Mixed open despite strong GDP

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The nation's economy expanded at a strong 4% rate in the second quarter but the markets opened mixed with the Dow slipping 11 points to 16,901 over concerns that the Federal Reserve would raise interest rates. Nasdaq gained 20 points to 4463.

On the upside 

Twitter (NYSE: TWTR) widened losses for the second quarter but the results were better than expected as revenue surged well above analyst estimates prompting upgrades.

United States Steel (NYSE: X) narrowed losses more than expected.

Bison Capital Holding offered a premium of $9.80 per American Depositary Share to acquire NQ Mobile (NYSE: NQ).

On the downside 

Penn West (NYSE: PWE) will conduct an internal review of its accounting practices and expects to restate certain financial results.

Genworth Financial (NYSE: GNW) reported higher second quarter earnings but the results fell short of analyst expectations. 

DreamWorks Animation (Nasdaq: DWA) fell to a loss for the second quarter.

In the broad market, advaning issues outpaced decliners by a margin of nearly 5 to 3 on the NYSE and by more than 5 to 2 on Nasdaq. The broader S&P 500 added 2 points to 1972. Bitcoin lost $6 to $574.

The markets reversed course in afternoon trading to close lower with the Dow dropping 70 points to 16,912 as earnings disappointed. Nasdaq slipped 2 points to 4442.

On the upside 

The Food and Drug Administration approved Pharmacyclics' (Nasdaq: PCYC) chronic lymphocytic leukemia treatment IMBRUVICA.

Cynosure (Nasdaq: CYNO) reversed year ago losses to post a better than expected profit for the second quarter.

Second quarter earnings fell for Medidata Solutions (Nasdaq: MDSO) but revenue climbed to top analyst estimates.

On the downside 

Targacept (Nasdaq: TRGT) will discontinue its TC-5214 overactive bladder program.

Investors locked in profits on El Pollo Loco (Nasdaq: LOCO). 

GrafTech International (NYSE: GTI) fell to a loss for the second quarter as revenue slipped.

In the broad market, declining issues outpaced advancers by a margin of more than 3 to 2 on the NYSE while advancers were on par with decliners on Nasdaq. The broader S&P 500 lost 8 points to 1969. Bitcoin slipped $2 to $581.

The markets traded modestly higher during the midday with the Dow rising 14 points to 16,997 as home prices rose less than expected in May. Nasdaq gained 12 points to 4457.

On the upside 

Second quarter earnings slipped for PGT (Nasdaq: PGTI) but the results were better than expected.

Cognex (Nasdaq: CGNX) reported sharply higher second quarter earnings that surpassed analyst expectations by a wide margin and forecast current quarter revenue ahead of estimates.

Shares of Frontier Communications (Nasdaq: FTR) surged after rival Windstream Holdings (Nasdaq: WIN) announced plans to spin-off its telecommunications assets.

On the downside 

Aliance Fiber Optic Products (Nasdaq: AFOP) reported lower second quarter earnings.

The Food and Drug Administration issued a Form 483 with ten inspectional observations to Impax Laboratories (Nasdaq: IPXL) after conducting a general inspection of the company's manufacturing facility in Taiwan. 

Oshkosh (NYSE: OSK) disappointed with lower than expected earnings for the second quarter and cut its earnings guidance for the full year.

In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 3 on the NYSE and by nearly 5 to 2 on Nasdaq. The broader S&P 500 edged up a fraction to 1979. Bitcoin slipped $5 to $579.

Gains by international markets lifted domestic markets to a higher open with the Dow climbing 65 points to 17,048. Nasdaq gained 24 points to 4468.

On the upside 

Windstream Holdings (Nasdaq: WIN) will spin off its telecommunications network assets into an independent, publicly traded real estate investment trust.

Camtek (Nasdaq: CAMT) reported higher second quarter earnings that beat analyst expectations as revenue rose.

Integrated Devices (Nasdaq: IDTI) reversed year ago losses to post a better than expected profit for the first quarter.

On the downside 

Meridian Bancorp (Nasdaq: EBSB) closed its stock offering and completed the conversion transaction.

TheStreet wrote that Galectin Therapeutics (Nasdaq: GALT) paid stock promoters to issue press releases promoting the company. 

Herbalife (NYSE: HLF) disappointed with lower second quarter earnings that fell short of analyst expectations.

In the broad market, declining issues outpaced advancers by a margin of 5 to 3 on the NYSE and by more than 2 to 1 on Nasdaq. The broader S&P 500 gained 5 points to 1984. Bitcoin lost $6 to $578.

Flat close despite merger news

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The markets closed flat with the Dow rising 22 points to 16,982 despite news of corporate consolidations. Nasdaq slipped 4 points to 4444.

On the upside 

TheStreet Ratings affirmed its Buy rating on EMC (NYSE: EMC).

UBS upgraded AbbVie (NYSE: ABBV) from a Neutral rating to a Buy rating.

Global Hunter upgraded Basic Energy Services (NYSE: BAS) from a Neutral rating to an Accumulate rating.

On the downside 

Manhattan Bridge Capital (Nasdaq: LOAN) priced its public offering of more than 1.754 common shares at the discounted price of $2.85 per share.

SkyWest (Nasdaq: SKYW) warned that second quarter results would fall short of expectations. 

TheStreet affirmed its Buy rating on Micron Technology (Nasdaq: MU) but the stock price fell.

In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 4 on the NYSE and by nearly 5 to 3 on Nasdaq. The broader S&P 500 held steady at 1978. Bitcoin lost $6 to $589.

Merger news lifts markets

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Merger news lifted the markets during the midday with the Dow rising 25 points to 16,986. Nasdaq held steady at 4449.

