Opening Bell Report

The markets opened to news of a weak manufacturing report. The Dow fell 36 points to 12,340 while Nasdaq lost 9 points to 2322 as investors continued to worry about a deteriorating economy.

On the upside (Nasdaq: PCLN) reported 4th quarter earnings that more than doubled as online travel bookings surged.

The Campbell Soup (NYSE: CPB) posted slightly lower profits as sales climbed due to more diverse product offerings.

Shares of Abercrombie & Fitch (NYSE: ANF) edged higher after the clothing retailer posted higher earnings and revenues despite declining same-store sales.

On the downside

Consumer electronics retailer Best Buy (NYSE: BBY) announced weak January sales versus year-ago and projected slightly lower revenues for the fiscal year ended March 1.

Shares of Chipotle Mexican Grill (NYSE: CMG) plunged after the restaurant chain's 4th quarter profits and sales missed expectations.

Emcore (Nasdaq: EMKR) planned a stock offering to raise funds earmarked for the purchase of a telecommunication technology business unit from Intel (Nasdaq: INTC).

In the broad market, declining issues outpaced advancers by a margin of nearly 2 to 1 on the NYSE and by more than 3 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 3 points to 701.

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