U.S. stocks ended on a lower note weighed by a weaker-than-forecast home sales and European data. Worries over the implementation of Greece's second bailout deal also dented the sentiment.
S&P 500 Index lost 0.33 percent to finish at 1,357.66. The Dow Jones Industrial Average retreated 0.21 percent to end at 12,938.67. The Nasdaq Composite Index closed at 2,933.17, down 0.52 percent.
On the economic front, existing-home sales grew for the month of January, marking an advance for the third time in the last four months, yet came in below forecast. One of the key indicator of overall economic strength, Existing-home sales rose 4.3 percent to 4.57 million in January from a downwardly revised 4.38 million in December, and are 0.7 percent higher from January 2011 levels. Economists expected sales of 4.67 million for the month.
Hot Stocks Of The Day: (HP, ADI, GRMN, CHS, TOL, DELL)
In corporate news, Hewlett-Packard Co. (NYSE:HPQ) retreated 1.8 percent to $28.36 in extended trading after the technology giant guided second-quarter EPS below consensus. HP sees non-GAAP EPS between 88 cents and 91 cents, below Wall Street view of 95 cents. The company reported non-GAAP EPS of 92 cents on revenue of $30.0 billion for the first quarter. Analysts' expected EPS of 87 cents on revenue of $30.7 billion.
Analog Devices Inc. (NYSE:ADI) dropped 2 percent to $38.99 in extended trading after the analog semiconductor company reported weak first-quarter earnings and guided second quarter below consensus. Non-GAAP EPS from continuing operations fell to 46 cents from 66 cents, trailing consensus estimate of 48 cents. Revenue was $648 million, below expectations of $662.3 million. Gross margin fell to 63.2 percent from 66.2 percent. For the second-quarter, ADI sees EPS between 48 cents and 53 cents, on revenue in the range of $655 million to $675 million. Analysts' expect EPS of 54 cents on revenue of $683 million.
Dell Inc. (NASDAQ:DELL) extended its losses to end at $17.15, down 5.8 percent after its quarterly EPS missed forecasts. Non-GAAP EPS was 51 cents on revenue of $16 billion. Analysts' expected EPS of 52 cents on revenue of $15.96 billion for the fourth quarter. For the first quarter, the company expects revenue to drop about 7 percent from the prior quarter.
Garmin Ltd.