Flat open on modest gain in wholesale inventories

The markets opened flat with the Dow adding 2 points to 16,370 as wholesale inventories rose a modest 0.3% in June. Nasdaq lost 6 points to 4327.

On the upside

The Food and Drug Administration modified the clinical hold on Tekmira Pharmaceuticals' (Nasdaq: TKMR) Ebola treatment to allow for possible use in humans.

Mercadolibre (Nasdaq: MELI) fell to a loss for the second quarter but the results were better than expected.

Nvidia (Nasdaq: NVDA) reported higher second quarter earnings that beat analyst expectations and forecast current quarter revenue ahead of estimates.

On the downside

Post Holdings (NYSE: POST) fell to an unexpected loss for the third quarter, cut its full year earnings guidance and announced plans to acquire peanut butter maker American Blanching.

Volcano (Nasdaq: VOLC) swung to a profit for the second quarter, agreed to settle litigation with St. Jude Medical and will divest from its Axsun Technologies subsidiary but the stock price tumbled.

Bankrate (NYSE: RATE) widened losses for the second quarter as revenue fell short of expectations.

In the broad market, advancing issues outpaced decliners by a margin of more than 7 to 5 on the NYSE and by nearly 10 to 9 on Nasdaq. The broader S&P 500 held steady at 1909. Bitcoin added $3 to $590.

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