Disappointment with European leaders' handling of their debt crisis weighed the markets down to a lower close with the Dow dropping 76
points to 11,405. Nasdaq fell 31
points to
2523.
On the upside
Regis (NYSE: RGS) shareholder Starboard Value said in a letter to Regis that the company is undervalued, expenses must be lowered and non-core businesses need to be sold.General Steel Holdings (NYSE: GSI) narrowed second quarter losses as revenue nearly doubled.
USA Technologies (Nasdaq: USAT) reported that customers using its ePort cashless payment system at vending machines spent more on purchases than customers using cash.
On the downside
Mad Money's Jim Cramer recommended selling SodaStream (Nasdaq: SODA) saying that the company was not headed in a profitable direction.
France's and Germany's proposal to impose a financial-transaction tax weighed down shares of NYSE Euronext (NYSE: NYX).
MedQuist Holdings (Nasdaq: MEDH) reversed year ago losses to post a profit for the second quarter but revenue slipped to fall short of expectations.
In the broad market, declining issues outpaced advancers by a margin of 8 to 3 on the NYSE and by nearly 7 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks tumbled 13 points to 704.
