A contraction of Germany's economy in the fourth quarter weighed the markets down to a lower open with the Dow losing 36 points to 12,425. Nasdaq slipped 2 points to 2700.
On the upside
Crocs (Nasdaq: CROX) expects 2011 revenue to top $1 billion with fourth quarter revenue reaching the high end of its guidance.
Alcatel-Lucent (NYSE: ALU) and Verizon Wireless (NYSE: VZ) demonstrated a new breed of mobile commerce applications that delivers custom coupons directly to the consumer's mobile device at the Consumer Electronics Show.
Reuters reported that Textron (NYSE: TXT) may spin-off some of its businesses.
On the downside
Urban Outfitters (Nasdaq: URBN) chief executive Glen Senk resigned prompting downgrades.
The Mine Safety and Health Administration ordered Hecla Mining (NYSE: HL) to close the Silver Shaft at the Lucky Friday mine in order to remove built-up material. The mining company also cut its 2012 silver production guidance.
Supervalu (NYSE: SVU) widened third quarter losses as food prices climbed and cut its full year revenue outlook.
In the broad market, declining issues outpaced advancers by a margin of more than 2 to 1 on the NYSE and by more than 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 3 points to 761.
