The markets recovered early morning losses but continued trading lower during the midday with the Dow falling 54 points to 12,765 as European debt concerns continued to weigh on investors. Nasdaq lost 10 points to 2923.
On the upside
Investors snapped up shares of Groupon (GRPN) ahead of its earnings release after market close.
BMC Software (BMC) adopted a shareholder rights plan to protect itself from a possible hostile takeover by Elliott Associates.
Avon Products (AVP) will evaluate the increased acquisition offer made by Coty last Thursday.
On the downside
Shares of Kemet (KEM) continued falling after reporting sharply lower fourth quarter earnings last Thursday.
Shares of NetQin Mobile (NQ) continued falling after announcing a secondary offering of 6 million American Depositary Shares last week.
Societe Generale analyst Andy Perkins downgraded Nokia (NOK) to a Sell rating.
In the broad market, declining issues outpaced advancers by a margin of more than 4 to 1 on the NYSE and by more than 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 7 points to 782.
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|10:41 AM||Lower Open As Chinese Factory Activity Drops|
|Wed, May 22, 2013|
|07:07 PM||Sharply Lower Close On Disappointing Earnings|
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|Tue, May 21, 2013|
|06:26 PM||Dow Rises To Another Record|
|01:34 PM||Markets Advance Ahead Of Bernanke Testimony|
|10:43 AM||Mixed Open Ahead Of Apple's Testimony|
|Mon, May 20, 2013|
|06:07 PM||Investors Lock In Profits|
|03:00 PM||Profit Taking Weighs Down Markets|
|10:42 AM||Mixed Open After Records Last Week|
|Fri, May 17, 2013|
|06:22 PM||Records For Fourth Consecutive Week|
|03:02 PM||Markets Rise As Consumer Sentiment Climbs|
|10:42 AM||High Open As Consumer Sentiment Climbs|
|Thu, May 16, 2013|
|06:29 PM||Economic Data Weighs Down Markets|
|02:20 PM||Markets Rise On Upbeat Earnings|
|10:42 AM||Mixed Open As Jobless Claims Rise|
|Wed, May 15, 2013|
|06:43 PM||Record Dow Close Again|
|01:23 PM||Rise In Homebuilder Confidence Lifts Markets|
|11:30 AM||Lower Open As Factory Output Drops|
|Tue, May 14, 2013|
|06:27 PM||Another Dow Record As Investor Confidence Grows|
|01:03 PM||Investor Optimism Lifts Markets|
|10:42 AM||Higher Open On Lower Import Prices|
|Mon, May 13, 2013|
|06:07 PM||Mixed Close Over Stimulus Concerns|
|01:34 PM||Markets Mixed As Retail Sales Rise|
|10:43 AM||Stimulus May End, Markets Open Lower|
|Fri, May 10, 2013|
|06:31 PM||Another Winning Week|
|02:06 PM||Mixed Markets As Investors Monitor Global Developments|
|11:33 AM||Mixed Open After Record Week|
|More News From MarketMinute.com Market Updates|