Closing Bell: More negative close than it felt like

The Commerce Department's Q4-2007 final revision for GDP came in at +0.6%, but that was in-line and the data is now more than 75-days old. But it does highlight the concerns that the growth rates this quarter just can not be good. It also set the tone for more selling. It just goes to show that it still pays in today's climate to sell when you are feeling good about the market and buy when you feel overly concerned.

The Federal Reserve also auctioned off some $75 billion in treasury securities after receiving bids for some $86.1 billion. This was the first auction of its kind and the next auction is set for April 3. Below are the unofficial closing prices:

DJIA 12,302.70 (-120.16; -0.97%)
NASDAQ 2,280.83 (-43.53; -1.87%)
S&P500 1,325.77 (-15.36; -1.15%)
10YR-TBond 3.534% (+0.04%)
Key 52-Week Lows

If you look at the unusual increase seen in short selling in many of the NASDAQ names from this morning, you might scratch your head. But that's the world we live in.

3Com Corporation (NASDAQ: COMS) was a standout call today, as Bernstein raised its rating to an outperform after this stock had been pounded and pounded. Shares closed up 5% at $2.25. Top 10 Pre-Market calls available.

Elsewhere in technology, Oracle Corporation (NASDAQ: ORCL) was the more active loser today after the company's revenues were slightly under target yesterday. Shares closed down 7% at $19.43.

Google Inc. (NASDAQ: GOOG) saw shares fall by 3% more down to $444.08 after different measurement numbers out of comScore showed soft ad-click trends and after analysts took down their targets this week on the internet search giant.

Lehman Brothers Holdings, Inc. (NYSE: LEH) had to issue an "all-clear" bulletin after negative rumors were circling the stock after what was deemed unusual out of the money put option activity. Lehman closed down almost 9% at $38.71. Meredith Whitney at Oppenheimer made several more cuts in financial stocks today.

ConAgra Foods, Inc. (NYSE: CAG) is apparently not feeling the pain of higher energy, feedstock, and commodity prices as the company blew past earnings expectations on strong year over year earnings. Shares closed up a sharp 7% to $23.45.