August 20, 2012 at 14:45 PM EDT
Markets Lower As Investors Monitor Greek Developments
The markets traded lower during the midday with the Dow slipping 21 points to 13,254 as investors monitored developments in Greece. Nasdaq lost 9 points to 3067.
On the upside
United Continental (NYSE: UAL) and U. S. Airways (NYSE: LCC) increased airfares after Southwest (NYSE: LUV) announced a $10 hike on flights that are less than 500 miles each way.
Rosetta Genomics (Nasdaq: ROSG) announced three additions to its management staff and expanded the capacity of its laboratory operations.
Western Alliance Bancorp (NYSE: WAL) will acquire Western Liberty Bancorp (Nasdaq: WLBC).
On the downside
Corinthian Colleges (Nasdaq: COCO) fell to a wider than expected loss for the fourth quarter and warned of slowing growth in new student enrollments. Second quarter earnings slipped Lowe's Companies (NYSE: LOW) to fall short of analyst expectations.
Shares of Mechel (NYSE: MTL) fell after Xinhua reported that Chinese steel production growth slowed amidst falling prices.
In the broad market, declining issues outpaced advancers by a margin of 5 to 3 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks lost 4 points to
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