Lower Close Over Concerns Of Stalled Economic Recovery

Investors concerned about a stalled global economic recovery sent the markets down to a lower close with the Dow falling 57 points to 10,213. Nasdaq edged up a fraction to 2179.

On the upside

Mentor Graphics (Nasdaq: MENT) narrowed second quarter losses more than expected as revenue rose.

Mueller Water Products (NYSE: MWA) priced its offering of $225 million worth of senior notes.

Rumors that Akamai (Nasdaq: AKAM) may be the target of an acquisition lifted shares of the company for a second day.

On the downside

Second quarter earnings for Hibbett Sports (Nasdaq: HIBB) surged and the company lifted its full year outlook but the results fell short of expectations.

Sigmapharm applied for regulatory approval to produce a generic version of Gilead's (Nasdaq: GILD) hepatitis B treatment Hepsera.

GE Capital (NYSE: GE) will provide Blount International (NYSE: BLT) with a $425 million cash flow credit facility.

In the broad market, declining issues outpaced advancers by a margin of more than 3 to 2 on the NYSE while decliners barely edged out advancers by a slim margin on Nasdaq. The Russell 2000 which tracks small cap stocks eased a fraction to 610.