Economic Recovery Concerns Sink Stocks

An unexpected jump in jobless claims and the possibility of a credit downgrade of Greece sparked economic recovery concerns to send the markets down to a lower close with the Dow falling 53 points to 10,321. Nasdaq eased a point to 2234.


On the upside

LTX-Credence (Nasdaq: LTXC) swung to a second quarter profit that topped analyst expectations and forecast third quarter results ahead of estimates.

Excel Maritime (NYSE: EXM) reversed year ago losses to post a much higher than expected profit for the fourth quarter.

Fourth quarter earnings for Smith Micro Software (Nasdaq: SMSI) beat analyst expectations by a wide margin.

On the downside

Sunrise Senior Living (NYSE: SRZ) swung to a profit for the fourth quarter but the company announced the elimination of another thirty positions.

Dynegy (NYSE: DYN) widened fourth quarter losses as revenue tumbled.

Holly (NYSE: HOC) reported a wider than expected loss for the fourth quarter. 

In the broad market, declining issues outpaced advancers by a margin of nearly 10 to 9 on the NYSE and by more than 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks edged up a fraction to 630.

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This page contains a single entry by published on February 25, 2010 1:31 PM.

Unexpected Rise In Jobless Claims Weighs Down Markets was the previous entry in this blog.

Slip In Consumer Sentiment Weighs Down Markets is the next entry in this blog.

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