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Lower Close On Mixed Earnings

The markets closed lower with the Dow slipping 32 points to 15,451 on mixed earnings news. Nasdaq lost 8 points to 3598.

On the upside

A Seeking Alpha contributor expects Glu Mobile (Nasdaq: GLUU) to beat expectations for the second quarter. 

Xinyuan Real Estate (NYSE: XIN) expanded its share repurchase plan to buy an additional $60 million worth of stock. 

Shares of Iamgold (NYSE: IAG), Eldorado Gold (NYSE: EGO) and Kinross Gold (NYSE: KGC) all rose as gold prices climbed.

On the downside

A Seeking Alpha contributor identified Solar City (Nasdaq: SCTY) as an outrageously valued bubble stock.

Profit taking sank shares of United Microelectronics (NYSE: UMC).

Disappointing retail sales weighed down shares of Aeropostale (NYSE: ARO).   

In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 3 on the NYSE and by nearly 5 to 4 on Nasdaq. The broader S&P 500 index slipped 6 points to 1676.

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