The Dow Gains 14, Nasdaq Falls 4

The Dow gained 13.62 points today to close at 12,461.14 the Nasdaq falls 4.18 points to close at 2,451.74, and the S&P 500 lost 0.50 points to close at 1,434.54. The markets closed mixed, but relatively close to the flat line. However, the biggest news on Wall Street today, was from a private company, The Blackstone Group. The company, following the recent IPO of Fortress (NYSE: FIG) and recent rumors, has decided to go public in a $4 billion IPO.

Volume was modest with 3.19 billion shares trading on the NYSE and 1.98 billion trading on the Nasdaq.
Advancers topped decliners by a margin of 17:16 on the NYSE and 16:14 on the Nasdaq.

In Individual stories, Tweeter Home Entertainment (Nasdaq: TWTR) gained 27% after the Company decided to consolidate operations including 49 store closures and layoffs. The restructuring is expected to dramatically improves the Company's profitability and cash flow. Scholastic Corp (NASDAQ: SCHL) fell 12.6% after reporting a Q3 loss of $0.18 (including $0.04 gain on the sale of an investment) vs. consensus for a loss of $0.08. Revenues were $497.0 million vs. $498.56 million consensus. Based on lower than expected results in Continuities in the third quarter, and the revised outlook for this business in the fourth quarter, the Company now expects full year earnings in the range of $1.40 to $1.60 per diluted share on revenues of $2.1 to $2.2 billion. (Current FY07 EPS consensus is $1.74 and revenue consensus is $2.19 billion)

Tomorrow, investors will be looking for economic data on February Existing Home Sales (10:00AM EST).

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