Sharply Lower Consumer Sentiment, Markets Close Lower

Despite announcements by major banks that home foreclosures will be halted, the markets closed lower with the Dow falling 82 points to 7850 as consumer sentiment plunged in February. Nasdaq lost 7 points to 1534.

On the upside

BigBand Networks (Nasdaq: BBND) reversed year ago losses to post a fourth quarter profit that topped analyst estimates.

Although fourth quarter earnings for BJ's Restaurants (Nasdaq: BJRI) slipped, the results beat expectations.

UBS upgraded ATMI Inc. (Nasdaq: ATMI).

On the downside

Standard & Poor's Ratings Services placed International Coal Group's (Nasdaq: ICO) ratings on CreditWatch after the company warned that it may terms of its loans.

Jarden (Nasdaq: JAH) widened fourth quarter losses due to a significant non-cash impairment charge and lower sales.

Bernstein Research analyst Kevin St. Pierre said that Fifth Third Bancorp (Nasdaq: FITB) will need more capital and declared the regional bank uninvestable.

In the broad market, declining issues outpaced advancers by a margin of 7 to 5 on the NYSE and by 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks slipped 2 points to 448.