Markets Lower Over Concerns About Chinese Economy

The markets traded lower during the midday with the Dow slipping 14 points to 14,075 over global economic concerns. Nasdaq held steady at 3169.

On the upside

Genting Group will pay $350 million in cash to acquire Boyd Gaming's (NYSE: BYD) Echelon site on the Las Vegas Strip.


Keefe Bruyette & Woods analyst Bose George upgraded Radian Group (NYSE: RDN) to an Outperform rating.


Shares of Pengrowth Energy (NYSE: PGH) continued rising after reporting sharply higher year end proved plus probable reserves last week.


On the downside


Profit taking sank shares of Palo Alto Networks (NYSE: PANW).


The New York Stock Exchange notified GMX Resources (NYSE: GMXR) that it failed to comply with the minimum $50 million market capitalization for 30 consecutive trading days listing requirement.


Investors locked in profits on Xinyuan Real Estate (NYSE: XIN) whose stock price climbed last week after reporting higher fourth quarter earnings and revenue.

In the broad market, declining issues outpaced advancers by a margin of more than 9 to 7 on the NYSE and by nearly 10 to 9 on Nasdaq. The broader S&P 500 index held steady at 1518.

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