The markets extended its losses during the midday with the Dow dropping 76 points to 13,507 in anticipation of the beginning of third quarter earnings season after market close. Nasdaq tumbled 40 points to 3071. On the upside
BSD Medical (Nasdaq: BSDM) reported an impressive 391% surge in September sales of its MicroThermX Microwave Ablation System. Spectrum Brands (NYSE: SPB) will pay approximately $1.4 billon in cash to acquire Stanley Black & Decker's hardware and home improvement business. Goldman Sachs upgraded Eli Lilly (NYSE: LLY) from a Sell rating to Neutral. On the downside Bank of America/Merrill Lynch analyst Nat Schindler downgraded Netflix (Nasdaq: NFLX) to an Underperform rating. Credit Suisse analyst Wallace Cheung downgraded Baidu (Nasdaq: BIDU) to an Underperform rating. Forbes reported that Verifone (NYSE: PAY) rival Square was close to finalizing a deal to introduce Square's payment system in New York taxi cabs. In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 2 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks tumbled 8 points to 829.