Markets Flat On Cautious Outlooks

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The markets traded near the flatline with the Dow slipping 5 points to 10,396 as corporations issued cautious outlooks and warned of continued economic challenges. Nasdaq lost 3 points to 2240.

 

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.

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This page contains a single entry by published on February 22, 2010 10:06 AM.

Rising Oil Prices Weigh Down Markets was the previous entry in this blog.

Gasoline Expected To Climb Over $3, Markets Slip is the next entry in this blog.

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