Manufacturing in China fell and new business and services contracted in Europe to weigh the markets down to a lower open with the Dow losing 44 points to 13,533. Nasdaq fell 17 points to 3164. On the upside
Chimera Investment (NYSE: CIM) declared a quarterly dividend of 9 cents per common share payable on October 29, 2012 to shareholders of record September 27, 2012. ConAgra (NYSE: CAG) reported higher first quarter earnings that beat analyst expectations as sales rose prompting the food company to lift its full year guidance. Exxon Mobile (NYSE: XOM) will purchase Denbury Resources' (NYSE: DNR) Bakken shale fields for approximately $1.6 billion in cash. On the downside Horizon Pharma (Nasdaq: HZNP) priced its public offering of approximately 21.4 million units at $3.50 per unit. Ascent Solar Technologies (Nasdaq: ASTI) priced its public offering of more than 9.1 million common shares t the discounted price of $1.20 per share. Bed Bath & Beyond (Nasdaq: BBBY) disappointed with lower second quarter earnings that fell short of analyst expectations and forecast third quarter earnings below estimates. In the broad market, declining issues outpaced advancers by a margin of more than 3 to 1 on the NYSE and by nearly 7 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks fell 7 points to 848.