The markets opened lower after a Commerce Department report confirmed that the U.S. economy nearly stalled in the 4th quarter. The Dow lost 35 points to 12,445 while Nasdaq fell 8 points to 2349.
On the upside
Shares of Flextronics International (Nasdaq: FLEX) rose after the electronics manufacturing company posted profits that beat analysts' estimates.
Robert Half International (NYSE: RHI) reported higher sales in staffing and consulting services and a slight increase in profits to beat forecast.
Shares of Silicon Laboratories (Nasdaq: SLAB) surged after the chipmaker posted higher revenues and earnings that met expectations.
On the downside
Yahoo (Nasdaq: YHOO) posted lower profits and announced up to 1000 job cuts in order to slash expenses at the beleaguered Internet media company.
Shares of Baker Hughes (NYSE: BHI) lost ground after the oil services company reported higher 4th quarter profits, but missed expectations.
Foundry Networks (Nasdaq: FDRY) posted higher profits that beat forecast, but the lack of guidance weighed down the stock.
In the broad market, advancing issues outpaced decliners by a slim margin on both the NYSE and Nasdaq. The Russell 2000 which tracks small cap stocks held steady at 705.
