It was a flat close for the markets with the Dow easing a point to 10,465 as the nation's economy expanded at a slower than expected pace during the second quarter. Nasdaq added 3 points to 2254.
On the upside
Sierra Wireless (Nasdaq: SWIR) reported a narrower than expected loss for the second quarter due to record revenue.
Chiquita Brands (NYSE: CQB) impressed with higher second quarter earnings that topped analyst expectations.
Second quarter earnings for McAfee (NYSE: MFE) rose to beat expectations as revenue increased.
On the downside
TeleCommunication Systems (Nasdaq: TSYS) disappointed with sharply lower second quarter earnings despite record revenue prompting a downgrade.
Despite a surge in second quarter earnings for Thoratec (Nasdaq: THOR), the medical device maker forecast full year results below expectations.
Belo (NYSE: BLC) reported second quarter earnings that nearly doubled but revenue fell short of expectations.
In the broad market, advancing issues outpaced decliners by a margin of nearly 3 to 2 on the NYSE and by nearly 5 to 4 on Nasdaq. The Russell 2000 which tracks small cap stocks edged up a fraction to 650.
Sluggish expansion of the nation's gross domestic product weighed down the markets during the midday with the Dow dropping 47 points to 10,420. Nasdaq slipped 5 points to 2246.
On the upside
Trident Microsystems (Nasdaq: TRID) reported a narrower than expected loss for the second quarter.
American Axle & Manufacturing (NYSE: AXL) swung to a better than expected second quarter profit as revenue more than doubled.
Macatawa Bank (Nasdaq: MCBC) reversed year ago losses to post its first profit in seven quarters as loan loss provisions plunged.
On the downside
BioScrip (Nasdaq: BIOS) reported lower second quarter earnings that fell short of estimates and warned of weak full year revenue.
Genworth Financial (NYSE: GNW) swung to a second quarter profit but the results missed expectations and warned of slowing sales in the second half of the year.
While Louisiana-Pacific (NYSE: LPX) reversed year ago losses to post a profit for the second quarter, the results fell short of analyst estimates.
In the broad market, declining barely edged out advancers by a slim margin on the NYSE while advancers outpaced decliners by more than 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a fraction to 650.
Growth of the nation's economy slowed in the second quarter to weigh the markets down to a lower open with the Dow falling 31 points to 10,435. Nasdaq dropped 10 points to 2241.
On the upside
Power One (Nasdaq: PWER) reversed year ago losses to post a better than expected profit for the second quarter and the company forecast third quarter results ahead of estimates.
Alcatel-Lucent (NYSE: ALU) reported a greater than expected second quarter loss but the telecommunications company affirmed its growth outlook for the second half of the year.
The Food and Drug Administration will allow Geron (Nasdaq: GERN) to conduct the world's first clinical trial of human embryonic stem cell based therapy in human patients.
On the downside
TeleNav (Nasdaq: TNAV) reported higher fourth quarter income that topped analyst estimates but warned that changes to its contract with Sprint (NYSE: S), the company's largest client, may reduce future revenue.
Second quarter earnings surged for Acme Packet (Nasdaq: APKT) and the company lifted its full year outlook but investors expected even greater 2010 results.
MEMC Electronic Materials (NYSE: WFR) reported higher second quarter earnings but the results fell short of expectations and the company warned that it will miss its full year income guidance.
In the broad market, declining issues outpaced advancers by a margin of 7 to 5 on the NYSE and by more than 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks slipped a point to 648.
While initial applications for unemployment benefits fell more than analysts expected, investors were hoping for an even greater drop. The markets closed lower with the Dow slipping 30 points to 10,467 while Nasdaq lost 12 points to 2251.
On the upside
Questcor Pharmaceuticals (Nasdaq: QCOR) reported record revenue for the second quarter.
Shares of Molycorp (NYSE: MCP) surged on its first trading day.
Ameriprise Financial (NYSE: AMP) reported second quarter earnings that nearly tripled to surpass analyst expectations by a wide margin as revenue soared.
On the downside
Neutral Tandem (Nasdaq: TNDM) disappointed with lower second quarter earnings that fell short of expectations.
Second quarter earnings fell for Arris Group (Nasdaq: ARRS) to miss expectations.
Covance (NYSE: CVD) reported lower second quarter earnings and forecast third quarter income well below expectations.
In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 4 on the NYSE while decliners edged out advancers by nearly 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a fraction to 650.
The markets retreated during the midday with the Dow losing 46 points to 10,451 despite a drop in jobless claims. Nasdaq fell 19 points to 2244.
On the upside
Acadia Pharmaceuticals (Nasdaq: ACAD) initiated a Phase III trial of its Parkinson's disease psychosis treatment pimavanserin.
Teradyne (NYSE: TER) reversed year ago losses to post a profit for the second quarter.
Hill-Rom (NYSE: HRC) impressed with higher third quarter earnings and lifted its full year outlook.
On the downside
Network Engines (Nasdaq: NENG) swung to a profit for the second quarter but revenue fell short.
AsiaInfo-Linkage (Nasdaq: ASIA) reported higher second quarter earnings but investors were disappointed that the results failed to beat expectations.
Quantum (NYSE: QTM) disappointed with a loss for the first quarter.
