Gain in consumer spending lifts markets

An uptick in consumer spending lifted the markets to a higher open with the Dow climbing 71 points to 21,961. Nasdaq gained 24 points to 6,372.


On the upside


Lumber Liquidators (NYSE: LL) swung to an unexpected profit for the second quarter as revenue rose.


International Game Technology (NYSE: IGT) fell to a loss for the second quarter but the company declared a quarterly dividend of 20 cents per share payable on August 24, 2017 to shareholders of record August 11, 2017.


Cognex (Nasdaq: CGNX) impressed with higher second quarter earnings and revenue that beat expectations.

On the downside


Pitney Bowes (NYSE: PBI) disappointed with lower second quarter earnings and revenue that fell short of expectations.


Under Armor (NYSE: UA) will cut approximately 280 jobs and cut its full year forecast.

Geron (Nasdaq: GERN) updated development plans for Merge and IMbark.


In the broad market, advancing issues outpaced decliners by a margin of more than 4 to 3 on the NYSE while decliners edged out advancers by nearly 9 to 8 on Nasdaq. The broader S&P 500 gained 7 points to 2,477. Bitcoin tumbled $60 to $2632.


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