Markets Open Up As Home Construction Rises

February 17, 2010 6:51 AM |
January home construction posted a better than expected gain to lift the markets to a higher open with the Dow rising 31 points to 10,300. Nasdaq added 8 points to 2223.

 

On the upside

La-Z-Boy (NYSE: LZB) reversed year ago losses to post a greater than expected profit for the third quarter.

Whole Foods Market (Nasdaq: WFMI) impressed with higher first quarter earnings that beat expectations and lifted its full year outlook prompting an upgrade.

First quarter earnings for Deere & Co. (NYSE: DE) rose to surpass analyst estimates and the company raised its 2010 forecast.

On the downside

While Owens Corning (NYSE: OC) narrowed losses for the fourth quarter, the results fell short of expectations.

GSI Commerce (Nasdaq: GSIC) announced that a shareholder will sell all of its holdings in GSI, approximately 9.2 million common shares.

While fourth quarter earnings for FMC Technologies (NYSE: FTI) rose, the company reported that its backlog shrank. 

In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 2 on the NYSE and by more than 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks added 3 points to 623.

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This page contains a single entry by published on February 17, 2010 6:51 AM.

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Gain In New Home Construction Lifts Markets is the next entry in this blog.

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