Lower Close Over Continued Global Economic Concerns
Despite a gain in June private employer hiring, the markets closed lower with the Dow losing 47 points to 12,896 over continued global economic concerns. Nasdaq held steady at 2976. On the upside
Arena Pharmaceuticals (Nasdaq: ARNA) promoted Craig M. Audet to the position of Senior Vice President, Operations and Head of Global Regulatory Affairs. Kohl's (NYSE: KSS) reported a drop in June same store sales but sales improved at the end of the month. LeapFrog (Nasdaq: LF) announced the resignation of chief financial officer Mark Etnyre effective October 1, 2012. On the downside Ampio Pharmaceuticals (Nasdaq: AMPE) founder and chief scientific officer Dr. David Bar-Or and chairman and lead investor Michael Macaluso extended their lock-up agreement from July 15, 2012 to January 2013. UBS downgraded Veolia Environment (NYSE: VE) from Neutral to Sell. Profit taking sank shares of BPZ Resources (NYSE: BPZ). In the broad market, declining issues outpaced advancers by a margin of 9 to 7 on the NYSE and by more than 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks slipped a point to 817.