The markets extended its losses during the midday with the Dow tumbling 136
points to 11,346 as investors monitored discussions between Germany and France for political solutions to the economic crisis. Nasdaq plunged 46 points to
2508.
On the upside
Falling oil prices lifted shares of Delta Air Lines (NYSE: DAL).Private equity firm Permira Funds will pay approximately $440 million to acquire Renaissance Learning (Nasdaq: RLRN).
China Medical Technologies (Nasdaq: CMED) reported higher first quarter earnings as revenue climbed.
On the downside
Magnum Hunter (NYSE: MHR) declared a warrant dividend to purchase common shares at $10.50 per share payable on October 14, 2011 to shareholders of record August 31, 2011.
China TechFaith Wireless Communication Technology (Nasdaq: CNTF) reported lower second quarter earnings even as revenue climbed.
Gulf Resources (Nasdaq: GURE) blamed rising expenses and a drop in bromine production for sharply lower second quarter earnings and cut its full year outlook.
In the broad market, declining issues outpaced advancers by a margin ofnearly 4 to 1 on the NYSE and by nearly 9 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks plunged 17 points to 701.
