Mixed Open As New Home Sales Drop
The markets opened mixed with the Dow gaining 54 points to 12,672 while Nasdaq lost 14 points to 2848. Construction equipment maker Caterpillar reported strong earnings but sales of new homes fell more than expected in June.
On the upside
Riverbed Technology (Nasdaq: RVBD) reported higher second quarter earnings that topped analyst expectations and forecast current quarter revenue ahead of estimates.
First quarter earnings slipped for Symantec (Nasdaq: SYMC) but revenue rose and the company named chairman Steve Bennett to replace chief executive Enrique Salem effective immediately.
Juniper Networks (NYSE: JNPR) reported lower second quarter earnings and revenue but the results were better than expected.
On the downside
Netflix (Nasdaq: NFLX) reported sharply lower second quarter earnings as subscriber growth slowed and warned of losses at the end of the year.
International Game Technology (NYSE: IGT) disappointed with sharply lower third quarter earnings that fell short of analyst expectations.
Weatherford International (NYSE: WFT) reported higher second quarter earnings and revenue but the oilfield services firm took a $100 million charge.
In the broad market, advancing issues outpaced decliners by a margin of more than 9 to 7 on the NYSE and by nearly 2 to 1 Nasdaq. The Russell 2000 which tracks small cap stocks added 2 points to 770.
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