The Dow Adds 16 Points, Nasdaq Closes Flat

The Dow added 15.62 points today to close at 12,276.32 the Nasdaq fell 0.18 points to close at 2,387.55, and the S&P 500 added 0.96 points to close at 1,42.85. Separately, oil fell $1.59 to close at $60.05.

Volume was modest with 2.7 billion shares trading on the NYSE and 1.96 billion trading on the Nasdaq. Advancers topples Decliners by a margin of 19:13 on the NYSE and 16:13 on the Nasdaq.

In Individual Stories:

Big Lots (NYSE: BIG) gained 16.5% after reporting Q4 earnings of $0.83 per share, 13 cents better than estimates. Revenues came in at $1.55 billion versus the consensus of $1.53 billion. Sees Q1 EPS of $0.18-$0.22 versus the consensus of $0.16. Sees FY08 EPS of $1.18-$1.23 versus the consensus of $1.04. Big Lots also announces a $600 million stock buyback plan.

PeopleSupport (Nasdaq: PSPT) fell 39.3% after reporting Q4 EPS of $0.18 (Q4 EPS was $0.07 ex-tax benefit) vs. consensus of $0.11 - EPS may not be comparable. Revenues were $31.0 million vs. $29.98 million consensus. For the first quarter of 2007, the company expects revenues to be between $32 million and $33 million. For the same period, the company expects diluted earnings per share to be $0.10 to $0.12 based on approximately 24.3 million shares outstanding on a diluted basis. (Consensus is $32.09 million and EPS consensus is $0.15). For the full year of 2007, the company expects revenues to be between $140 million and $144.5 million. (Consensus $145.86 million). Also, the stock received multiple downgrades today.

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