New Home Construction Plunges, Markets Open Lower

February new home construction plunged to weigh the markets down to a lower open with the Dow falling 58 points to 11,797. Nasdaq slipped 2 points to 2665.

On the upside

Bargain hunters lifted shares of Uranium Resources (Nasdaq: URRE) whose shares have plunged since a devastating earthquake in Japan damaged the cooling system at a nuclear power plant.

Vera Bradley (Nasdaq: VRA) reported lower fourth quarter earnings but the results surpassed analyst expectations by a wide margin.

Universal Display (Nasdaq: PANL) widened fourth quarter losses due to a non-cash loss on stock warrant liability but revenue more than doubled.

On the downside

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