A slowdown in worker productivity weighed down the markets to a lower close with the Dow dropping 65 points to 12,200. Nasdaq plunged 31 points to 2279.
On the upside
First quarter earnings for Multi-Fineline Electronix (Nasdaq: MFLX) surged to beat expectations as sales climbed and margins improved.
A gain from a joint venture helped Monaco Coach (NYSE: MNC) swing to a fourth quarter profit and surpass expectations.
Penson Worldwide (Nasdaq: PNSN) reported higher fourth quarter earnings that beat expectations as revenue soared.
On the downside
Although CommVault Systems (Nasdaq: CVLT) reported higher third quarter earnings, the company trimmed its full year forecast.
While fourth quarter earnings for RadiSys (Nasdaq: RSYS) beat expectations, the company forecast disappointing first quarter results.
National Financial Partners (NYSE: NFP) warned that fourth quarter results will fall far short of estimates.
In the broad market, declining issues outpaced advancers by a margin of more than 5 to 3 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks tumbled 9 points to 692.