Gold futures were down $5.10 to $1572.30 and WTI crude futures started off down, but were trading up 23 cents ato $88.37.
The supply chain transport company Ryder System Inc. was up around 8% this morning after reporting a 17% rise in Q2 earnings.
Last night DeVry Inc. (DV) announced that they are cutting their guidance for Q4, resulting in shares trading down over 25% this morning. DV is not the only for-profit educational company that is experiencing a decline. Would this be a good time to by DV?
Peabody Energy Corp. (BTU) fell over 8%, following a weak month in coal stocks. BTU lowered their Q3 guidance to a range between 20 and 45 cents. Analysts were expecting earnings of 65 cents a share.
Shares of the technology networking company Cisco (CSCO) lost over 4.5% after announcing that they would cut 1,200 jobs, and the threat of industry competitor VMware’s acquisition of Nicira.
Lexmark (LXK) declined over 15% this morning after announcing sub-par earnings, along with weak Q3 guidance. LXK is among one of the many stocks affected by weak European demand. United Parcel Service (UPS) reported strong earnings and weak guidance with shares trading lower by about 3%.
David Cornes holds a degree in economics from the University of Montana.