Greater Than Expected Job Losses Weigh Down Markets

August 5, 2009 6:47 AM |
Job losses in July rose more than expected to weigh the markets down to a lower open with the Dow losing 27 points to 9292. Nasdaq eased a fraction to 2011.

On the upside

While second quarter results dropped for Garmin (Nasdaq: GRMN), the results beat expectations by a wide margin.

Whole Foods Market (Nasdaq: WFMI) reported a unexpected increase in third quarter earnings and lifted its full year outlook.

Radian Group (NYSE: RDN) reversed year ago losses to post a profit for the second quarter.

On the downside

American Capital (Nasdaq: ACAS) widened second quarter losses and remains in default of $2.3 billion.

American Axle & Manufacturing (NYSE: AXL) reported a wider than expected loss for the second quarter as revenue tumbled.

Dean Foods (NYSE: DF) reported higher second quarter earnings but revenue fell to miss expectations.

In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 3 on the both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks slipped 3 points to 566.

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This page contains a single entry by published on August 5, 2009 6:47 AM.

Rising Pending Home Sales Lifts Markets was the previous entry in this blog.

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