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Stocks drift lower as Wall St. banks sound the alarm

Stocks (^DJI, ^GSPC, ^IXIC) drifting a bit lower as the slow summer on Wall Street rolls on. But don’t get complacent – big banks are sounding the alarm. Catch The Final Round at 4 p.m. with Jen Rogers and Yahoo Finance editor-in-chief Andy Serwer. Plus – HP with earnings after the bell, we’ll have the report – live. And – Snap shares coming back to life after being left for dead by Wall Street pros. Why the smart money is missing this trade. Plus – Samsung’s back with a shiny new big phablet. Can the Korean giant’s latest offering make everyone forget about the Note 7 disaster?

Winners and losers

Stocks getting hit today include WPP as the world’s largest marketing group cut its full-year forecast, Intuit as the Turbo-Tax maker’s guidance missed the mark, and revealed its CFO will step down, and CSX – shares grinding lower as the rail operator was highlighted in the Journal as suffering from increased congestion, delays, and poor service.

Stocks moving higher today include Paratek Pharmaceuticals on a Bloomberg report the company is exploring strategic options; Express as the apparel-maker reported a surprise profit beat and online sales that jumped 28%, and Fiat Chrysler, with shares up again today on reports the automaker will spin off its Maserati, Alfa Romeo, and parts operations units.