Skittish investors sent the markets down to a lower close even as factory orders rose. The Dow tumbled 108 points to 12,635 while Nasdaq plunged 31 points to 2383.

On the upside

Quicksilver Resources (NYSE: KWK) announced the addition of 608 billion cubic feet of natural gas equivalents to its reserves in 2007 to total 1.55 trillion cubic feet of natural gas equivalents on December 31, 2007.

Volvo Trucks North America extended an agreement with Cummins (NYSE: CMI) to use the Cummins ISX engine in trucks with a 15 liter engine.

Last week, Ardour Capital initiated coverage of Gushan Environmental Energy (NYSE: GU) with a Buy rating while Jim Cramer said that the company has a lot of potential.

On the downside

While BluePhoenix Solutions (Nasdaq: BPHX) reported higher fourth quarter earnings last week, revenue fell short of estimates.

Hovnanian Enterprises (NYSE: HOV) received a temporary waiver to certain conditions of its credit facilities and will amend its credit facility by March 14.

Robert W. Baird & Co. expects Family Dollar (NYSE: FDO) to report flat to lower same store sale in January due to strong competition and higher gas prices.

In the broad market, declining issues outpaced advancers by a margin of nearly 3 to 2 on the NYSE and by more than 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks fell 7 ponts to 723.