This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Market Hustle: Stocks Mixed on Weak Economic Data, BioTech Mega-Deal

Stocks in this article: DJI ^GSPC ^IXIC ACT FRX KO PG V KSU

NEW YORK (TheStreet) -- U.S. markets closed mixed Tuesday as poor reports from the homebuilding and manufacturing sectors weighed against a $25 billion biotech deal. The NAHB/Wells Fargo Housing Market Index fell drastically in February, with confidence down 10 points to 46 from 56 -- the largest drop in the history of the survey. Economists put the blame partly on supply constraints and weather conditions.

On the M&A front, Forest Laboratories (FRX) was surging almost 30% after Actavis (ACT) announced Tuesday that it was buying Forest for about $25 billion.

  • The S&P 500 was 0.11% higher at 1,840.73 while the Dow Jones Industrial Average was off 0.15% to 16,130.27. The Nasdaq was up 0.68% to 4,272.78.
  • The February Empire State Manufacturing Survey fell to 4.48 vs. the average economist estimate of 9.
  • Coca-Cola (KO) was the biggest laggard in the Dow, down 3.75% after posting in-line fourth-quarter earnings of 46 cents a share on revenue of $11.04 billion, which was less than the average sales forecast of $11.31 billion for the beverage giant. In the S&P 500, railroad operator Kansas City Southern (KSU) shed 4.46% to $91.68 after JPMorgan cut it to neutral from an overweight rating.
  • The maker of the Candy Crush Saga smartphone game, King Digital Entertainment, said Tuesday that it had filed for an initial public offering of up to $500 million.
  • The Nikkei 225 in Japan closed higher by 3.13% at 14,843.24 and the Hong Kong Hang Seng finished up 0.23% after the Bank of Japan said it was doubling the size of its lending facilities designed to stimulate bank lending and economic growth. The FTSE in London finished 0.9% higher and the DAX in Germany was up 0.03%.
  • The Federal Reserve Bank of New York said outstanding household debt increased $241 billion in the fourth quarter from the prior quarter, the largest quarter over quarter jump since 2007. The increase was led by a 1.9% rise in mortgage debt to $152 billion.
  • Stocks booked their second-straight week of gains on Friday after consumer sentiment beat expectations and companies from Cliffs Natural Resources (CLF) to Campbell Soup (CPB) topped earnings estimates. The S&P 500 has been close to eliminating its year-to-date losses in part due to Federal Reserve Chairwoman Janet Yellen's indication earlier last week that the central bank's stimulus tapering plans will stay the course.

--- By Jane Searle and Andrea Tse in New York

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,686.25 +329.38 1.90%
S&P 500 2,050.44 +37.55 1.87%
NASDAQ 4,730.3260 +86.0140 1.85%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs