Mixed open despite strong GDP

The nation's economy expanded at a strong 4% rate in the second quarter but the markets opened mixed with the Dow slipping 11 points to 16,901 over concerns that the Federal Reserve would raise interest rates. Nasdaq gained 20 points to 4463.

On the upside

Twitter (NYSE: TWTR) widened losses for the second quarter but the results were better than expected as revenue surged well above analyst estimates prompting upgrades.

United States Steel (NYSE: X) narrowed losses more than expected.

Bison Capital Holding offered a premium of $9.80 per American Depositary Share to acquire NQ Mobile (NYSE: NQ).

On the downside

Penn West (NYSE: PWE) will conduct an internal review of its accounting practices and expects to restate certain financial results.

Genworth Financial (NYSE: GNW) reported higher second quarter earnings but the results fell short of analyst expectations.

DreamWorks Animation (Nasdaq: DWA) fell to a loss for the second quarter.

In the broad market, advaning issues outpaced decliners by a margin of nearly 5 to 3 on the NYSE and by more than 5 to 2 on Nasdaq. The broader S&P 500 added 2 points to 1972. Bitcoin lost $6 to $574.

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