Caterpillar Cuts Outlook, Markets Lower
Caterpillar cut its outlook for 2015 renewing concerns about the global economic recovery. The markets traded lower during the midday with the Dow slipping 21 points to 13,537. Nasdaq lost 7 points to 3153.
On the upside
TheStreet affirmed its Buy rating on Las Vegas Sands (NYSE: LVS).
Antares Pharma (Nasdaq: ATRS) reported upbeat clinical trial results for its Actual Human Use study for VIBEX Methotrexate to treat rheumatoid arthritis.
DARA BioSciences (Nasdaq: DARA) signed agreements that provide the company with comprehensive commercial coverage across the national oncology market.
On the downside
Tesla Motors (Nasdaq: TSLA) blamed slower than expected production of its Model S sedan for cutting its revenue outlook for 2012.
Lexmark International (NYSE: LXK) will replace RadioShack (NYSE: RSH) on the S&P MidCap 400.
Gevo (Nasdaq: GEVO) will halt production of isobutanol from corn and will begin production of ethanol.
In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 4 on the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks lost 2 points to 848.
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