On the downside
Veraz Networks (Nasdaq: VRAZ) blamed a challenging business environment for forecasting second quarter revenue below expectations.
Shares of Bank of America (NYSE: BAC) and Wells Fargo & Co. (NYSE: WFC) fell as investors sold financial services stocks.
Although the state of Alaska rejected Exxon Mobil's (NYSE: XOM) plan to develop the Point Thomson field, Exxon will begin work on the site.
In the broad market, declining issues outpaced advancers by a margin of nearly 3 to 1 on the NYSE and by more than 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks slipped 2 points to 662.