Mid-Day Report

Falling home prices weighed down the markets during the midday with the Dow dropping 43 points to 13,827. Nasdaq eased a point to 2818.

On the upside

Higher sales boosted third quarter earnings for Atheros Communications (Nasdaq: ATHR) to beat expectations.

China Corporate Credit Assurance will deploy Superconductor Technologies' (Nasdaq: SCON) SuperLink product in second and third generation networks in China.

Third quarter earnings for Agco (NYSE: AG) surged over robust global demand for farm equipment prompting the agricultural equipment distributor to lift its full year guidance.

On the downside

On Semiconductor (Nasdaq: ONNN) reported lower third quarter earnings that fell short of expectations and forecast disappointing fourth quarter results.

Smith & Wesson (Nasdaq: SWHC) released preliminary second quarter results that missed estimates and slashed its full year guidance.

While a tax benefit lifted third quarter earnings for Qwest Communications (NYSE: Q), revenue fell.

In the broad market, declining issues outpaced advancers by a margin of more than 7 to 5 on the NYSE and by a margin of nearly 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 3 points to 818.

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