Strong Same Store Sales But Markets Open Lower
Retailers reported strong January same store sales but the markets opened lower with the Dow losing 45 points to 11,996. Nasdaq fell 17 points 2732.
On the upside
Hansen Medical (Nasdaq: HNSN) entered an agreement with Philips to develop and market non-robotic applications of Hansen Medical's Fiber Optic Shape Sensing and Localization technology.
Although first quarter earnings fell for Green Mountain Coffee Roasters (Nasdaq: GMCR), the results beat expectations.
January same store sales surged by a much greater than expected 24% for Limited Brands (NYSE: LTD).
On the downside
Radian Group (NYSE: RDN) blamed a significant charge for widening fourth quarter losses.
Intersil (Nasdaq: ISIL) disappointed with lower fourth quarter earnings that missed expectations and forecast first quarter results below estimates prompting a downgrade.Fourth quarter earnings for CVS Caremark (NYSE: CVS) fell as revenue dropped.
In the broad market, declining issues outpaced advancers by a margin of 7 to 5 on the NYSE and by nearly 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a fraction to 795.
