Markets Slip As China's Growth Forecast Lowered
Economists lowered their forecast for China's economic growth which weighed the markets down during the midday. The Dow slipped 2 points to 13,304 while Nasdaq fell 16 points to 3120.
On the upside
Jaguar Mining (NYSE: JAG) named David M. Petroff to the position of president and chief executive officer.
Related Companies will acquire KSW (Nasdaq: KSW) for a premium of $5.00 per share in cash.
Shares of Green Mountain Coffee Roasters (Nasdaq: GMCR) continued climbing after announcing on Friday plans to introduce a line of fruit drinks with antioxidants and vitamins.
On the downside
Titan Machinary (Nasdaq: TITN) disappointed with lower second quarter earnings that fell far short of analyst expectations and cut its full year income guidance. Nordion (NYSE: NDZ) lost a claim for damages from supplier Atomic Energy of Canada Limited prompting the medical science company to suspend its dividend.
Toys R Us announced that it will introduce its own touchscreen tablet for children sending shares of LeapFrog (NYSE: LF) tumbling.
In the broad market, declining issues barely edged out advancers by a slim margin on the NYSE and by 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks edged down a fraction to 841.
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