Stocks Drift Lower
Stocks declined on Wednesday after Fed Chairman Ben Bernanke testified that the U.S. economy may fall into a recession.
The Dow lost -45.44, the Nasdaq Composite -1.35, and the S&P 500 -2.65.
Monsanto
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PowerRating) reported second quarter earnings surged by 83% on 45% higher revenue than a year ago. MON lost 0.9% today.
Profit fell much less than expected at Best Buy
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PowerRating), with earnings beating estimates by $0.06. BBY shares 1.1%.
CarMax
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PowerRating) reported a 48% decline in profit, missing estimates by $0.07. KMX rose 2.4%
Shares of Immunicor
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PowerRating) surged 9.8% after the company reported much stronger than expected results.
Crude oil jumped nearly $4 per barrel to close at $104.83 and the dollar fell versus the euro.
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