The markets opened lower with the Dow losing 39 points to 14,963 despite an increase in existing home sales as the impending Federal Reserve tapering weighed on investors. Nasdaq slipped 2 points to 3611.
On the upside
Incyte (Nasdaq: INCY) reported upbeat results from a Phase II clinical trial of its pancreatic cancer treatment ruxolitinib.
Lowe's (NYSE: LOW) reported higher second quarter earnings and revenue that beat analyst expectations prompting the home improvement retailer to lift its full year outlook.
Second quarter earnings surged for SGOCO Group (Nasdaq: SGOC) as revenue climbed.
On the downside
Staples (Nasdaq: SPLS) disappointed with lower second quarter earnings and revenue that fell short of analyst expectations and cut its full year guidance.
Second quarter earnings rose for American Eagle Outfitters (NYSE: AEO) but revenue fell and the teen apparel retailer forecast sharply lower current quarter earnings that missed expectations by a wide margin.
Angie's List (Nasdaq: ANGI) named Thomas R. Fox to the position of chief financial officer.
In the broad market, declining issues outpaced advancers by a margin of more than 3 to 1 on the NYSE and by nearly 2 to 1 on Nasdaq. The broader S&P 500 slipped 3 points to 1648.
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