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March 20, 2012 at 18:27 PM EDT
Housing Starts Slip, Markets Close Lower
Housing starts slipped last month to weigh the markets down to a lower close with the Dow dropping 68 points to 13,170. Nasdaq lost 4 points to 3074.
On the upside
The Commerce Department imposed tariffs on Chinese solar imports that were lower than expected which lifted shares of Suntech Power (NYSE: STP), Trina Solar (NYSE: TSL) and Yingli Green Energy (NYSE: YGE).
Michael Kors (NYSE: KORS) lifted its fourth quarter earnings and revenue guidance.
Shares of Lions Gate Entertainment (NYSE: LGF) continued rising in anticipation of the blockbuster release of "The Hunger Games" this weekend.
On the downside
Avondale dowgraded Kindred Healthcare (NYSE: KND) from a rating of Outperform to Market Perform.
NuPathe (Nasdaq: PATH) reported a loss for the fourth quarter.
Adobe Systems (Nasdaq: ADBE) disappointed with lower first quarter earnings and the company forecast current quarter earnings below estimates.
In the broad market, declining issues outpaced advancers by a margin of more than 2 to 1 on the NYSE and by nearly 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 8 points to 829.
Adobe Systems Inc Dow Jones Industrial Average (EOD) KINDRED HEALTHCARE, Inc. LIONS GATE ENTERTAINMENT Michael Kors NUPATHE NYSE COMPOSITE INDX Russell 1000 Index Russell 2000 Russell 3000 Index Standard & Poors 500 Suntech Power Holdings Co. ADS TRINA SOLAR LIMITED YINGLI GREEN ENERGY HOLDING COMPANY LIMITED
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