Markets Flat At Midday

The markets traded flat during the midday with the Dow edging up a point to 15,420 while Nasdaq held steady at 3669.

On the upside

BlackBerry (Nasdaq: BBRY) introduced its new BlackBerry 9720 with an updated BlackBerry 7OS and available in a variety of vibrant colors.

Second quarter earnings slipped for NQ Mobile (NYSE: NQ) but the results were better than expected as revenue more than doubled, the company forecast current quarter revenue ahead of estimates and lifted its full year guidance.

Sohu.com reported that Baidu (Nasdaq: BIDU) may buy Renren's (NYSE: RENN) Nuomi unit.


On the downside


The Justice Department filed an antitrust lawsuit against the proposed merger between US Airways Group (NYSE: LCC) and American Airlines parent AMR.


InterOil (NYSE: IOC) narrowed losses for the second quarter but the results missed analyst expectations.


Valspar (NYSE: VAL) reported higher third quarter earnings but the results fell short of expectations and the company lowered its full year earnings outlook.

In the broad market, declining issues outpaced advancers by a margin of nearly 2 to 1 on the NYSE and by more than 7 to 5 on Nasdaq. The broader S&P 500 held steady at 1689.

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