Mid-Day Report
The markets continued to trade in negative territory as crude oil prices spiked. The Dow lost 18 points to 13,657 while Nasdaq tumbled 24 points to 2751.


On the upside

Akamai (Nasdaq: AKAM) reported higher third quarter earnings and lifted its full year guidance.

Suntech Power Holdings (NYSE: STP) signed a seven year fixed price contract to purchase $1.5 billion worth of polysilicon at price low enough to produce solar power that is competitive with grid power.

Third quarter earnings for EMC (NYSE: EMC) rose sharply prompting Bear Stearns to lift its price target on the stock.

On the downside

Analysts downgraded Align Technology (Nasdaq: ALGN) despite strong third quarter earnings after the company forecast fourth quarter results below expectations.

NII Holdings (Nasdaq: NIHD) posted higher revenues and profits but subscriber additions fell short of expectations.

The Federal Bureau of Investigation, the Department of Health and Human Services and the Floriday Attorney General's Medicare fraud division raided the headquarters of WellCare Health Plans (NYSE: WCG) No details were released regarding the nature of the investigation.

In the broad market, declining issues outpaced advancers by a margin of 7 to 5 on the NYSE and by nearly 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 7 points to 804.

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