Markets Open Lower As International Markets Fall
A drop in international markets weighed domestic markets down to a lower open with the Dow tumbling 83 points to 10,187. Nasdaq fell 8 points to 2170.
On the upside
Marvell Technology Group (Nasdaq: MRVL) reported higher second quarter earnings and announced a stock $500 million stock repurchase plan.
Intuit (Nasdaq: INTU) narrowed fourth quarter losses more than expected as revenue rose to top analyst expectations.
Second quarter earnings slipped for Salesforce.com (NYSE: CRM) but results beat expectations while revenue climbed and the company lifted its full year guidance.
On the downside
Fourth quarter earnings for Corinthian Colleges (NYSE: COCO) rose but the results fell short of expectations and the for-profit educator forecast first quarter profit below estimates.
Kirkland (Nasdaq: KIRK) disappointed with lower second quarter earnings.
Canadian Solar (Nasdaq: CSIQ) swung to a first quarter profit but revised downward its fourth quarter results.
In the broad market, declining issues outpaced advancers by a margin of nearly 4 to 1 on the NYSE and by nearly 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 4 points to 606.
