Consumer spending rose less than expected in July to weigh the markets down to a lower open with the Dow tumbling 83 points to 13,024. Nasdaq dropped 24 points to 3056. On the upside
Pandora Media (NYSE: P) widened second quarter losses as revenue surged but the results were better than expected and the online radio services provider lifted its full year revenue guidance. Sarepta Therapeutics' (Nasdaq: SRPT) chief executive Chris Garabedian will present at the Stifel Nicolaus 2012 Healthcare Conference on Wednesday, September 5, 2012. Standard & Poor's will replace Sears Holdings (NYSE: SHLD) on the S&P 500 Index with LyondellBasell Industries (NYSE: LYB) after market close on September 4, 2012. On the downside Ciena (Nasdaq: CIEN) fell to a wider than expected loss for the third quarter and forecast current quarter revenue below estimates.Second quarter earnings slipped to fall short of expectations for Vera Bradley (Nasdaq: VRA) and the accessories company trimmed its full year earnings outlook. TiVo (Nasdaq: TIVO) widened second quarter losses and forecast current quarter results below expectations. In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 2 on the NYSE and by more than 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks fell 6 points to 811.