The resignation of European Central Bank Executive Board Member Juergen Stark sent the markets tumbling to a sharply lower open with the Dow plummeting 134 points
to 11,161. Nasdaq fell 11
poRints to 2518.
On the upside
Ulta Salon (Nasdaq: ULTA) reported higher second quarter earnings and revenue that topped analyst expectations and forecast current quarter results ahead of estimates.
Swift Transportation (NYSE: SWFT) will provide a mid-quarter update through a conference call on Monday, September 12, 2011.
Marvell Technology (Nasdaq: MRVL) will present its high-definition ARMADA Systems-on-Chips family of media processors at the IBC 2011 being held from September 9-13 in Amsterdam.
On the downside
VeriSign (Nasdaq: VRSN) announced the resignation of chief financial officer Brian Robins.
Lululemon Athletica (NYSE: LULU) reported higher second quarter earnings that topped analyst estimates but the athletic apparel company forecast disappointing third quarter results.
Kroger (Nasdaq: MW) reported higher second quarter earnings and revenue but the grocery store chain warned that rising expenses will impact results.
In the broad market, declining issues outpaced advancers by a margin of more than 4 to 1 on the NYSE and by more than 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks tumbled 6 points to 688.
