The inability of legislators to reach a debt reduction compromise weighed the markets down to a lower close with
the
Dow tumbling 91 points to 12,501. Nasdaq slipped 2 points to
2839.
On the upside
MGIC Investment (NYSE: MTG) chief executive officer Curt S. Culver and chief financial officer J. Michael Lauer each purchased 10,000 shares of company stock.
Tellabs (Nasdaq: TLAB) swung to a second quarter loss but the results were better than expected and the company announced plans to eliminate 330 jobs and cut $50 million in expenses.
Lexmark (NYSE: LXK) reported higher second quarter earnings that surpassed analyst expectations by a wide margin.
STMicroelectronics (NYSE: STM) reported higher second quarter earnings but the company forecast third quarter results below expectations prompting a downgrade.
Second quarter earning rose for Waters (NYSE: WAT) but the results missed expectations.
Lennox International (NYSE: LII) disappointed with lower second quarter earnings that fell short of expectations and the company forecast full year results below estimates.