On the upside
Most retailers posted lower revenues, but The Buckle (NYSE: BKE) bucked the trend after the teen apparel retailer reported 21% higher February sales which beat expectations.
Wal-Mart Stores (NYSE: WMT) also stood out among retailers after posting a 5.1% increase in February same-store sales versus year-ago levels.
Weight Watchers International (NYSE: WTW) reported a 4th quarter profit boosted by one-time items.
On the downside
General Motors' auditors (NYSE: GM) warned that the company may not be viable. Investors took that to mean an inevitable bankruptcy filing.General Dynamics (NYSE: GD) lowered its 2009 outlook and announced plans to slash 1200 positions and to cut production of business jets.
Jackson Hewitt Tax Service (NYSE: JTX) lowered its outlook for the year despite posting slightly higher 3rd quarter profits. The tax preparer also announced a deal to be the exclusive provider of tax services in 2,250 Wal-Mart Stores locations.
In the broad market, declining issues overwhelmed advancers by a margin of more than 5 to 1 on the NYSE and by more than 3 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 10 points to 360.