Lower Open On Disappointing Retail Sales

January retail sale rose less than expected to weigh the markets down to a lower open with the Dow losing 32 points to 12,841. Nasdaq fell 10 points to 2921.

On the upside

Michael Kors (NYSE: KORS) reported higher third quarter earnings and revenue that beat analyst expectations and forecast full year results well ahead of estimates.


Fourth quarter earnings for Rackspace Hosting (NYSE: RAX) nearly doubled to top analyst estimates.

Fonar (Nasdaq: FONR) reported higher second quarter earnings as revenue climbed.


On the downside


Masco (NYSE: MAS) reported a larger than expected loss for the fourth quarter.


Goodyear Tire & Rubber (NYSE: GT) swung to a profit for the fourth quarter but the results fell short of expectations.

Deutsche Bank expects Germany to cut solar subsidies more than expected sending shares of First Solar (Nasdaq: FSLR), JA Solar (Nasdaq: JASO) and Suntech Power (NYSE: STP) lower.

In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 2 on the NYSE and by nearly 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks fell 6 points to 818.

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