Markets slip as investors pause

The markets drifted lower during the midday with the Dow slipping 11 points to 16,931 as investors took a breather. Nasdaq lost 7 points to 4,328.

On the upside

Endeavour International (NYSE: END) lifted its second quarter production outlook.

Scientific Games (Nasdaq: SGMS) named Gavin Isaacs to the position of chief executive officer.

Canaccord initiated coverage of Applied Micro Circuits (Nasdaq: AMCC) with a Buy rating.

On the downside

Basic Energy Services (NYSE: BAS) announced a secondary offering of 6 million common shares.

Investors locked in profits on Magnum Hunter Resources (NYSE: MHR).

The slowing real estate market in China weighed down shares of SouFun (NYSE: SFUN).

In the broad market, declining issues outpaced advancers by a margin of nearly 2 to 1 on the NYSE and by more than 5 to 3 on Nasdaq. The broader S&P 500 slipped 3 points to 1948. Bitcoin added $6.01 or 0.92% to $651.66.

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