Stocks Down On Housing ( HIG, GMCR, ZNGA, SAI, USG, FSLR, YGE, ASGN, CTAS )

Stocks fall On home-sales data (HIG, GMCR, ZNGA, SAI, USG, FSLR, YGE, ASGN, CTAS)

Stocks fell slightly on Wednesday after Home resales surprisingly fell in February and the supply of properties on the market climbed, underscoring the many hurdles for the housing recovery.
The National Association of Realtors said existing home sales fell 0.9% to an annual rate of 4.59 million units last month missing economists’ estimates of sales to rise to a 4.62 million-unit sales pace last month. January's sales pace was revised up to 4.63 million units from the previously reported 4.57 million units.
The Dow Jones Industrial Average slid 21 points to 13,149. The S&P 500 Index declined 1.30 points to 1,404 .The Nasdaq Composite surged 4 points to 3,078.

Stocks In Focus
Hartford Financial Services(NYSE:HIG) shares are trading higher by over 45 after announcing major business restructuring under which, the company would exit its annuity business and may also sell a large part of its life-insurance unit.

Green Mountain Coffee Roasters Inc.(NASDAQ:GMCR) edged up 6.50% after the company said that it will distribute the Starbucks Corporation(NASDAQ:SBUX) Vue packs at retailers and department stores this fall.
Zynga Inc(NASDAQ:ZNGA) shares also rose about 3.40% to the highest point of the session at $13.85.

In earnings news, SAIC, Inc.(NYSE:SAI) shares soared over 6.505 after posting a loss of $160 million or $0.49 a share on revenue of $2.49 billion  in its fourth-quarter, compared to analysts’ estimates of a loss of 34 cents a share on revenue of $2.67 billion. The company projects to earn $1.26 to $1.36 on revenues of $10.7 billion to $11.2 billion in the FY2013, compared to analysts’ estimates of $1.38 per share on revenues of $10.71 billion for fiscal 2013.
USG Corporation(NYSE:USG) climbed over 12% as it posted an impressive preliminary results for the past two months. The company said that loss for January and February 2012 came at $30.5 million on sales of $516.9 million, compared to a net loss of $82.3 million on revenue of $446.9 million in the comparable two-month period in 2011. operating profit stood at $5.7 million.

Solar stocks are under selling pressure with First Solar, Inc.(NASDAQ:FSLR) slid 5.72% and Yingli Green Energy Hold. Co. Ltd. (ADR)(NYSE:YGE) slumped over 12%.

On Assignment, Inc.(NASDAQ:ASGN) shares climbed 30.775 after it agreed to acquire privately-held rival Apex Systems Inc. for $600 million. The transaction, expected to close in May 2012, will create one of the largest professional staffing firms and the second-largest IT staffing company in the U.S.

Cintas Corporation(NASDAQ:CTAS) shares turned lower by 3% despite the company reported higher profit in its third-quarter and lifted its outlook. The company earned 58 cents a share on revenue of $1.01 billion, compared to analysts’ estimate of 52 cents a share.