Markets Flat On Wider Trade Deficit
The markets traded flat during the midday with the Dow rising 10 points to 13,481 as the nation's trade deficit unexpectedly widened. Nasdaq added 2 points to 3124.
On the upside
Rsearch in Motion (Nasdaq: RIMM) will introduce six new BlackBerry 10 devices in 2013.
Shares of Nokia (NYSE: NOK) continued rising after reporting stronger than expected Lumia sales.
Unwired Planet (Nasdaq: UPIP) will acquire 2,185 patents from Ericsson (NYSE: ERIC) prompting an analyst upgrade.
On the downside
Profit taking sank shares of NewLead Holdings (Nasdaq: NEWL). Bazaarvoice (Nasdaq: BV) will fight the Justice Department's antitrust suit that was filed yesterday but the stock price continued falling.
Piper Jaffray downgraded Aeropostale (NYSE: ARO) to a Neutral rating while Imperial Capital cut its price target on the retailer from $18 to $15.
In the broad market, declining issues outpaced advancers by a margin of 5 to 4 on the NYSE and by more than 10 to 9 on Nasdaq. The broader S&P 500 index eased a point to 1471.
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