Consumer Sentiment Drops, Markets Fall

An unexpected drop in August consumer sentiment weighed the markets down during the midday with the Dow losing 52 points to 15,059. Nasdaq slipped 2 points to 3603.

On the upside

NF Energy Saving (Nasdaq: NFEC) continued rising after reporting higher second quarter earnings on Wednesday.

Pfizer (NYSE: PFE) will begin a new clinical trial of the pain medication Remoxy that was developed by Pain Therapeutics (Nasdaq: PTIE) and Durect (Nasdaq: DRRX).

Aspen Technology (Nasdaq: AZPN) reversed year ago losses to post a stronger than expected profit for the fourth quarter.


On the downside


MannKind (NYSE: MNKD) satisfied conditions to sell a second tranche of senior convertible notes.


Brazil's Federal Revenue Service fined Itau Unibanco Holdings (NYSE: ITUB) nearly $8 billion in back taxes.

Investors locked in profits on China Commercial Credit (Nasdaq: CCCR).

In the broad market, declining issues outpaced advancers by a margin of nearly 2 to 1 on the NYSE and by nearly 10 to 9 on Nasdaq. The broader S&P 500 lost 7 points to 1653.

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