Disappointing GDP weighs down markets

The nation's economy expanded at a slower than expected pace in the fourth quarter to weigh the markets down to a lower open with the Dow tumbling 85 points to 17,331. Nasdaq lost 13 points to 4,669.

On the upside

Gulf Resources (Nasdaq: GURE) discovered natural gas resources under its bromine well in Sichuan area.

Amazon (Nasdaq: AMZN) reported a better than expected profit for the fourth quarter.

ImmunoGen (Nasdaq: IMGN) impressed with sharply higher second quarter earnings and revenue that surpassed analyst expectations by a wide margin.

On the downside

Hawaiian Holdings (Nasdaq: HA) reported lower fourth quarter earnings and warned that first quarter operating revenue per available seat mile would drop in the current quarter.

Deckers Outdoor (NYSE: DECK) reported higher third quarter earnings and revenue but the results fell short of analyst expectations prompting the company to lower its fourth quarter earnings guidance.

Investors locked in profits on Genetic Technologies (Nasdaq: GENE).

In the broad market, declining issues outpaced advancers by a margin of more than 2 to 1 on the NYSE and by nearly 7 to 3 on Nasdaq. The broader S&P 500 fell 13 points to 2008. Bitcoin slipped $2 to $227.
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