Markets Extend Losses As Consumer Sentiment Rises Less Than Expected
The markets extended its losses during the midday with the Dow losing 46 points to 13,057 as consumer sentiment rose less than expected in October. Nasdaq dropped 21 points to 2964. On the upside
Third quarter earnings for Taser International (Nasdaq: TASR) more than tripled as revenue climbed. Varian Medical Systems (NYSE: VAR) reported higher fourth quarter earnings that topped analyst estimates. Acme Packet (Nasdaq: APKT) fell to a loss for the third quarter but the results were better than expected.On the downside HMS Holdings (Nasdaq: HMSY) disappointed with lower third quarter earnings even as revenue rose. Constant Contact (Nasdaq: CTCT) reported higher third quarter earnings but the company's customer conversion rate fell short and the online marketer lowered its revenue guidance for the full year. Standard Pacific (NYSE: SPF) swung to a profit for the third quarter but the results fell short of expectations. In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 2 on the NYSE and by more than 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 8 points to 808.