Drop In Retail Sales Weighs Down Markets

The markets closed modestly lower with the Dow losing 24 points to 9256 as another drop in retail sales dampened optimism of an economic recovery. Nasdaq fell 19 points to 1973.

On the upside

Second quarter earnings for Ansys (Nasdaq: ANSS) slipped but the results topped analyst estimates.

Assured Guaranty (NYSE: AGO) declared a quarterly dividend of $0.045 per common share payable on September 10, 2009 to shareholders of record August 21, 2009.

Home Inns & Hotels Management (Nasdaq: HMIN) reported sharply higher second quarter revenue.

On the downside

MiddleBrook Pharmaceuticals (Nasdaq: MBRK) widened second quarter losses by a wide margin.

The Wall Street Journal reported that competitors of YRC Worldwide (Nasdaq: YRCW) are contacting YRC's clients to highlight YRC's financial problems and to undercut their prices.

Excel Maritime (NYSE: EXM) reported sharply lower second quarter earnings and announced the offering of 5 million common shares.

In the broad market, declining issues outpaced advancers by a margin of more than 5 to 3 on the NYSE and by more than 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 8 points to 557.

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