Author: Elena Todorova
123jump.com
Last Update: 1:59 PM EST February 21 2006
Stocks declined on upbeat economic data and strong earnings which raised concerns about further interest rate hikes. Wal-Mart also weighed on mood posting less stellar results of 13.4% profit jump in Q4. Home Depot reported 23% net income rise in Q4 on 16% revenue increase and 5.5% same-store sales rise, beating estimates. Federated Department Stores said Q4 profit rose 59% from last year, above expectations.
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