Stocks Open Lower on Mixed Economic Data

Orders for durable goods rose sharply in July driven by higher commercial aircraft orders and automotive sales.   However, investors remained worried about consumer spending weighing down the major indexes. The Dow fell 37 points to 9502 while Nasdaq gave up 3 points to 2020. 

On the upside

Vonage (NYSE: VG) announced an unlimited international call that includes numerous countries.  Investors were counting on the move to stem the loss of subscribers.

An analyst upgraded jeweler Tiffany & Company (NYSE: TIF) ahead of its earnings report later this week.

Shares of Human Genome Sciences (Nasdaq: HGSI) soared on market rumors of a takeover bid by British drugmaker and partner GlaxoSmithKline (NYSE: GSK).

On the downside

Isle of Capri Casinos (Nasdaq: ISLE) announced lower quarterly revenues and narrow profit with the outlook hazy due to questionable consumer spending.

An analyst downgrade Netezza (NYSE: NZ), a maker of data storage equipment.

Bridgepoint Education (NYSE: BPI) filed to sell up to 11 million in new shares.

In the broad market, declining issues outpaced advancers by a margin of more than 2 to 1 on the NYSE and by 3 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks slipped a point to 582.

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