The markets trimmed its losses after the Federal Reserve announced that it would purchase government debt but still closed lower with the Dow losing 54 points to 10,644. Nasdaq tumbled 28 points to 2277.
On the upside
Netflix (Nasdaq: NFLX) announced a five year agreement to stream Lionsgate, MGM and Paramount movies for nearly $1 billion.
Universal Display (Nasdaq: PANL) narrowed second quarter losses as revenue surged.
Second quarter earnings rose for Gammon Gold (NYSE: GRS) as revenue climbed.
On the downside
Second quarter earnings for Himax Technologies (Nasdaq: HIMX) slipped.
Grand Canyon Education (Nasdaq: LOPE) reported higher second quarter earnings that topped estimates but the company forecast third quarter results that fell short of expectations.
Shares of Mueller Water Products (NYSE: MWA) continued to fall after RBC Capital Markets downgraded the company yesterday.
In the broad market, declining issues outpaced advancers by a margin of more than 5 to 2 on the NYSE and by 7 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 13 points to 646.
