The markets closed lower with the Dow slipping 21 points to 10,739 as investors sought refuge from the weak economy by investing in gold. Nasdaq lost 14 points to 2334.
On the upside
Shares of Rite Aid (NYSE: RAD) rose ahead of its earnings release tomorrow morning before market open.
National Fuel Gas (NYSE: NFG) reported high flow rates at two new Marcellus Shale wells and announced plans to pursue joint-ventures to explore the entire Marcellus Shale property.
Oracle (Nasdaq: ORCL) introduced its new Sustainability Data Management solution which enables clients to manage environmental programs. Oracle also extended its support of Java and Open Source with new tools for developers.
On the downside
Bank of America/Merrill Lynch downgraded Advanced Energy Industries(Nasdaq: AEIS).
Winthrop Realty Trust (NYSE: FUR) increased its offering of common stock to 5 million shares from 3 million and priced the offering at $12.25 per share.
New York Times (NYSE: NYT) warned of of losses for the third quarter as revenue is expected to drop.
In the broad market, declining issues outpaced advancers by a margin of more than 5 to 3 on the NYSE and by 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks fell 7 points to 656.
