Consumer Prices Climb, Markets Open Lower

Consumer prices climbed 0.7% in February due to higher gasoline prices. The markets opened lower with the Dow falling 54 points to 14,484 while Nasdaq lost 13 points to 3245.

On the upside

DirecTV (Nasdaq: DTV) withdrew from the auction to acquire Vivendi's Brazilian business GVT.

Bank of America (NYSE: BAC) will repurchase up to $5 billion in common shares and redeem up to $5.5 billion in preferred stock.

CenterPoint Energy (NYSE: CNP) will form a limited partnership with OGE Energy (NYSE: OGE) and ArcLight Capital Partners.

On the downside

Ulta Beauty (Nasdaq: ULTA) reported higher fourth quarter earnings and revenue that topped analyst estimates but the company forecast current quarter results below expectations prompting a downgrade.

Great Lakes Dredge & Dock (Nasdaq: GLDD) must restate second and third quarter financial reports and announced the resignation of president and chief operating officer Bruce Biemeck.

Carnival (NYSE: CCL) swung to a profit for the first quarter but the cruise line operator trimmed its full year revenue forecast.

In the broad market, declining issues outpaced advancers by a margin of more than 9 to 7 on both the NYSE and on Nasdaq. The broader S&P 500 index lost 6 points to 1556.

Stock Market XML and JSON Data API provided by FinancialContent Services, Inc.
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
Privacy Policy and Terms and Conditions.
Press Release Service provided by PRConnect.
Stock quotes supplied by Six Financial
Postage Rates Bots go here