Market Update

Shares of Fastenal Co

fell about 1.8% after the company reported its Q2 profit at $94.1 million, or $0.32 per share, up from $69.2 million, or $0.23 per share, in the year-ago period. The company's revenue surged to $701.7 million, from $571.2 million. Shares of ReneSola Ltd

dropped about 6% after the company lowered its second-quarter revenue projections. ReneSola now expects revenue to be in the range of $235 million to $245 million, down from its previous forecast of $280 million to $300 million. It projects total solar wafer and module shipment to be in the range of 290 megawatts to 300 megawatts, versus its earlier forecast of 330 megawatts to 350 megawatts. Shares of Cummins Inc

gained about 1.8% after the company raised its quarterly dividend by 52% to $0.40 per share, from 26.25 per share.