On the upside 

China BAK Battery (Nasdaq: CBAK) entered a strategic cooperation agreement with Dalian Institute of Chemical Physics of China Academy of Sciences to research and develop next-generation battery technology.

Shares of Move (Nasdaq: MOVE) rose on news of Zillow's (Nasdaq: Z) offer for Trulia (NYSE: TRLA).

GOL Linhas (NYSE: GOL) reported a record load factor and customer satisfaction level for June.

On the downside 

Compass Minerals International (NYSE: CMP) fell to an unexpected loss for the second quarter.

Ceragon Networks (NYSE: CRNT) swung to a profit for the second quarter but margins fell. 

Greenlight Capital sold its holdings in Rite Aid (NYSE: RAD).

In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 4 on the NYSE and by more than 3 to 2 on Nasdaq. The broader S&P 500 added a point to 1979. Bitcoin lost $7 to $582.

Lower open despite merger news

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The markets opened lower with the Dow falling 64 points to 16,896 despite a flurry of merger news. Nasdaq dropped 31 points to 4,417.

On the upside 

Dollar Tree (NYSE: DLTR) will pay approximately $8.5 billion to buy Family Dollar Stores (NYSE: FDO).

Trulia (NYSE: TRLA) will be acquired by Zillow (Nasdaq: Z) for approximately $3.5 billion.

Shares of El Pollo Loco (Nasdaq: LOCO) continued climbing after an impressive market debut on Friday.

On the downside 

The Food and Drug Administration rejected AcelRx's (Nasdaq: ACRX) needle-free pain medication device Zalviso.

Armstrong World Industries (NYSE: AWI) disappointed with lower second quarter earnings that fell short of analyst expectations and lowered its full year outlook. 

CVS Caremark (NYSE: CVS) and Express Scripts (Nasdaq: ESRX) will no longer include Horizon Pharma's (Nasdaq: HZNP) Duexis and Vimovo on their formularies.

In the broad market, declining issues outpaced advancers by a margin of 2 to 1 on the NYSE and by more than 5 to 2 on Nasdaq. The broader S&P 500 lost 9 points to 1968. Bitcoin fell $14 to $575.

Investors sold-off as corporate earnings disappointed. The markets closed sharply lower with the Dow plunging 123 points to 16,960 while Nasdaq fell 22 points to 4,449.

On the upside 

Second quarter earnings slipped for HomeAway (Nasdaq: AWAY) but the results were better than expected and the company forecast current quarter as well as full year revenue ahead of estimates.

Newpark Resources (NYSE: NR) reported higher second quarter earnings and revenue that surpassed analyst expectations.

Acacia Research (Nasdaq: ACTG) widened second quarter losses but the results were better than expected as revenue more than doubled.

On the downside 

Swift Transportation (NYSE: SWFT) reported lower second quarter earnings and blamed a shortage of truck drivers for forecasting current quarter revenue below expectations.

Second quarter earnings rose for Silicon Laboratories (Nasdaq: SLAB) but the company forecast current quarter earnings that fell short of expectations. 

DragonWave (Nasdaq: DRWI) priced its public offering of 13.85 million units at a discount.

In the broad market, declining issues outpaced advancers by a margin of nearly 2 to 1 on the NYSE and by more than 2 to 1 on Nasdaq. The broader S&P 500 lost 9 points to 1978. Bitcoin rose $3 to $599.

The markets extended its losses during the midday with the Dow plummeting 146 points to 16,937 as corporate earnings disappoint. Nasdaq dropped 25 points to 4,446.

On the upside 

Shares of El Pollo Loco (Nasdaq: LOCO) surged in its market debut.

VeriSign (Nasdaq: VRSN) reported sharply higher second quarter earnings that beat analyst expectations as revenue rose.

Mellanox Technologies (Nasdaq: MLNX) widened second quarter losses but the results were better than expected.

On the downside 

Maxim Integrated Products (Nasdaq: MXIM) disappointed with lower fourth quarter earnings that fell short of analyst expectations and forecast current quarter results below estimates.

Brightcove (Nasdaq: BCOV) widened losses for the second quarter and forecast full year results that fell short of expectations prompting downgrades. 

WellCare Health Plans (NYSE: WCG) fell to a loss for the second quarter and slashed its full year earnings outlook.

In the broad market, declining issues outpaced advancers by a margin of more than 2 to 1 on both the NYSE and on Nasdaq. The broader S&P 500 fell 11 points to 1976. Bitcoin added $1 to $597.

Disappointing earnings sent the markets tumbling to a sharply lower open with the Dow plunging 102 points to 16,980. Nasdaq lost 14 points to 4,457.

On the upside 

Qlik Technologies (Nasdaq: QLIK) widened second quarter losses but the results were better than expected.

The Royal Bank of Scotland (NYSE: RBS) reported higher second quarter earnings.

Baidu (Nasdaq: BIDU) reported sharply higher second quarter earnings that surpassed analyst expectations by a wide margin as revenue climbed.

On the downside 

Pandora Media (NYSE: P) widened second quarter losses, forecast third quarter earnings below expectations and reported sequentially lower active listeners and listener hours.

Amazon (Nasdaq: AMZN) widened second quarter losses more than expected even as revenue rose prompting  a series of downgrades. 

Informatica (Nasdaq: INFA) reported higher second quarter earnings and revenue but the company forecast current quarter results that missed analyst expectations prompting downgrades.

In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 3 on the NYSE and by nearly 7 to 2 on Nasdaq. The broader S&P 500 lost 5 points to 1982. Bitcoin added $3 to $599.

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