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Higher Close As Job Openings Soar
Posted on February 07, 2012 at 17:24 PM EST
The markets closed modestly higher with the Dow gaining 33 points to 12,878 despite the continued failure of Greece to finalize debt discussions as investors welcomed news that job openings soared. Nasdaq rose 2 points to 2904. On the upside Wabash National (NYSE: WNC) reported higher fourth quarter earnings as revenue climbed. Scotts Miracle-Gro (NYSE: SMG) reported a smaller than expected loss for the fourth quarter.
Fourth quarter earnings climbed for Regal Beloit (NYSE: RBC) as sales soared. On the downside Falling demand for coal weighed down shares of Alpha Natural Resources (NYSE: ANR) and Patriot Coal (NYSE: PCX). Louisiana-Pacific (NYSE: LPX) blamed weak demand for widening fourth quarter losses.
Craig-Hallum affirmed its Sell rating for Fusion-io (NYSE: FIO). In the broad market, advancing issues outpaced decliners by a margin of more than 9 to 7 on the NYSE while decliners edged out advancers by 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks slipped a point to 827.
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