Lower Close As Consumer Spending Slows
Posted on April 30, 2012 at 18:22 PM EDT
The markets closed lower with the Dow slipping 14 points to 13,213 despite a gain in household income as consumer spending slowed last month. Nasdaq dropped 22 points to 3046.
On the upside
J. P. Morgan raised its price target for SandRidge Energy (NYSE: SD) to $13 from $9.50 and upgraded the company to an Overweight rating.
Accretive Health (NYSE: AH) filed a motion to dismiss the Minnesota Attorney General's complaint against the company's debt collection practices.
On the downside
Groupon (Nasdaq: GRPN) replaced board of director members Howard Schultz and Kevin Efrusy.
Shares of Fusion-io (NYSE: FIO) continued falling after reporting a third quarter loss last week.
Sohu (Nasdaq: SOHU) reported first quarter earnings and revenue that topped analyst estimates but the company forecast current quarter results well below expectations.
In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 3 on the NYSE and by 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 8 points to 816.
Stock Market XML and JSON Data API provided by FinancialContent Services, Inc.
Nasdaq quotes delayed at least 15 minutes, all others at least 20 minutes.
Markets are closed on certain holidays. Stock Market Holiday List
By accessing this page, you agree to the following
Press Release Service provided by PRConnect.
Stock quotes supplied by Telekurs USA
Postage Rates Bots go here