Markets Tumble After China Tightens Monetary Policy Again

China lifted its bank reserve requirements for the second time within one month fueling fears that the stricter monetary policy will lengthen the global economic recovery. The markets pared early morning losses during the midday but continued trading lower with the Dow tumbling 96 points to 10,048. Nasdaq lost 6 points to 2171.

On the upside

Rovi (Nasdaq: ROVI) swung to a greater than expected profit as revenue rose.

Office Depot (NYSE: ODP) was named by The Women's Business Enterprise National Council as one of America's Top Corporations for Women's Business Enterprises for the ninth consecutive year.

Radian Group (NYSE: RDN) declared a regular quarterly dividend of $0.0025 per common share payable on March 4, 2010 to shareholders of record February 22, 2010.

On the downside

Buffalo Wild Wings (Nasdaq: BWLD) reported higher fourth quarter earnings as revenue rose but the results fell short of expectations.

Compellent (NYSE: CML) disappointed with flat fourth quarter earnings that missed estimates prompting a downgrade.

General Cable (NYSE: BGC) blamed charges for swinging to a fourth quarter loss.

In the broad market, declining issues outpaced advancers by a margin of more than 5 to 3 on the NYSE and by more than 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks added a fraction to 605.

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