Markets Flat On Cautious Outlooks
On the upside
BB&T Capital Markets analysts upgraded Pacer International (Nasdaq: PACR) to a Buy rating.
Fourth quarter earnings slipped for Quanta Services (NYSE: PWR) but the results beat analyst expectations.
Shares of Commercial Metals (NYSE: CMC) rose over rumors that the company may be the target of an acquisition.
On the downside
Barclays Capital downgraded LDK Solar (NYSE: LDK).
Thomas Weisel downgraded Vishay Intertechnology (NYSE: VSH).
After market close on Friday, NCI Building Systems (NYSE: NCS) announced a 1-for-5 reverse stock split on common shares to be effective March 5, 2010.
In the broad market, advancing issues barely outpaced decliners by a slim margin on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks added a fraction to 632.