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March 27, 2012 at 18:12 PM EDT
Lower Close As Consumer Confidence Drops

A drop in consumer confidence weighed the markets down to a lower close with the Dow falling 43 points to 13,197. Nasdaq slipped 2 points to 3120.

On the upside

Lennar (NYSE: LEN) reported lower first quarter earnings but the results beat expectations.

Shares of Molycorp (NYSE: MCP) climbed after rival Inner Mongolia Baotou Rare-Earth Hi-Tech reported sharply higher full year earnings.


Zhongpin (Nasdaq: HOGS) received an offer to be taken private by chairman and chief executive Xianfu Zhu.


On the downside


Investors locked in profits on Lions Gate (NYSE: LGF), whose stock price soared last week in anticipation of the release of "The Hunger Games."


Shares of Nabors Industries (NYSE: NBR) continued falling after chief executive Anthony Petrello said in a regulatory filing yesterday that the company's investment in exploration and production businesses was a wrong decision.

Wedbush Securities analyst Corrina Freedman initiated coverage of Skechers (NYSE: SKX) with an Underperform rating.

In the broad market, declining issues outpaced advancers by a margin of 7 to 5 on the NYSE and by 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 6 points to 839.

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