Lower Open Over Economic Concerns

Despite better than expected January retail sales, the markets opened lower with the Dow tumbling 95 points to 13,891 over continued economic concerns. Nasdaq fell 21 points to 3146.

On the upside

CBRE Group (NYSE: CBG) reported higher fourth quarter earnings and revenue that surpassed analyst expectations and forecast 2013 earnings above estimates.

Fourth quarter earnings and revenue fell for Patterson-UTI Energy (Nasdaq: PTEN) but the results were better than expected.

DeVry (NYSE: DV) reported sharply higher second quarter earnings that beat expectations by a wide margin as the for profit educator cut costs.

On the downside

Akamai Technologies (Nasdaq: AKAM) reported higher fourth quarter earnings but revenue fell short of expectations and the company forecast current quarter revenue below estimates.

First quarter earnings and revenue rose for Green Mountain Coffee Roasters (Nasdaq: GMCR) but the company forecast current quarter revenue that missed analyst expectations.

Atmel (Nasdaq: ATML) fell to a loss for the fourth quarter as expenses climbed.

In the broad market, declining issues outpaced advancers by a margin of 7 to 5 on the NYSE and by nearly 5 to 3 on Nasdaq. The broader S&P 500 index dropped 9 points to 1502.

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