On the upside
Sharply higher revenue lifted second quarter earnings for LKQ (Nasdaq: LKQX) to beat expectations prompting the used auto parts supplier to raise its full year outlook.
International Paper (NYSE: IP) reported higher second quarter earnings that beat expectations due to strong international sales. The company also announced plans to sell subsurface mineral rights for approximately $263 million to Chesapeake Energy (NYSE: CHK).
While second quarter earnings fell for Cablevision Systems (NYSE: CVC), the results surpassed expectations.
On the downside
Although Bare Escentuals (Nasdaq: BARE) posted higher second quarter income that beat expectations, analysts downgraded the cosmetics company when its lowered its full year outlook.
Consol Energy (NYSE: CNX) blamed higher expenses for sharply lower second quarter earnings that fell short of estimates.
A drop in newspaper advertising weighed down second quarter earnings for Valassis Communications (NYSE: VCI) to fall far short of estimates.
In the broad market, declining issues outpaced advancers by a margin of nearly 3 to 2 on the NYSE, and by more than 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks slipped 3 points to 716.
