Markets Extend Losses As Jobs Creation Disappoints
The markets extended its losses during the midday with the Dow collapsing 167 points to 12,729 as employers added a mere 80,000 jobs in June. Nasdaq plummeted 50 points to 2925. On the upside
Xyratex (Nasdaq: XRTX) swung to a profit for the second quarter and forecast current quarter earnings ahead of analyst estimates. A Seeking Alpha contributor wrote that Antares Pharma (Nasdaq: ATRS) was a long term investment. A Seeking Alpha contributor has optimistic expectations for Xoma (Nasdaq: XOMA). On the downside Oppenheimer lowered its price target on EMC (NYSE: EMC) yesterday to $32 from $34. BMO Capital Markets analyst Tim Long lowered his second quarter revenue guidance and full year earnings and revenue outlook for Riverbed Technology (Nasdaq: RVBD). Navistar International (NYSE: NAV) will introduce its clean engine solution In-Cylinder Technology Plus but investors were concerned about the costs of the new engine. In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 2 on the NYSE and by more than 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks tumbled 10 points to 806.