Stagnant Hiring Renews Fears Of Stalled Recovery
Stagnant hiring in June renewed fears of a stalled economic recovery to send the markets down to a sharply lower close with the Dow collapsing 124 points to 12,772. Nasdaq tumbled 38 points to 2937.
On the upside
Jamba Juice (Nasdaq: JMBA) partnered with USA Water Polo to fight childhood obesity.
Speculation that Research in Motion (Nasdaq: RIMM) may be acquired for its intellectual property lifted shares of the Blackberry maker.
Motley Fool listed three reasons to purchase shares of Green Mountain Coffee Roasters (Nasdaq: GMCR).
On the downside
Informatica's (Nasdaq: INFA) earnings warning weighed down shares of fellow enterprise software firms Teradata (NYSE: TDC) and Qlik Technologies (Nasdaq: QLIK).
A123 (Nasdaq: AONE) will raise approximately $39 million but analysts say that the battery maker needs to raise much more capital to remain viable.
Standard & Poor's Ratings Service downgraded the outlook of Walter Energy (NYSE: WLT) to negative while affirming its corporate credit rating of BB-.
In the broad market, declining issues outpaced advancers by a margin of more than 2 to 1 on the NYSE and by nearly 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks plunged 10 points to 807.
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