On the upside
Although third quarter earnings for Paccar (Nasdaq: PCAR) fell due to soft demand, the results beat expectations by 4 cents.
QLogic (Nasdaq: QLGC) reported lower second quarter earnings but revenue surpassed expectations.
While CEC Entertainment (NYSE: CEC) posted lower earnings, the results beat expectations.
On the downside
Riverbed Technology (Nasdaq: RVBD) swung to a third quarter profit but analysts were disappointed that the results merely met expectations rather than beat estimates.
While Electronics for Imagin (Nasdaq: EFII) swung to a third quarter profit, the results fell short of expectations.
Wall Street Journal reported increasing delinquencies of option adjustable rate mortgages originated by Countrywide Financial (NYSE: CFC).
In the broad market, declining issues outpaced advancers by a margin of more than 5 to 1 on the NYSE and by nearly the same on Nasdaq. The Russell 2000 which tracks small cap stocks plunged 21 points to 797.