Rising oil prices weighed down the markets during the midday with the Dow dropping 43 points to 13,190. Nasdaq held steady at 2596.
On the upside
Shares of Orion Energy Systems (Nasdaq: OESX) surged in its market debut.
Pacific Ethanol (Nasdaq: PEIX) named Joseph Hansen to replace John Miller as chief financial officer.
On the downside
Force Protection (Nasdaq: FRPT) was downgraded after the company received a smaller than expected contract from the Defense Department.
ADC Telecommunications (Nasdaq: ADCT) will offer $400 million in convertible subordinated notes.
Darden Restaurants (NYSE: DRI) reported lower second quarter earnings and forecast 2008 results below estimates prompting a downgrade.
In the broad market, declining issues outpaced advancers by a margin of 5 to 4 on the NYSE and by nearly the same on Nasdaq. The Russell 2000 which tracks small cap stocks slipped a fraction to 754.