Homes Sales Soar, Markets Mixed

The markets traded mixed during the midday with the Dow slipping 4 points to 15,330 as new home sales soared 7.9% last month. Nasdaq rose 10 points to 3778.

On the upside

Pacific Biosciences of California (Nasdaq: PACB) will develop DNA sequencing systems and diagnostic products for Roche.

Shares of Foundation Medicine (Nasdaq: FMI) surged in its market debut.

Ophthotech (Nasdaq: OPHT) stock soared on its first trading day.

On the downside

Copart (Nasdaq: CPRT) disappointed with lower fourth quarter earnings that fell short of analyst expectations.

Baxter International (NYSE: BAX) recalled two lots of Dual Luer Lock Caps.

Stifel Nicolaus downgraded TIM Participacoes (NYSE: TSU) from a Buy rating to a Hold rating.

In the broad market, advancing issues outpaced decliners by a margin of 3 to 2 on the NYSE and by more than 5 to 3 on Nasdaq. The broader S&P 500 added 2 points to 1699.

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