Investors return from holiday to take profits

Investors returned from the extended Independence Day weekend to take profits ahead of corporate earnings season. The Dow finished the session with a 44 points loss at 17,024 while Nasdaq fell a steeper 34 points to close at 4,451.

On the upside

Shares of BioDelivery Sciences (Nasdaq: BDSI) surged and hit a 52-week high after the company reported positive 2nd stage trial results for its experimental pain drug.

Shares of Camteck (Nasdaq: CAMT) steadily rose higher today after the company announced the launch of its new Eagle product line and early orders from semiconductor device manufacturers.

Shares of Apple (Nasdaq: AAPL) bucked the trend and rose on a positive outlook based on June's sales numbers.

On the downside

Shares of USEC (NYSE: USU) continued to give up recent gains as the uranium fuel provider provided more details about its emergence from Chapter 11 bankruptcy.

Expedia (Nasdaq: EXPE) announced the acquisition of Australia-based Holdings for approximately $650 million in cash expanding into the Asia Pacific online travel booking market.

GT Advanced Technologies (Nasdaq: GTAT) was downgraded by analysts as investors worried that the company may not be part of the expected Apple iPhone 6 launch.

In the broad market, advancing issues were outpaced decliners by a margin of more than 2 to 1 on the NYSE and by a ratio of 4 to 1 on Nasdaq. The broader S&P 500 retreated from its record high shedding 7 points to 1977. Bitcoin lost $15 to $619.

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