Closing Bell Report
Existing home sales tumbled by more than double the expected amount to send the markets down to a sharply lower close with the Dow skidding 283 points to 11,349. Nasdaq plummeted 46 points to 2280.
On the upside
Although first quarter earnings fell for Cirrus Logic (Nasdaq: CRUS), the results beat expectations prompting an upgrade.
Sanmina-SCI (Nasdaq: SANM) swung to a profit for the third quarter after selling its personal computing business prompting an upgrade.
Staffing firm Robert Half International (NYSE: RHI) reported higher second quarter earnings that surpassed estimates.
Russian Prime Minister Vladimir Putin criticized the pricing policy of Mechel OAO (NYSE: MTL) sending shares of the mining and steel company plummeting.
Shares of Delta Air Lines (NYSE: DAL) and Northwest Airlines (NYSE: NWA) tumbled after a federal judge set a November 5 trial date for a lawsuit seeking to block Delta's acquisition of Northwest.
On the upside
Although first quarter earnings fell for Cirrus Logic (Nasdaq: CRUS), the results beat expectations prompting an upgrade.
Sanmina-SCI (Nasdaq: SANM) swung to a profit for the third quarter after selling its personal computing business prompting an upgrade.
Staffing firm Robert Half International (NYSE: RHI) reported higher second quarter earnings that surpassed estimates.
On the downside
Varian (Nasdaq: VARI) disappointed with lower third quarter earnings due to delayed shipments and fewer large system installations.Russian Prime Minister Vladimir Putin criticized the pricing policy of Mechel OAO (NYSE: MTL) sending shares of the mining and steel company plummeting.
Shares of Delta Air Lines (NYSE: DAL) and Northwest Airlines (NYSE: NWA) tumbled after a federal judge set a November 5 trial date for a lawsuit seeking to block Delta's acquisition of Northwest.
In the broad market, declining issues outpaced advancers by a margin of more than 4 to 1 on the NYSE and by more than 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks plummeted 17 points to 702.
