Congressional leaders were unable to reach a deal to reduce the deficit sending the markets down to a lower close with
the
Dow dropping 88 points to 12,592. Nasdaq fell 16 points to
2842.
On the upside
Allied Irish Banks (NYSE: AIB) reversed year ago losses to post a profit for the six months of 2011.
Seven Arts Pictures (Nasdaq: SAPX) will jointly produce and develop the motion picture "Neuromancer," which is based on the best-selling science fiction novel written by William Gibson, with Prodigy Pictures.
Bank of America Merrill Lynch analysts Steve Fleishman and Ameet Thakkar upgraded Calpine (NYSE: CPN) to a Buy rating.
Second quarter earnings slipped for Silicon Laboratories (Nasdaq: SLAB) and the company forecast third quarter revenue below analyst expectations.
Bridgepoint Education's (NYSE: BPI) largest shareholder Warburg Pincus will sell all 34.6 million shares of the online educator that the private equity firm owns.
Shares of USG (Nasdaq: USG) continued to fall after reporting a wider than expected loss for the second quarter on Friday.