Market Update

Lower Close As China Growth Target Trimmed

The markets closed lower with the Dow losing 14 points to 12,962 after China trimmed its economic growth target. Nasdaq fell 25 points to 2950.

On the upside

On Friday, the Street listed Galena Biopharma (Nasdaq: GALE) as one of five stocks poised to break-out.

BioCryst Pharmaceuticals (Nasdaq: BCRX) presented today at the Cowen & Co. 32nd Annual Healthcare Conference in Boston.

Alimera Sciences (Nasdaq: ALIM) will present at the Cowen & Co. 32nd Annual Healthcare Conference in Boston on Wednesday.

On the downside

Arcos Dorados Holdings (NYSE: ARCO) reported higher fourth quarter earnings as revenue climbed but the results missed estimates.

Shares of AK Steel Holding (NYSE: AKS) fell after China lowered its economic growth target for the year.

AuRico Gold (NYSE: AUQ) announced the addition of 1.01 million gold equivalent ounces to its Proven and Probable reserves at Young-Davidson.

In the broad market, declining issues outpaced advancers by a margin of nearly 3 to 2 on the NYSE and by nearly 5 to 4 on Nasdaq. The Russell 2000 which tracks small cap stocks added a point to 803.

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