Korean Military Conflict Sends Markets Tumbling
A military conflict on the Korean Peninsula sent the markets down to a sharply lower open with the Dow tumbling 141 points to 11,036. Nasdaq dropped 32 points to 2499.
On the upside
Fourth quarter earnings fell for Nuance Communications (Nasdaq: NUAN) but the results topped estimates.
Astrotech (Nasdaq: ASTC) won a $35 million contract to provide facilities and payload processing services for NASA at its Vandenberg Air Force Base.
Brown Shoe (NYSE: BWS) reported higher third quarter earnings and revenue that beat analyst expectations.
On the downside
Brocade Communications Systems (Nasdaq: BRCD) reported lower fourth quarter earnings and forecast first quarter results below analyst expectations.
Harbin Electric (Nasdaq: HRBN) received an amended and restated proposal from chairman and chief executive Tianfu Yang to take the company private.
Jack in the Box (NYSE: JACK) disappointed with sharply lower fourth quarter earnings that fell short of expectations due to costs related to the closing of forty restaurants.
In the broad market, declining issues outpaced advancers by a margin of 6 to 1 on the NYSE and by more than 5 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 8 points to 718.
