On the upside
J.C. Penney (NYSE: JCP) posted lower 4th quarter profits, but the results for the department store chain operator were better than expected.WebMD Health Corp. (Nasdaq: WBMD) reported higher revenues and earnings drawing record traffic to its websites.
On the downside
Investors dumped shares of Bank of America (NYSE: BAC) and Citigroup (NYSE: C) on worries that the banks may eventually be nationalized.
Lowe's (NYSE: LOW) posted lower 4th quarter profits as the nation's 2nd largest home improvement retailer warned of weak conditions through 2009.
WellCare Health Plans (NYSE: WCG) announced that it will suspend marketing and enrollment for its Medicare health plans due to an ongoing investigation by the US Health & Human Services and FBI.
Wright Medical Group (Nasdaq: WMGI) posted higher 4th quarter revenues and a small loss while lowering its 2009 sales target.
In the broad market, declining issues outpaced advancers by a margin of nearly 4 to 1 on the NYSE and by nearly 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks slipped 3 points to 413.
