Third Triple-digit Down Day

Stocks closed lower on Tuesday, sending the Dow Jones Industrial Average to its third straight triple-digit loss, after a report from the Wall Street Journal reiterated that the Federal Reserve is moving closer to action to spur growth. The Dow fell 104.14 points, or 0.82%, to 12,617.32. The S&P 500 lost 12.21 points, or 0.90%, to 1,338.31. The Nasdaq Composite lost 27.16 points, or 0.94%, to 2,862.99.

Federal Reserve officials are moving closer to taking new action to try to spur the economy, according to a report Tuesday by the Wall Street Journal.The report said that conversations inside the Fed had turned toward how and when to move but did not find a consensus for what steps the Fed might take at its meeting next week.

TV and movie rental service Netflix Inc (NFLX) reported a profit for the second quarter as revenue gained and the company’s customer base expanded. Revenue rose to $889 million in the April to June period, Netflix said on Tuesday. The company posted earnings of 11 cents per share, swinging back to a profit after a loss in the previous quarter.

The government can require airlines to show consumers a total ticket price that includes taxes and fees in print and online ads, the U.S. Court of Appeals said Tuesday, rejecting an industry challenge to a series of consumer protection regulations. The Department of Transportation, which issued the regulations last year, has the authority to regulate “unfair and deceptive” airline industry practices, the three-member panel said in its ruling.

Juniper Networks (NYSE:JNPR) said late Tuesday second-quarter profit fell 50% to $58 million, or 11 cents a share, from $116 million, or 22 cents a share, in the same 2011 period. Excluding charges, Juniper said it earned 19 cents a share.

As iPhone fans await the release of a new model, they are delaying purchases and may cause Apple Inc. (AAPL), the world’s largest company by market value, to post its slowest sales and profit growth in more than two years.






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