Whole Foods Slumps as Growth Slows; Stocks Recover From Lows

The biggest market moves were earnings-driven on Thursday.
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The biggest market moves were earnings-driven on Thursday. Whole Foods Market (WFM) slumped to its lowest trading level since early 2012. Shares were lower on signs its dominance of the organic food market was waning as sales growth slowed. Stocks had recovered from the worst of the session by the afternoon. Still, markets remained lower after second-quarter GDP strength underscored the likelihood of a 2015 rate hike. Colgate-Palmolive (CL) was victim to a stronger U.S. dollar in its second quarter, reporting a 6.5% drop in revenue. Stripping away the effects of currency, organic sales climbed nearly 6%. Western Digital (WDC) led the S&P 500 after beating quarterly earnings estimates even in the face of a continued slump in demand for PCs.