Weak economic growth weighed down the markets during the midday with the Dow falling 41 points to 12,439. Nasdaq lost 7 points to 2350.
On the upside
Although fourth quarter earnings dropped for CyberSource (Nasdaq: CYBS), the results beat expectations.
As part of its new advertising efforts, E-Trade Financial (Nasdaq: ETFC) will run two 30-second ads during the Super Bowl.
Strong sales lifted fourth quarter earnings for Tupperware (NYSE: TUP) to surpass expectations.
On the downside
Analysts downgraded Hutchinson Technology (Nasdaq: HTCH) after the company reported a sharp drop in first quarter earnings due to lower sales.
Although Align Technology (Nasdaq: ALGN) swung to a profit for the fourth quarter, the results fell a penny shy of estimates.
Centex (NYSE: CTX) widened third quarter losses prompting a downgrade.
In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 4 on the NYSE while advancers barely edged out decliners by a slim margin on Nasdaq. The Russell 2000 which tracks small cap stocks slipped 2 points to 703.