The markets opened sharply lower with the Dow plummeting 141 points to 17,371 over concerns about the Chinese economy. Nasdaq fell 29 points to 5,030.
On the upside
Seagate (Nasdaq: STX) will pay a premium of approximately $694 million in cash to acquire Dot Hill Systems (Nasdaq: HILL) .
The Food and Drug Administration granted Fast Track designation to Corbus Pharmaceuticals’ (Nasdaq: CRBP) Resunab to treat systemic sclerosis.
Target (NYSE: TGT) reported higher second quarter earnings that surpassed expectations and lifted its full year earnings outlook.
On the downside
Canadian Solar (Nasdaq: CSIQ) reported sharply lower second quarter earnings and forecast current quarter and full year revenue below expectations.
The Greek government cited violations for the cessation of activity at Eldorado Gold’s (NYSE: EGO) northern Greek mine.
American Eagle Outfitters (NYSE: AEO) reported sharply higher second quarter earnings that beat analyst expectations but the stock price fell.
In the broad market, declining issues outpaced advancers by a margin of more than 5 to 1 on the NYSE and by nearly 4 to 1 on Nasdaq. The broader S&P 500 tumbled 13 points to 2,083. Bitcoin fell $7 to $248.