Greek Bailout Funds Delayed, Markets Mixed
The markets opened mixed with the Dow rising 28 points to 12,843 while Nasdaq lost 8 points to 2895 after crucial bailout funds for Greece was delayed for at least a week.
On the upside
Michael Kors (NYSE: KORS) reported sharply higher second quarter earnings and revenue that surpassed analyst expectations and lifted its full year earnings outlook.
Third quarter revenue and earnings rose for Home Depot (NYSE: HD) to top analyst estimates.
Galena Biopharma (Nasdaq: GALE) reported a smaller than expected loss for the third quarter. On the downside
Weatherford International (NYSE: WFT) reported lower third quarter earnings and forecast fourth quarter earnings below expectations.
Tronox (NYSE: TROX) fell to a loss for the third quarter even as revenue rose.
AK Steel (NYSE: AKS) warned that losses for the fourth quarter will widen more than expected.
In the broad market, declining issues outpaced advancers by a margin of more than 5 to 4 on the NYSE and by more than 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks held steady at 793.
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