Markets Lower On Corporate News
Disappointing corporate news weighed the markets down during the midday with the Dow losing 11 points to 13,541. Nasdaq slipped 5 points to 3173.
On the upside
Topeka Capital analyst Brian White expects F5 Networks (Nasdaq: FFIV) to increase its market share.
Motley Fool expects Molycorp (NYSE: MCP) to benefit from the Federal Reserve's new bond purchasing program.
Shares of DARA Biosciences (Nasdaq: DARA) continued rising after receiving exclusive U. S. commercial rights to Helsinn Group's oral mucositis treatment Gelclair last week.
On the downside
Sterne Agee analyst Sam Poser affirmed his Underperform rating on Deckers Outdoor (Nasdaq: DECK) citing disappointing sales of the company's Uggs sheepskin boots.
Stifel Nicolaus downgraded MCG Capital (Nasdaq: MCGC) to a Sell rating.
HNI (NYSE: HNI) warned that third quarter earnings and revenue will fall short of expectations.
In the broad market, declining issues outpaced advancers by a margin of more than 7 to 5 on the NYSE and by more than 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks slipped a point to 857.
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