Major Indices Flat on Poor Retail Sales (BAC, GT)

Major indices closed unchanged today as perceived stability in Europe was offset by poor retail performance. US retail sales increased by 0.4 percent in January, but this was well short of economists' projection of 0.9 percent. In most positive news, Standard & Poor have revised the state of California's outlook to positive from stable. Bank of America (BAC) was downgraded by Citi (C) to neutral, explaining that the bank's strong performance has been due to market conditions rather than fundamentals.
Goodyear (GT) meanwhile reported an $18 million profit in Q4, contrasted against a $177 million net loss the year before.

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Published on Feb 14, 2012
By InvestorGuide Staff

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