Lower Close Ahead Of Election
November 02, 2012 at 09:51 AM EDT
The markets closed lower with the Dow plummeting 139 points to 13,093 despite upbeat jobs data as the upcoming election next week weighed on investors. Nasdaq plunged 37 points to 2982.On the upsideBig 5 Sporting Goods (Nasdaq: BGFV) reported higher third quarter earnings and revenue that beat analyst expectations.Shares of Southcross Energy (NYSE: SXE) soared on its first trading day.Third quarter earnings surged for Cooper Tire & Rubber (NYSE: CTB) to surpass analyst expectations by a wide margin as expenses dropped. On the downsideNewmont Mining (NYSE: NEM) reported sharply lower third quarter earnings that fell short of expectations as revenue dropped.Fluor (NYSE: FLR) reported higher third quarter earnings but the results missed expectations and the company forecast 2013 results below expectations.Accuride (NYSE: ACW) widened third quarter losses as revenue fell.In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 2 on the NYSE and by more than 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks tumbled 13 points to 814.
