Stocks Mixed, Economic Data Disappoints
Stocks closed mixed on Tuesday, after two economic reports showed further deterioration in the U.S. economy. The S&P/Case-Shiller index showed home prices in January fell the most since the index was created. Shortly after, the monthly report on consumer confidence showed a much greater than expected decline.
The Dow fell -16.04 , the Nasdaq Composite rose +14.30, and the S&P 500 +3.11.
Fortress Investment Group
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PowerRating) reported a loss for the fourth quarter, missing estimates by a wide margin. However, FIG shares rose 4.8%.
Monsanto
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PowerRating) jumped 9.9% after the company raised its 2008 full-year earnings guidance.
MGIC Investment
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PowerRating) fell 7.9% after the mortgage insurer needed to raise $745 million via a stock and debt sale. The company reported a record loss in Q4.
Oil and gold rose today, and the dollar fell versus the euro.
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