Markets Lower Over Cautious Outlooks

On the upside

Although July same store sales for Limited Brands (NYSE: LTD) fell, the drop was not as great as analysts were expecting.

Investors were pleasantly surprised by MBIA's (NYSE: MBI) second quarter profit.

SXC Health Solutions (Nasdaq: SXCI) reported second quarter earnings that jumped more than three times last year prompting the company to boost its full year guidance.

On the downside

While Brinker International (NYSE: EAT) reported fourth quarter earnings that were better than expected, the parent company of Chili's Grill & Bar forecast first quarter results well below analyst estimates.

The Buckle (NYSE: BKE) reported a much smaller than expected same store sales increase of 2.8%.

A legal settlement lifted Huntsman's (NYSE: HUN) second quarter income but adjusted earnings fell short of expectations.

In the broad market, declining issues outpaced advancers by a margin of 7 to 5 on the NYSE and by nearly 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 4 points to 561.