Concerns about the viability of the House Republican budget proposal weighed the markets down during the midday with the Dow easing a point to 14,445. Nasdaq lost 16 points to 3236.
On the upside
OCZ Technology (Nasdaq: OCZ) entered a $30 million loan agreement with Hercules Technology Growth Capital.
VeriFone Systems (NYSE: PAY) chief executive Douglas Bergeron resigned.
Rumors circulated that J.C. Penney (NYSE: JCP) chief executive Ron Johnson was resigning but the department store operator denied the rumors.
On the downside
Profit taking sank shares of China Auto Logistics (Nasdaq: CALI).
AVG Technologies (NYSE: AVG) hired Schweichler Price Mullarkey & Barry to recruit a new chief executive for the Internet security solutions provider.
Suntech Power (NYSE: STP) will close a solar panel manufacturing plant in Arizona.
In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 3 on both the NYSE and on Nasdaq. The broader S&P 500 index lost 3 points to 1552.