Markets Flat At Midday

The markets traded flat during the midday with the Dow losing 11 points to 15,306 ahead the Federal Reserve's policy statement. Nasdaq slipped 4 points to 3477.

On the upside

A Seeking Alpha contributor expects MannKind (Nasdaq: MNKD) to complete studies for Afrezza and market the inhalable insulin product on schedule.

FedEx (NYSE: FDX) reported lower fourth quarter earnings but the results were better than expected.

Shares of Bluebird bio (Nasdaq: BLUE) surged in its market debut.

On the downside

Tetra Tech (Nasdaq: TTEK) warned of losses for the third quarter due to restructuring charges.

Biodel (Nasdaq: BIOD) priced its public offering of more than 4.48 million common shares at the discounted price of $4.35 per share.

Dish Network dropped out of the bidding war for Sprint Nextel (NYSE: S).

In the broad market, declining issues outpaced advancers by a margin of nearly 3 to 2 on the NYSE and by 9 to 7 on Nasdaq. The broader S&P 500 index slipped 2 points to 1649.

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