Markets Close Mixed Over Possible Mortgage Assistance

News that the government was crafting a plan to assist mortgage payments for struggling homeowners lifted the markets in late afternoon trading. The markets closed mixed with the Dow slipping 7 points to 7933 while Nasdaq gained 11 points to 1542.

On the upside

Chipotle Mexican Grill (NYSE: CMG) reported lower fourth quarter earnings but the results beat expectations.

BorgWarner (NYSE: BWA) blamed the sluggish auto industry for swinging to a fourth quarter loss but the results topped analyst estimates.

Although fourth earnings slipped for Willis Group Holdings (NYSE: WSH), revenue rose.

On the downside

Analysts downgraded Pacer International (Nasdaq: PACR) after the logistics provider reported fourth quarter results well below analyst estimates.

New Oriental Education and Technololgy (NYSE: EDU) slashed its third quarter guidance citing the slowdown in China's economy.

Las Vegas Sands (NYSE: LVS) blamed impairment charges and the sluggish economy for swinging to a fourth quarter loss that fell short of estimates.

In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 4 on the NYSE and while advancers barely edged out decliners on Nasdaq. The Russell 2000 which tracks small cap stocks added 2 points to 450.