Lower Markets On Mixed Earnings

Mixed corporate earnings weighed the markets down during the midday with the Dow falling 58 points to 14,560. Nasdaq dropped 27 points to 3177.

On the upside

A Seeking Alpha contributor took a long position on Arch Coal (NYSE: ACI).

Peabody Energy (NYSE: BTU) fell to a loss for the first quarter but the results were better than expected.

The Toronto Stock Exchange accepted Eldorado Gold's (NYSE: EGO) to renew its normal course issuer bid.

On the downside

Ultratech (Nasdaq: UTEK) reported higher first quarter earnings and revenue but the results fell short of expectations.

Uni-Pixel (Nasdaq: UNXL) priced its public offering of 1.195 million common shares at the discounted price of $32 per share

Profit taking sank shares of Acura Pharmaceuticals (Nasdaq: ACUR).

In the broad market, declining issues outpaced advancers by a margin of more than 10 to 9 on the NYSE and by more than 10 to 9 on Nasdaq. The broader S&P 500 index lost 7 points to 1544.

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