Stocks Recover from Early Lows to End Mixed (YHOO, VZ)

Stocks edge back toward positive territory after early losses to end slightly below opening levels. Encouraging news from the consumer confidence index, which rose to it’s highest level in six months, could not help force stocks into gains. Earnings reports continued to trickle in, as Yahoo (YHOO) beat expectations but still recorded losses and Verizon (VZ) missed forecasts. The majority of Dow companies recorded losses for the day, as well, aiding the market downturn. In political news, President Obama is expected to announce a budget freeze in an attempt at curbing federal spending that’s caused the budget to increase seemingly beyond control.

Word on the Street

• President Obama will call for a 5 year spending freeze during his State of the Union address tonight in an attempt to reduce the bulging deficit.
• US home prices decreased in December, the most in over a year.
• Consumers produce optimistic sentiment as confidence rises to it’s highest since May 2010.
• Google’s (GOOG) aggressive hiring plans are outlined in their quarterly report, projecting as much as a 25% increase in their workforce.
• Bank of America (BAC) being sued – again – for Countrywide’s faulty mortgage issuances.
• Yum Brands (YUM) subsidiary Taco Bell plans to move forward as defendant in lawsuit claiming questionable ingredients in their meat products.
• Google’s strong earnings and new CEO have investors worried, curious, and excited for the future.

Interesting Tidbits

• We read everywhere about innovative start-ups destined for greatness. But is it possible for an established company to become innovative, as well?
• Why do many young management teams fail? Here’s a list of reasons.
• Struggling to get your company’s Facebook page to make a real impact? Check out these tips to turn your social media plan into a needle mover.

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