Markets Extend Losses At Midday

The markets extended its losses during the midday with the Dow dropping 72 points to 15,426. Nasdaq slipped 6 points to 3663.

On the upside

NPS Pharmaceuticals (Nasdaq: NPSP) fell to a loss for the second quarter but sales of Gattex soared above expectations.

Shares of Cvent (NYSE: CVT) surged in its market debut.

Geron (Nasdaq: GERN) narrowed second quarter losses.

On the downside

Merge Healthcare (Nasdaq: MRGE) widened second quarter losses more than expected as revenue fell and chief executive Jeffery A. Surges resigned.

CNBC reported that hedge fund Perry Capital will also seek to replace JC Penney (NYSE: JCP) chief executive Myron Ullman III following Bill Ackman's similar demands yesterday.

Youku Tudou (NYSE: YOKU) reported a loss for the second quarter as revenue missed expectations.

In the broad market, advancing issues outpaced advancers by a margin of 10 to 9 on the NYSE while decliners edged out advancers by nearly 5 to 4 on Nasdaq. The broader S&P 500 lost 3 points to 1694.

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