Afternoon Market Update (CAL, GOL, UAUA, LUV, SKYW, RYAAY, PFE)

US Airline stocks moved down with Continental Airlines CAL and Gol Linhas GOL as the top losers in the list. The other stocks that are also on the downtrend today are United parent UAL Corp UAUA, Southwest LUV and SkyWest SKYW. Ryanair Holdings RYAAY, however, has gained about 1%. The NYSE Arca Airline Index (XAL) lost more than 1.5%. Pfizer Inc PFE was the top large-cap gainer in the pharmaceutical sector as the company reported better-than-expected Q2 results. PFE’s shares gained more than 4.5%. The NYSE Arca Pharmaceutical Index (DRG) moved up about 1.3%. Porsche Cars North America Inc has announced its best single-month sales in two years for the month of July. Porsche has reported a 75% jump in its US sales to 2,703 vehicles for the month, from 1,544 in the year-ago period. Read more from Benzinga's Markets.