Losing Streak Extends on Wednesday; Groupon Beats Estimates (GRPN, TSLA)

Wednesday marked the third negative day for US markets on rising uncertainty of taper timing and several corporate earnings misses. Bank of America (BAC) led financials lower after a suit was filed against the bank for allegedly misleading investors. After the bell both Groupon (GRPN) and Tesla (TSLA) announced second quarter earnings. Groupon also named co-founder Eric Lefkofsky as the full-time CEO.
AOL Inc. (AOL) gained 1.5% after saying it would buy video advertising platform Adap.tv for $405 million. The dollar declined against most major currencies while Treasurys gained on strong demand for 10-year notes. Investors look to tomorrow's most recent jobless claims number as an important indicator of current economic status.

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Published on Aug 7, 2013
By InvestorGuide Staff

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