The markets closed modestly lower as mortgage delinquencies rose at Countrywide. The Dow dropped 29 points to 12,348 while Nasdaq lost 11 points to 2322.
On the upside
Fourth quarter earnings rose to beat expectations for Cognex (Nasdaq: CGNX).
Although first earnings dropped for Brocade Communications Systems (Nasdaq: BRCD), the results beat expectations and the data networking company affirmed its outlook.
Radian Group (NYSE: RDN) swung to a fourth quarter loss but CEO S. A. Ibrahim said that the company has increased its loss reserves to $1.3 billion.
On the downside
Premier Exhibitions (Nasdaq: PRXI) vice president and chief financial officer Stephen Couture resigned effective immediately.
Shares of Yingli Green Energy Holding (NYSE: YGE) fell despite reporting sharply higher fourth quarter earnings.
Barnes Group (NYSE: B) reported lower fourth quarter earnings that fell short of estimates.
In the broad market, declining issues outpaced advancers by a margin of nearly 9 to 7 on the NYSE and by more than 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 4 points to 702.
Nasdaq quotes delayed at least 15 minutes, all others at least 20 minutes.
Markets are closed on certain holidays. Stock Market Holiday List
By accessing this page, you agree to the following
Press Release Service provided by PRConnect.
Stock quotes supplied by Six Financial
Postage Rates Bots go here