Midday Report: Ford, GM Disappoints in July; U.S. Stocks Slide

U.S. stocks extended losses as auto sales in July disappointed, a rare miss after months of blowout growth. Pfizer  (PFE) - Get Report also weighed heavily on the Dow Jones Industrial Average after sales of its biggest vaccine fell short of estimates in its recent quarter. Ford (F) - Get Report reported a surprise three percent drop in July sales as the carmaker's most popular F-series declined. GM (GM) - Get Report also reported a decline in sales, though at a far slower pace than many expected. Fiat Chrysler (FCAU) - Get Report reported anemic sales growth of just 0.3 percent. SodaStream (SODA) - Get Report surged after topping analysts' forecasts on its top and bottom line over the second quarter. Adjusted earnings came in more than seven times higher than a year earlier. CVS (CVS) - Get Report rose after upping its adjusted earnings forecast for the full year. Second-quarter results missed estimates, though, as the pharmacy chain worked to pay down debt. TheStreet