Consumer confidence slumped in February to its lowest level in over four and a half years, signaling a severe economic downturn ahead, the Conference Board said on Tuesday. The index was down for the fifth straight month to 106.8 from a revised 115.7 reading in January. New orders for U.S. manufactured goods also tumbled in January, reflecting a huge drop in orders for commercial aircraft and parts. Wall Street was wary about Gateway's prospects Tuesday ahead of the company's analyst meeting. Analysts said the maker of supply-chain management software wasn't entirely to blame.
Analysts cut estimates but maintained their respective ratings.
Prodigy Communications beat analysts' estimates in its fourth quarter but saw its losses more than double from a year earlier. Copyright 2001, ZDNet. All rights reserved.