Markets Extend Losses Over Disappointing Earnings
The markets extended its losses during the midday with the Dow plummeting 144 points to 12,577 over disappointing earnings. Nasdaq fell 22 points to 2867.
On the upside
The Paragon Report issued an equity research paper on StemCells (Nasdaq: STEM) noting recent promising results from a preclinical study on Alzheimer's disease.
A Seeking Alpha contributor listed four reasons to purchase shares of Catalyst Pharmaceuticals (Nasdaq: CPRX).
Regions Financial (NYSE: RF) reported sharply higher second quarter earnings that beat analyst expectations as the company wrote more mortgage and commercial loans.
On the downside
Peabody Energy (NYSE: BTU) reported lower second quarter earnings, forecast current quarter earnings below estimates and cut its production guidance for the year.
WebMD (Nasdaq: WBMD) warned of losses for the second quarter with revenue expected to fall short of its previous guidance and forecast a loss for the full year.
Bruker (Nasdaq: BRKR) reported preliminary second quarter earnings and revenue that fell far short of analyst expectations.
In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 2 on the NYSE and on by nearly 5 to 2 Nasdaq. The Russell 2000 which tracks small cap stocks dropped 8 points to 770.
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