In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 3 on the NYSE and by more than 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 6 points to 644.
First time applications for unemployment benefits fell last week to lift the markets to a higher open with the Dow gaining 44 points to 10,542. Nasdaq added 4 points to 2268.
On the upside
Citrix (Nasdaq: CTXS) reported higher second quarter earnings as revenue rose and forecast third quarter results ahead of expectations.
Entropic Communications (Nasdaq: ENTR) swung to a second quarter profit prompting an upgrade.
Second quarter earnings more than tripled for Interpublic (NYSE: IPG) as revenue climbed while expenses fell.
On the downside
Vistaprint (Nasdaq: VPRT) reported lower fourth quarter earnings and offered a disappointing first quarter outlook.
First quarter earnings for Symantec (Nasdaq: SYMC) more than doubled but revenue fell short and the company forecast current quarter results below expectations prompting a downgrade.
Nvidia (Nasdaq: NVDA) blamed continued economic weakness for lowering its second quarter revenue guidance.
In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 2 on the NYSE and by nearly 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks rose 3 points to 653.
An unexpected drop in durable goods orders sent the markets down to a lower close with the Dow losing 39 points to 10,497. Nasdaq dropped 23 points to 2264.
On the upside
Basic Energy Services (NYSE: BAS) narrowed second quarter losses as revenue climbed.
Las Vegas Sands (NYSE: LVS) narrowed second quarter losses more than expected on sharply higher revenue.
FuelCell Energy (Nasdaq: FCEL) announced net proceeds of approximately $4.2 million from the sale of 3.6 million common shares.
On the downside
East West Bancorp (Nasdaq: EWBC) reversed year ago losses to post a better than expected profit for the second quarter but the company warned of greater than expected expenses in the current quarter.
Allos Therapeutics (Nasdaq: ALTH) widened losses for the second quarter as expenses soared.
Second quarter earnings for International Game Technology (NYSE: IGT) rose but the company forecast full year results below analyst estimates.
In the broad market, declining issues outpaced advancers by a margin of nearly 2 to 1 on the NYSE and by nearly 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks tumbled 11 points to 650.
The markets traded lower during the midday with the Dow falling 17 points to 10,520 over an unexpected drop in durable goods orders. Nasdaq lost 13 points to 2275.
On the upside
Silicon Image (Nasdaq: SIMG) reported an unexpected profit for the second quarter as revenue climbed and forecast third quarter revenue ahead of expectations.
CB Richard Ellis Group (NYSE: CBG) reversed year ago losse to post a better than expected profit for the second quarter.
Affymetrix (Nasdaq: AFFX) will develop and market the Axiom Chinese myDesign Genotyping Array designed specifically for Chinese populations.
On the downside
FormFactor (Nasdaq: FORM) narrowed second quarter losses but the stock price fell.
Eastman Kodak (NYSE: EK) disappointed with a larger than expected loss for the second quarter.
Websense (Nasdaq: WNSN) disappointed with lower second quarter earnings and forecast third quarter revenue below analyst estimates.
In the broad market, declining issues outpaced advancers by a margin of 5 to 3 on the NYSE and by nearly 7 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 6 points to 655.
A drop in durable goods orders weighed the markets down to a lower open with the Dow losing 22 points to 10,515. Nasdaq fell 7 points to 2280.
On the upside
Health Grades (Nasdaq: HGRD) reported higher second quarter earnings that topped analyst estimates and announced that private equity firm Vestar Capital Partners will acquire the company for approximately $294 million.
Enbridge Energy Partners (NYSE: EEP) will pay approximately $682 million in cash to acquire Atlas Pipeline Partners' (NYSE: APL) Elk City facilities.
Second quarter earnings for Wyndham Worldwide (NYSE: WYN) rose to beat expectations prompting the company to lift its full year guidance.
On the downside
Allos Therapeutics (Nasdaq: ALTH) widened second quarter losses.
Century Aluminum (Nasdaq: CENX) swung to a profit for the second quarter but the results fell short of estimates.
Global Payments (NYSE: GPN) reported lower fourth quarter earnings that fell short of expectations and forecast 2011 results below estimates prompting a downgrade.
In the broad market, declining issues outpaced advancers by a margin of 9 to 7 on the NYSE and by 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a point to 660.
It was a mixed close for the markets with the Dow adding 12 points to 10,537 due to a larger than expected drop in consumer confidence. Nasdaq lost 8 points to 2288.
On the upside
PrivateBancorp (Nasdaq: PVTB) reported a loss for the second quarter that was narrower than expected.
Second quarter earnings for Unisys (NYSE: UIS) more than tripled.
Ferro (NYSE: FOE) reversed year ago losses to post a second quarter profit as revenue climbed.
On the downside
Mindspeed Technologies (Nasdaq: MSPD) swung to a profit for the third quarter but the stock price tumbled.
Sanofi-Aventis requested that a district court order the Food and Drug Administration to withdraw its approval of Momenta's (Nasdaq: MNTA) generic version of Sanofi's blood thinner Lovenox.
Range Resources (NYSE: RRC) reversed year ago losses but the results missed expectations.
In the broad market, declining issues outpaced advancers by a margin of more than 5 to 4 on the NYSE and by more than 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks slipped 3 points to 662.
