The markets traded mixed during the midday as credit concerns tempered reports of upbeat holiday sales. The Dow rose 23 points to 13,003 while Nasdaq slipped 2 points to 2595.
On the upside
Fuwei Films (Nasdaq: FFHL) elected three new directors to its board.
SkillSoft (Nasdaq: SKIL) reported third quarter earnings that surpassed expectations as revenue rose.
Excel Maritime Carriers' (NYSE: EXM) CEO will join the chief executives of two other drybulk shipping firms to discuss industry trends.
On the downsideIn order to protect itself from further mortgage defaults, Franklin Bank (Nasdaq: FBTX) will increase its loan loss reserves by another $20 million.
Friedman Billings Ramsey downgraded First Marblehead (NYSE: FMD) over concerns that The Education Resources Institute's ability to cover student loan losses is limited.
Medivation (Nasdaq: MDVN) reported a loss for the third quarter.
In the broad market, declining issues outpaced advancers by a margin of nearly 9 to 7 on the NYSE and by more than 8 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 4 points to 751.