Markets Extend Losses
The markets extended its losses during the midday with the Dow plummeting 160 points to 13,388 as earnings disappoint. Nasdaq sank 57 points to 3015.
On the upside
Manpower (NYSE: MAN) reported lower third quarter earnings but the results surpassed analyst expectations and the workforce solutions company forecast current quarter results ahead of estimates.
Robert Half (NYSE: RHI) reported higher third quarter earnings that beat expectations as revenue climbed.
Third quarter earnings rose for Honeywell (NYSE: HON) to top analyst estimates.
On the downside
Shares of Clearwire (Nasdaq: CLWR) continued falling after Sprint (NYSE: S) announced plans to take a majority stake in wireless broadband provider.
Parker Hannifin (NYSE: PH) disappointed with lower third quarter earnings that fell far short of analyst expectations.
E*Trade (Nasdaq: ETFC) fell to an unexpected loss for the third quarter.
In the broad market, declining issues outpaced advancers by a margin of more than 4 to 1 on the NYSE and by more than 5 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks plunged 16 points to 820.
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