On the upside
LDK Solar (NYSE: LDK) posted 2nd quarter earnings that tripled and raised its outlook for the current quarter. The China-based maker of solar wafers was promptly upgraded by analysts.
Mitsubishi UFJ Financial Group offered $3 billion to buy the remaining 35% stake in California's UnionBanCal Corp. (NYSE: UB).
Shares of Gap (NYSE: GAP) rose as the clothing retailer revealed its fall collection.
On the downside
Investment bank JPMorgan Chase (NYSE: JPM) lost $1.5 billion so far in the 3rd quarter due to mortgage-related writedowns.
Shares of Goldman Sachs (NYSE: GS) fell after several analysts downgraded the investment bank.
Thomson Reuters (Nasdaq: TRIN) reported slowing growth as investment banks curtail information purchases.
Shares of Zoltek (Nasdaq: ZOLT) tumbled after analysts downgraded
the carbon fiber maker due in part from the delay in wind-related
contracts.
In the broad market, declining issues outpaced advancers by a margin
of nearly 2 to 1 on the NYSE and by 5 to 3 on Nasdaq. The Russell 2000
which tracks small cap stocks lost 3 points to 748.