Possible Rate Hike Sends Markets Down To Lower Close

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Comments by Federal Reserve Chairman Ben Bernanke that suggested a possible increase in interest rates sent the markets down to a moderately lower close with the Dow falling 20 points to 10,038. Nasdaq lost 3 points to 2147.

 

On the upside

OpenTable (Nasdaq: OPEN) impressed by swinging to a strong profit for the fourth quarter as reservations surged by 40%.

Capstone Turbine (Nasdaq: CPST) narrowed third quarter losses as the company reported record revenue.

American International Group (NYSE: AIG) introduced a new ranking system to determine incentive payments to employees.

On the downside

Fourth quarter earnings for The New York Times (NYSE: NYT) surged threefold to beat expectations but revenue continued to fall and the newspaper warned that print advertising will decline further.

EOG Resources (NYSE: EOG) reported lower fourth quarter earnings that fell short of expectations.

The Department of Transportation tentatively approved a plan by Delta Air Lines (NYSE: DAL) and US Airways (NYSE: LCC) to swap slots at LaGuardia and Ronald Reagan Washington National provided the two airlines sell some slots to rivals with limited or no service to those two airports. 

In the broad market, declining issues outpaced advancers by a margin of nearly 10 to 9 on the NYSE while decliners barely edged out advancers by a slim margin on Nasdaq. The Russell 2000 which tracks small cap stocks added a fraction to 595.

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This page contains a single entry by published on February 10, 2010 1:38 PM.

Uncertainty About Greece Bailout Weighs Down Markets was the previous entry in this blog.

Lower Open As Few Details Emerge From Greece Rescue Plan is the next entry in this blog.

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