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Market Update : 
Retailers Decline, Techs Rebound
Author: 123jump.com Staff
123jump.com
Last Update: 1:31 PM EDT March 28 2008



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U.S. stocks traded sideways after earnings warning from JC Penney. The department store retailer warned that earnings for the quarter will be near 50 cents per share, lower than earlier forecast between 75 cents and 80 cents. The warning dragged most retailers lower. Lehman Brothers traded lower after Citigroup raised the stock rating and set target price of $65. Consumer spending in February rose 0.1% after gaining 0.4% in January. Consumer sentiment index in March declined.

 

 

 

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