Markets Edge Lower On Earnings

The markets edged lower during the midday with the Dow losing 14 points to 13,965 as investors digested earnings news. Nasdaq fell 7 points to 3164.

On the upside

Zynga (Nasdaq: ZNGA) narrowed fourth quarter losses more than expected.

Shares of Boise Cascade (NYSE: BCC) surged in its market debut.

Take-Two Interactive Software (Nasdaq: TTWO) impressed with sharply higher third quarter earnings and revenue that beat expectations by a wide margin.

On the downside

Melco Crown Entertainment (Nasdaq: MPEL) reported higher preliminary fourth quarter earnings and revenue but the stock price fell on concerns that China’s plan to target money laundering in Macau will hurt revenue.

Suncor Energy (NYSE: SU) blamed an impairment charge for falling to a loss for the fourth quarter.


Calix (NYSE: CALX) widened fourth quarter losses.

In the broad market, advancing issues outpaced decliners by a margin of nearly 10 to 9 on the NYSE while decliners edged out advancers by more than 10 to 9 on Nasdaq. The broader S&P 500 index lost 2 points to 1508.

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