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.
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