On the upside
Second quarter earnings fell for United Online (Nasdaq: UNTD) but the results beat analyst expectations and the company announced plans to separate into two publicly traded companies.
OfficeMax (NYSE: OMX) reversed year ago losses to post a better than expected profit for the second quarter.
On the downside
Incyte (Nasdaq: INCY) swung to a profit for the second quarter but the biopharmaceutical changed its revenue recognition model.
Standard & Poor's downgraded the long and short term ratings for ArcelorMittal (NYSE: MT).
Monster Worldwide (NYSE: MWW) reported lower second quarter earnings and forecast lower third quarter results.
In the broad market, declining issues outpaced advancers by a margin of 5 to 3 on the NYSE and by more than 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 2 points to 768.