Slip In Consumer Sentiment Weighs Down Markets

A slip in consumer sentiment in February weighed down the markets to a lower open with the Dow falling 53 points to 10,321. Nasdaq eased a point to 2234.


On the upside

Private equity firm Thomas H. Lee Partners will pay approximately $619 million in cash to acquire Carl's Jr. and Hardee's owner CKE Restaurants (NYSE: CKE).

Gap (NYSE: GPS) reported higher fourth quarter earnings that topped analyst estimates, increased it annual dividend and forecast 2010 results ahead of expectations.

A nine year study demonstrated that using stents was just as effective as surger to prevent strokes, lifting shares of carotid artery stent maker Ev3 (Nasdaq: EVVV).

On the downside

Crocs (Nasdaq: CROX) narrowed fourth quarter losses as revenue rose, but the colorful plastic shoemaker also announced the retirement of company president and chief executive John Duerden.

AthenaHealth (Nasdaq: ATHN) cited an accounting review for delaying the release of its fourth quarter earnings. Analysts downgraded the company.

American International Group (NYSE: AIG) reported a fourth quarter loss of $8.9 billion or $65.51 per share. 

In the broad market, advancing issues barely edged out decliners by a slim margin on the NYSE while decliners outpaced advancers by nearly 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a fraction to 629

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This page contains a single entry by published on February 26, 2010 6:47 AM.

Economic Recovery Concerns Sink Stocks was the previous entry in this blog.

Greater Than Expected Drop In Home Sales Weighs Down Markets is the next entry in this blog.

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