January 04, 2008 at 10:00 AM EST
Opening Bell Report

The markets opened lower on weak job growth results and an uptick in the unemployment rate to its highest levels in 2 years. The Dow lost 128 points to 12,928 while Nasdaq fell 40 points to 2562.

On the upside

Shares of Sonic Corp. (Nasdaq: SONC) rose after the burger chain reported lower profits that beat expectations.

AZZ (NYSE: AZZ) which makes power generators and equipment for the utility industry posted higher profits and raised its full-year outlook.

Shares of Osiris Therapeutics (Nasdaq: OSIR) rose after the company landed a $224 million to stockpile stem cell treatments for radiation exposure.

On the downside

Bed Bath & Beyond (NYSE: BBY) posted earnings that met expecations, but lowered its outlook for the 4th quarter.

A decline in chip orders from computer manufacturers weighed down the semiconductor sector with shares of bellwether Intel (Nasdaq: INTC) falling for a 3rd consecutive session.

Shares of Landec (Nasdaq: LNDC) which makes polymers for food packaging posted earnings that met expectations, but revenues were slightly below targets.

In the broad market, declining issues outpaced advancers by a margin of 4 to 1 on the NYSE and by more than 3 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks tumbled 13 points to 731.

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