June 18, 2014 at 13:58 PM EDT
Markets lower ahead of Fed's update

The markets traded lower during the midday with the Dow losing 11 points to 16,796 ahead of the Federal Reserve's policy update. Nasdaq slipped 3 points to 4,333.

On the upside

Shares of ZS Pharma (Nasdaq: ZSPH) leaped on its first trading day.

Viper Energy Partners (Nasdaq: VNOM) stock surged in its market debut.

Wunderlich initiated coverage of MeetMe (Nasdaq: MEET) with a Buy rating.

On the downside

Seeking Alpha contributor The Forensic Accountant wrote that Dominion Resources Black Warrior Trust (NYSE: DOM) was grossly overvalued with a downside potential of over 75%.

NGL Energy Partners (NYSE: NGL) priced its public offering of 8 million common units at the discounted price of $43.85 per unit.

Shares of Parnell Pharmaceuticals (Nasdaq: PARN) fell in its market debut.

In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 4 on the NYSE and by more than 4 to 3 on Nasdaq. The broader S&P 500 edged up a fraction to 1942. Bitcoin eased $3.59 or 0.60% to $601.00.

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