Sharply Lower Close Over Tapering Concerns

The markets closed sharply lower with the Dow plummeting 93 points to 15,518 over concerns that the Federal Reserve will begin tapering its bond buying program in September. Nasdaq dropped 27 points to 3665.

On the upside

PBF Energy (NYSE: PBF) will trade ex-dividend on August 8, 2013.

Vocera Communications (NYSE: VCRA) fell to a loss for the second quarter but the results were better than expected prompting an upgrade.

Bargain hunters lifted shares of Nam Tai Electronics (NYSE: NTE).

On the downside

Nautilus (NYSE: NLS) swung to a profit for the second quarter but revenue slipped.

EXCO Resources (NYSE: XCO) reported higher second quarter earnings but the results missed expectations.

Furniture Brands (NYSE: FBN) widened second quarter losses as revenue slipped.

In the broad market, declining issues outpaced advancers by a margin of nearly 3 to 1 on the NYSE and by nearly 7 to 3 on Nasdaq. The broader S&P 500 fell 9 points to 1697.

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