Closing Bell Report
It was a mixed close for the markets with Google's disappointing earnings weighing down the tech heavy Nasdaq while the financial serivces sector lifted the Dow 50 points to 11,497. Nasdaq plunged 30 points to 2283.
On the upside
MF Global (NYSE: MF) raised $150 million through the sale of preferred shares and will use the proceed to repay part of a $1.4 billion bridge loan facility.
Oilfield services provider Schlumberger (NYSE: SLB) reported higher second quarter earnings that surpassed expectations as clients increased searches for new crude oil and natural gas sources.
The Securities and Exchange Commission accepted Freddie Mac's (NYSE: FRE) filing to raise capital through a stock offering.
On the upside
MF Global (NYSE: MF) raised $150 million through the sale of preferred shares and will use the proceed to repay part of a $1.4 billion bridge loan facility.
Oilfield services provider Schlumberger (NYSE: SLB) reported higher second quarter earnings that surpassed expectations as clients increased searches for new crude oil and natural gas sources.
The Securities and Exchange Commission accepted Freddie Mac's (NYSE: FRE) filing to raise capital through a stock offering.
On the downside
Although A&P supermarket chain parent Greater Atlantic & Pacific Tea (NYSE: GAP) narrowed first quarter losses, the results missed expectations.
Second quarter earnings for Manpower (NYSE: MAN) fell and the recruitment firm forecast third quarter results below estimates due to a sluggish global economy.
Advanced Micro Devices (NYSE: AMD) widened second quarter losses and announced the departure of chief executive Hector Ruiz.
In the broad market, advancing issues outpaced decliners by a margin of more than 10 to 9 on the NYSE while decliners edged out advancers by more than 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 4 points to 693.
