Closing Bell Report

Rising oil prices and disappointing earnings sent the markets tumbling to a sharply lower close with the Dow plummeting 131 points to 12,029. Nasdaq plunged 28 points to 2430.

On the upside

A Stifel Nicolaus analyst lifted his price target for Consol Energy (NYSE: CNX) citing rising coal prices.

Canadian Solar (Nasdaq: CSIQ) raised its revenue outlook for 2008 due to increased sales to German clients.

Jefferies & Co. initiated coverage of Penn Virginia (NYSE: PVA) with a Buy rating.

On the downside

Analysts were disappointed with Clarcor's (NYSE: CLC) second quarter results even though earnings rose to beat estimates by a penny.

Concerns of further losses in the financial sector sent shares of Regions Financial (NYSE: RF) tumbling.

Shares of SunTrust Banks (NYSE: STI) continued to fall after Goldman Sachs lowered its price target as well as its earnings outlook for the company.

In the broad market, declining issues outpaced advancers by a margin of 5 to 2 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 6 points to 731.

Stock Market XML and JSON Data API provided by FinancialContent Services, Inc.
Nasdaq quotes delayed at least 15 minutes, all others at least 20 minutes.
Markets are closed on certain holidays. Stock Market Holiday List
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
Press Release Service provided by PRConnect.
Stock quotes supplied by Six Financial
Postage Rates Bots go here