Markets plummet on disappointing earnings

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Disappointing earnings sent the markets tumbling to a sharply lower open with the Dow plummeting 157 points to 17,942. Nasdaq slipped 5 points to 5,213.

On the upside

First quarter earnings slipped for Infosys (NYSE: INFY) but revenue rose and the company lifted its full year guidance.

Caesars Entertainment (Nasdaq: CZR) restructured its agreement with second-lien note holders.
 
Sanmina (Nasdaq: SANM) reported higher third quarter earnings and topped analyst estimates prompting and upgrade.
 
On the downside

CytRx (Nasdaq: CYTR) priced its public offering of 9.1 million common shares at the discounted price of $2.75 per share.

Lexmark International (NYSE: LXK) fell to a loss for the second quarter on lower revenue and forecast current quarter earnings below estimates.

Albertsons terminated its contract with United Natural Foods (Nasdaq: UNFI) effective September 20, 2015 prompting a downgrade.

In the broad market, declining issues barely edged out advancers by a slim margin on the NYSE while decliners outpaced advancers by more than 10 to 9 on Nasdaq. The broader S&P 500 lost 3 points to 2124. Bitcoin added $2 to $277.

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This page contains a single entry by published on July 21, 2015 6:40 AM.

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