Despite an increase in pending home sales, the markets opened lower with the Dow slipping 25 points to 12,572 as European debt concerns continued to weigh on investors. Nasdaq lost 18 points to 2855.
On the upside
Wal-Mart (WMT) reported higher first quarter earnings that topped analyst estimates as revenue rose.
Warren Buffet's Berkshire Hathaway will pay approximately $142 million to acquire 63 newspapers from Media General (MEG).
A Seeking Alpha contributor expects Galena Biopharma (GALE) shares to climb over the next three weeks leading up to the American Society of Clinical Oncology conference.
On the downside
Shares of MEMC Electronic Materials (WFR) continued falling after announcing the immediate resignation of chief financial officer Mark Murphy yesterday.
Advance Auto Parts (AAP) reported higher first quarter earnings but the results fell short of analyst expectations and the automotive parts retailer warned of a challenging second quarter.
GameStop (GME) disappointed with lower first quarter earnings and revenue and forecast second quarter income well below expectations.
In the broad market, declining issues outpaced advancers by a margin of more than 3 to 1 on the NYSE and by 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 5 points to 766.
|07:07 PM||Sharply Lower Close On Disappointing Earnings|
|03:07 PM||Markets Retreat To Trade Mixed|
|10:42 AM||Fed To Continue Stimulus Program, Markets Soar|
|Tue, May 21, 2013|
|06:26 PM||Dow Rises To Another Record|
|01:34 PM||Markets Advance Ahead Of Bernanke Testimony|
|10:43 AM||Mixed Open Ahead Of Apple's Testimony|
|Mon, May 20, 2013|
|06:07 PM||Investors Lock In Profits|
|03:00 PM||Profit Taking Weighs Down Markets|
|10:42 AM||Mixed Open After Records Last Week|
|Fri, May 17, 2013|
|06:22 PM||Records For Fourth Consecutive Week|
|03:02 PM||Markets Rise As Consumer Sentiment Climbs|
|10:42 AM||High Open As Consumer Sentiment Climbs|
|Thu, May 16, 2013|
|06:29 PM||Economic Data Weighs Down Markets|
|02:20 PM||Markets Rise On Upbeat Earnings|
|10:42 AM||Mixed Open As Jobless Claims Rise|
|Wed, May 15, 2013|
|06:43 PM||Record Dow Close Again|
|01:23 PM||Rise In Homebuilder Confidence Lifts Markets|
|11:30 AM||Lower Open As Factory Output Drops|
|Tue, May 14, 2013|
|06:27 PM||Another Dow Record As Investor Confidence Grows|
|01:03 PM||Investor Optimism Lifts Markets|
|10:42 AM||Higher Open On Lower Import Prices|
|Mon, May 13, 2013|
|06:07 PM||Mixed Close Over Stimulus Concerns|
|01:34 PM||Markets Mixed As Retail Sales Rise|
|10:43 AM||Stimulus May End, Markets Open Lower|
|Fri, May 10, 2013|
|06:31 PM||Another Winning Week|
|02:06 PM||Mixed Markets As Investors Monitor Global Developments|
|11:33 AM||Mixed Open After Record Week|
|Thu, May 09, 2013|
|06:01 PM||Markets Retreat From Record Highs|
|03:13 PM||Markets Rise As Jobless Claims Drop|
|10:42 AM||Markets Retreat After Yesterday's Record Close|
|More News From MarketMinute.com Market Updates|