The World Bank trimmed its economic growth outlook for Asia which weighed the markets town to a lower open with the Dow losing 43 points to 13,566. Nasdaq dropped 22 points to 3113. On the upside
ITG Research said that used retail revenue growth for CarMax (NYSE: KMX) was greater than last year. Morgan Stanley analyst Scott Devitt upgraded Netflix (Nasdaq: NFLX) to an Overweight rating. Marathon Petroleum (NYSE: MPC) will pay approximately $2.5 billion to acquire a Texas City refinery from BP. On the downside Wal-Mart (NYSE: WMT) partnered with American Express (NYSE: AXP) to offer a reloadable prepaid card to customers. Shares of prepaid card company Green Dot (NYSE: GDOT) tumbled. Affymetrix (Nasdaq: AFFX) warned that third quarter revenue would fall short of analyst expectations. BTIG downgraded Facebook (Nasdaq: FB) to a Sell rating. In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 3 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks lost 3 points to 839.