Sluggish Chinese Export Growth Weighs Down Markets
Disappointingly sluggish growth of Chinese exports weighed the markets down during the midday with the Dow losing 22 points to 13,142. Nasdaq fell 9 points to 3009.
On the upside
Dai-ichi Life Insurance of Japan will acquire up to a 20% stake in Janus Capital Group (NYSE: JNS).
Shares of Performant Financial (NYSE: PFMT) climbed on its first trading day.
CareFusion (NYSE: CFN) reported higher fourth quarter earnings that topped analyst expectations and full year results above expectations.
On the downside
A state attorney general launched an investigation into Monster Beverage's (Nasdaq: MNST) energy drink. Investors locked in profits on Nokia (NYSE: NOK), whose stock price climbed yesterday on its patent sale to Vringo.
American Eagle Outfitters (NYSE: AEO) sold its 77kids business to Ezrani 2 and will take a $35 million loss on the unit.
In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 5 on the NYSE and by nearly 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 3 points to 799.
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