On the upside

Deluxe (NYSE: DLX) reported higher fourth quarter earning that beat expectations.

Regions Financial (NYSE: RF) announced that Steve Nivet will replace Angel Medina Jr. as area president of South Florida.

US Airways Group (NYSE: LCC) narrowed losses for the fourth quarter even as revenue slipped.

On the downside

Arkansas Best (Nasdaq: ABFS) widened fourth quarter losses as revenue fell and the trucking company slashed its quarterly dividend.

Teradyne (NYSE: TER) reversed year ago losses to post a fourth quarter profit but revenue missed expectations.

Brunswick (NYSE: BC) widened losses for the fourth quarter as revenue tumbled.

In the broad market, declining issues outpaced advancers by a margin of more than 5 to 2 on the NYSE and by nearly 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks tumbled 10 points to 607.

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This page contains a single entry by published on January 28, 2010 1:47 PM.

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