Investors welcomed passage of tax cut extensions but were concerned that Ireland's credit downgrade will hurt U. S. exports as the dollar gains strength. The markets traded mixed with the Dow slipping 20 points to 11,478 while Nasdaq gained 8 points to 2645.
On the upside
A U. S. district judged dismissed a lawsuit against YRC Worldwide (Nasdaq: YRCW) seeking to overturn concessions made by the Teamsters to YRC.
Take-Two Interactive Software (Nasdaq: TTWO) reversed year ago losses to post a better than expected profit for the fourth quarter.
First quarter earnings climbed for Accenture (NYSE: ACN) to top analyst estimates prompting the management consulting and technology outsourcing services firm to lift its full year guidance.
On the downside
British bank Lloyds (NYSE: LYG) warned of further exposure to its Irish portfolio as Ireland struggles to stabilize its economy.
UBS downgraded Digital Realty Trust (NYSE: DLR) to a Sell rating.
The Justice Department will not intervene in a False Claims Act lawsuit against Gilead Sciences (Nasdaq: GILD) filed by a former employee of CV Therapeutics.
In the broad market, declining issues outpaced advancers by a margin of more than 10 to 9 on the NYSE and by 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a point to 775.
