Mixed Markets At Midday

The markets continued to trade mixed during the midday with the Dow losing 17 points to 15,776 as investors await Congressional testimony by new Federal Reserve chair Janet Yellen. Nasdaq gained 13 points to 4139.

On the upside

A Seeking Alpha contributor noted that You On Demand (Nasdaq: YOD) was granted an exclusive license to provide national Pay-per-view and Video-on-demand service in China.

Bargain hunters lifted shares of InterMune (Nasdaq: ITMN).

GT Advanced Technologies (Nasdaq: GTAT) extended its gains.

On the downside

Forbes listed Prana Biotechnology (Nasdaq: PRAN) as one of the worst performing biotechnology stocks of last week.

Changyou.com (Nasdaq: CYOU) reported sharply lower fourth quarter earnings, forecast current quarter results below expectations and announced the departure of chief financial officer Alex Ho.

Bank of America/Merrill Lynch downgraded ArcelorMittal (NYSE: MT) from a Buy rating to a Neutral rating.

In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 4 on the NYSE and by more than 10 to 9 on Nasdaq. The broader S&P 500 held steady at 1796. Bitcoin lost $56.60 or 9.46% to $598.50.

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