Lower open as Chinese economy slows

U. S. factory orders rose more than expected but the markets opened lower with the Dow losing 28 points to 16,541 over concerns that the Chinese economy was slowing. Nasdaq slipped 7 points to 4376.

On the upside

GT Advanced Technologies (Nasdaq: GTAT) fell to a greater than expected loss for the second quarter but the company lifted the low end of its full year earnings guidance.

Chegg (NYSE: CHGG) narrowed losses more than expected on a per share basis for the second quarter.

Mueller Water Products (NYSE: MWA) reported higher third quarter earnings and revenue prompting an upgrade.

On the downside

RetailMeNot (Nasdaq: SALE) reported lower second quarter earnings even as revenue rose.

Bloomin' Brands (Nasdaq: BLMN) disappointed with sharply lower second quarter earnings and cut its full year earnings outlook.

ChannelAdvisor (NYSE: ECOM) widened losses for the second quarter.

In the broad market, declining issues outpaced advancers by a margin of nearly 4 to 1 on the NYSE and by more than 3 to 1 on Nasdaq. The broader S&P 500 lost 3 points to 1934. Bitcoin slipped $4 to $579.

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