Mixed Close As Oil Prices Retreat While New Home Sales Tumble
It was a mixed close for the markets with the Dow losing 37 points to 12,068 as oil prices retreated while new home sales tumbled. Nasdaq climbed 14 points to 2737.
On the upside
Goldman Sachs analyst James Mitchell upgraded Youku.com (NYSE: YOKU) yesterday to a Buy rating.
Titan International (NYSE: TWI) narrowed fourth quarter losses more than expected as revenue climbed.
NorthStar Realty Finance (NYSE: NRF) reported higher adjusted funds from operations for the fourth quarter.
On the downside
Newmont Mining (NYSE: NEM) reported sharply higher fourth quarter earnings but warned of lower gold and copper production in 2011.
Office Depot (NYSE: ODP) is being investigated by the Justice Department for prices the office supplies company charged government and nonprofit agencies.Fourth quarter earnings more than doubled for GrafTech International (NYSE: GTI) to surpass analyst expectations but the company warned of pricing pressure in 2011.
In the broad market, advancing issues outpaced decliners by a margin of 10 to 9 on the NYSE and by 3 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 4 points to 804.
