On the upside
Insurance companies that became banks may get approval for bailout funds as early as today. Meanwhile, Connecticut's insurance commissioner may ease cash reserve requirements for Hartford Financial Services (NYSE: HIG), according to a Bloomberg report.Banks joined the rally with shares of Fifth Third Bankcorp (Nasdaq: FITB) and Huntington Bancshares (Nasdaq: HBAN) among the big gainers this morning.
Beazer Homes (NYSE: BZH) posted a smaller loss on revenues that fell by more than half as the home builder announced another round of job cuts. The stock rebounded from last week's multi-year lows.
On the downside
January same-store sales rose at McDonald's (NYSE: MCD) appealing to cost-conscious consumers. The stock edged lower due to some concerns about February sales.Rohm & Haas (NYSE: ROH) posted a small profit as revenues fell last quarter. The specialty chemical maker has been an elusive takeover target with Dow Chemical (NYSE: DOW) experiencing difficulty securing financing and locking down a price.
Nam Tai Electronics (NYSE: NTE) reported lower 4th quarter sales and a net loss as the Hong Kong-based electronics manufacturer offered a conservative outlook.
In the broad market, declining issues outpaced advancers by a margin of 5 to 4 on the NYSE and by nearly 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks fell 3 points to 466.
