Markets Mixed At Midday

The markets traded mixed during the midday with the Dow rising 47 points to 12,009 while Nasdaq eased a point to 2622 even as France and Germany finalize a financial aid package for Greece.

On the upside

Harbin Electric (Nasdaq: HRBN) refuted allegations by Citron Research against chief executive Yang Tianfu saying that the accusations were intended to drive down the stock price.

BPZ Energy (NYSE: BPZ) provided gas and oil resource estimates for its offshore Block Z-1.

Youku.com (NYSE: YOKU) will grow and expand its original content programming platform.

On the downside

Shares of Standard & Poor's parent company The McGraw-Hill Companies (NYSE: MHP) fell after the Wall Street Journal reported a Securities and Exchange Commission investigation into possible fraud charges against credit ratings agencies for their role in the mortgage meltdown.

Citigroup downgraded Research in Motion (Nasdaq: RIMM) supplier Celestica (NYSE: CLS) to a Sell rating.

Cleveland BioLabs (Nasdaq: CBLI) announced a registered direct offering to raise approximately $23.5 million.

In the broad market, advancing issues outpaced decliners by a margin of nearly 3 to 2 on the NYSE while decliners edged out advancers by nearly 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks edged up a fraction to 781.
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