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“The reality is, this is a long-term game we’re in unless you’re a trader and these are cheaper stocks today across the board than they’ve been in a long time,” said Jerry Castellini, president and CIO CastleArk Management on CNBC’s “ Power Lunch .”
AmEx , Ebay , Qualcomm and Yum Brands are among companies slated to report earnings after-the-bell tonight.
“We still think earnings are going to be strong and that’s going to help the markets for the next two to three weeks,” said Rick Fier, director of equity trading at Conifer Securities. “But you can’t ignore the European situation and the economic news that seems to get weaker…there’s a lot more talk about people paring back.”
Berkshire Hathaway slipped after Warren Buffett announced after the market close on Tuesday that he had been diagnosed with stage one prostate cancer. Buffett told CNBC nothing had changed in the company's succession plans .
Apple ended lower even after Goldman Sachs and Atlantic Equities raised their price target on the iPad maker.
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