Post-election selling resumed as investors worried about the "fiscal cliff". The Dow lost 36 points to 12,895 while Nasdaq dropped a steeper 14 points to 2923.
On the upside EnergySolutions (NYSE: ES) posted earnings that met expectations while beating revenue targets. The provider of specialized, technology-based nuclear services also reaffirmed its profit outlook for 2012.
EZchip Semiconductor (Nasdaq:EZCH) announced a large customer order in the 3rd quarter that lifted its top line revenue numbers.
Salix Pharmaceuticals (Nasdaq: SLXP) met revenue estimates while eclipsing consensus estimates for earnings. On the downside OraSure Technologies (Nasdaq: OSUR) posted higher revenues and earnings, but its outlook for the 4th quarter disappointed. The company sells oral diagnostic kits for HIV.
Concho Resources (NYSE: CKO) reported lower than expected earnings and revenues even though oil production reached record levels in the 3rd quarter.
Shares of Genomic Health (Nasdaq: GHDX) fell after posting higher quarterly earnings, but the medical diagnostic company missed revenue expectations. In
the broad market, declining issues outnumbered advancers by a 3 to 2 margin on both the NYSE and Nasdaq. The Russell 2000 which tracks
small cap stocks lost 4 points to 800.