Losses extended as earnings disappoint

The markets extended its losses during the midday with the Dow plummeting 146 points to 16,937 as corporate earnings disappoint. Nasdaq dropped 25 points to 4,446.

On the upside

Shares of El Pollo Loco (Nasdaq: LOCO) surged in its market debut.

VeriSign (Nasdaq: VRSN) reported sharply higher second quarter earnings that beat analyst expectations as revenue rose.

Mellanox Technologies (Nasdaq: MLNX) widened second quarter losses but the results were better than expected.

On the downside

Maxim Integrated Products (Nasdaq: MXIM) disappointed with lower fourth quarter earnings that fell short of analyst expectations and forecast current quarter results below estimates.

Brightcove (Nasdaq: BCOV) widened losses for the second quarter and forecast full year results that fell short of expectations prompting downgrades.

WellCare Health Plans (NYSE: WCG) fell to a loss for the second quarter and slashed its full year earnings outlook.

In the broad market, declining issues outpaced advancers by a margin of more than 2 to 1 on both the NYSE and on Nasdaq. The broader S&P 500 fell 11 points to 1976. Bitcoin added $1 to $597.

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