The stalemate over a debt reduction plan continued in Congress sending the markets tumbling to close sharply lower with
Dow plunging 96 points to 12,143. Nasdaq fell 9 points to
On the upside
Trefis set a price target of $27.03 for United Continental (NYSE: UAL).
Second quarter earnings fell for Cadence Design Systems (Nasdaq: CDNS) but revenue climbed and Bank of America Merrill Lynch lifted its price target on the semiconductor design company.
Ingram Micro (NYSE: IM) reported lower second quarter earnings but revenue climbed.
Brazilian airliner Gol Linhas Aereas (NYSE: GOL) blamed higher fuel expenses for cutting its earnings guidance for the year.
Southwestern Energy (NYSE: SWN) reported higher second quarter earnings that topped analyst estimates but production fell at some wells.
Shares of Imax (NYSE: IMAX) continued falling posting second quarter earnings that plunged to fall far short of analyst expectations yesterday.
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