Worries Over Rising Gas Prices Weigh Down Markets
Worries over rising gasoline prices weighed the markets down to a lower close with the Dow slipping a point to 12,213. Nasdaq lost 14 points to 2751.
On the upside
Goldman Sachs will increase its stake in MoneyGram International (NYSE: MGI) to approximately 30%.
AeroVironment (Nasdaq: AVAV) reported sharply higher third quarter earnings that surpassed analyst estimates by a wide margin.
Fourth quarter earnings slipped for The Children's Place (Nasdaq: PLCE) but the results topped estimates.
On the downside
Finisar's (Nasdaq: FNSR) disappointing outlook weighed down shares of competitors Occlaro (Nasdaq: OCLR) and Oplink (Nasdaq: OPLK) and semiconductor EMCORE (Nasdaq: EMKR).
7 Days Group Holdings (NYSE: SVN) reversed year ago losses to post a profit for the fourth quarter but the stock price fell.Shares of Superconductor Technologies (Nasdaq: SCON) fell ahead of its earnings release tomorrow before market open.In the broad market, declining issues outpaced advancers by a margin of 10 to 9 on the NYSE and by 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 3 points to 821.
