Lower open as manufacturing growth slows

Slowing manufacturing growth weighed the markets down to a lower open with the Dow losing 39 points to 17,650. Nasdaq added 6 points to 5,134.

On the upside

Lexicon Pharmaceuticals (Nasdaq: LXRX) reported positive results from a Phase 3 clinical trial of oral telotristat etiprate to treat cancer patients with carcinoid syndrome.

CDW (Nasdaq: CDW) reported higher second quarter earnings and revenue that surpassed analyst expectations.

Frontier Communications (Nasdaq: FTR) narrowed losses for the second quarter.

On the downside

RBC Capital Markets downgraded Linn Energy (Nasdaq: LINE) from an Outperform rating to a Sector Perform rating.

Investors locked in profits on Halcon Resources (NYSE: HK).

Second quarter earnings for Trex (NYSE: TREX) fell short of expectations and the company forecast current quarter revenue below estimates.

In the broad market, declining issues outpaced advancers by a margin of 9 to 7 on the NYSE and by 10 to 9 on Nasdaq. The broader S&P 500 slipped a point to 2102. Bitcoin added $1 to $281.
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