On the upside
The Coca-Cola Company (NYSE: KO) posted a respectable 4th quarter with slightly lower revenues and earnings to beat expectations.Shares of Buffalo Wild Wings (Nasdaq: BWLD) soared after the casual dining restaurant chain posted 4th quarter profits that topped forecasts.
Higher revenues and earnings for American Italian Pasta (Nasdaq: AIPC) whetted the appetites of investors.
On the downside
Viacom (NYSE: VIA-B) posted flat revenues and lower profits due to declining television viewership, soft DVD sales and a one-time restructuring charge.The banking sector fell as median home prices recorded another price drop for the 4th quarter. Shares of Bank of America (NYSE: BAC) and Wells Fargo (NYSE: WFC) lost ground.
Activision Blizzard (Nasdaq: ATVI) reported higher 4th quarter revenues and earnings. Despite an analyst upgrade, investors worried about dampened consumer spending.
In the broad market, declining issues overwhelmed advancers by a margin of more than 4 to 1 on the NYSE and by nearly 3 to 1 on
Nasdaq. The Russell 2000 which tracks small cap stocks lost nearly 10 points to 438.
