News was light today, but it wont be that way for long. Starting today through Friday over 35% of the S&P 500 will report their earnings results. Traders expect a volatile trading week with earnings being the focus.
The Dow 30 was down 78, the S&P 500 lost 6, and the Nasdaq 100 fared the best only losing 2.
Shares of Micron (MU ) gapped higher by over 6% on the day after the company declared a unique dividend. The company announced a one right for each share of common stock outstanding at the close of business on August 1. This sent shares briefly into positive territory for the year but MU was unable to hold there. Shares closed up 6.02% on the day with well above average volume.
Gap (GPS ) shot up 3.25% today after the apparel retailer was upgraded to "Outperform" from "Peer Perform" at Wolfe Research. This further extends its rally that began back in May as shares attempt to show some green on the year.
Roper (ROP ) lost 5.71% today after missing top- and bottom-line estimates for the quarter and lowering its third-quarter and full-year earnings guidance. The diversified manufacturer cited slower global growth and headwinds in the energy market for its disappointing results and guidance.
Shares of Yahoo! (YHOO ) fell by 2.7% as the company continues to be in the news after they agreed to be acquired by Verizon (VZ ) for approximately $4.83 billion in cash. The final deal does not include the Yahoo! stake in Alibaba Group (BABA ) or Yahoo! Japan
