Weak Manufacturing Weighs Down Markets

The nation's March manufacturing activity expanded less than expected to weigh the markets down during the midday with the Dow losing 28 points to 14,586. Nasdaq dropped 29 points to 3237.

On the upside

The Food and Drug Administration outlined a pathway for BioCryst Pharmaceuticals (Nasdaq: BCRX) to seek regulatory approval of its intravenous flu treatment peramivir.

A Seeking Alpha contributor established a bullish position on Blackberry (Nasdaq: BBRY) for the short and medium term.

Companhia Siderurgica Nacional (NYSE: SID) expects a 7% increase in steel sales in 2013.

On the downside

Glu Mobile (Nasdaq: GLUU) director Matthew A. Drapkin sold 250,000 shares of company stock.

Walter Energy (NYSE: WLT) announced last week that it would curtail production at its Willow Creek mine.

C&J Energy Services (NYSE: CJES) warned that hydraulic fracturing activity missed expectations in the first quarter.

In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 2 on the NYSE and by more than 3 to 1 on Nasdaq. The broader S&P 500 index fell 8 points to 1560.

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