Economic Concerns Weigh Markets Down To Lower Close
Posted on February 21, 2013 at 17:03 PM EST
Economic concerns weighed the markets down to a lower close with the Dow falling 46 points to 13,880. Nasdaq dropped 32 points to 3131.
On the upside
J.C. Penney (NYSE: JCP) announced that five leading brands will be introduced this spring in nearly 700 stores.
Yamana Gold (NYSE: AUY) reported higher fourth quarter earnings that topped analyst estimates on record revenue.
Responsys (Nasdaq: MKTG) reported flat fourth quarter earnings but the results were better than expected.
On the downside
Gotham City Research alleged that financial reports by Ebix (Nasdaq: EBIX) were inaccurate.
Taser International (Nasdaq: TASR) reversed year ago losses to post a profit for the fourth quarter but the stock price fell.
Marriott Vacations Worldwide (NYSE: VAC) fell to a loss for the fourth quarter .
In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 2 on the NYSE and by nearly 7 to 3 on Nasdaq. The broader S&P 500 index lost 9 points to 1502.
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