Major indices were down broadly on the continued decline in fuel prices.
The S&P 500 was down 1.8% to 2,022.05. The Dow Jones Industrial Average was down 1.7% to 17,525.25. The Nasdaq was down 1.4% to 4,662.02.
The yield on a 10-year Treasury bond declined sharply, 3.2% to 2.05%.
The price of gold rose about 1.1% to $1,200.
RESTAURANTS
Costa Mesa-based El Pollo Loco Holdings Inc. was up 5.1% to $21.30 and a market cap of about $793.5 million on an analyst upgrade. Robert W. Baird raised its rating from “neutral” to “outperform” with a price target of $34. Shares of the fast-food chicken chain are rated “hold” by three analysts and “buy” with two others, with an average price target of about $30.
HEALTHCARE
Foothill Ranch-based Skilled Healthcare Group Inc. was down 9% to $7.96 and a market cap of about $319.4 million on an analyst downgrade. UBS cut the stock to “sell” from “neutral” and a lower price target of $7.25, from $7.50. The nursing facility owner and operator’s reverse merger with Pennsylvania-based Genesis Health is expected to close in the first quarter of this year.
