Germany's Economy Contracts, Markets Open Lower

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.

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