The markets traded mixed during the midday with the Dow slipping 28 points to 16,323 as investors monitored global economic developments. Nasdaq rose 8 points to 4316.
On the upside
Shares of Plug Power (Nasdaq: PLUG) rose ahead of its earnings release tomorrow.
VeriFone Systems (NYSE: PAY) fell to a loss for the first quarter but the results were better than expected.
Goldman Sachs upgraded Infinera (Nasdaq: INFN) from a Neutral rating to a Buy rating.
On the downside
Purdue Pharma announced that it will submit an abuse-resistant version of hydrocodone to the Food and Drug Administration for approval later this year sending shares of Zogenix (Nasdaq: ZGNX), which just introduced Zohydro, tumbling.
Express (NYSE: EXPR) reported lower fourth quarter earnings that fell short of analyst expectations and forecast current quarter earnings well below estimates.
Tullow Oil declared force majeure on an offshore Guinea project that is being developed in partnership with Hyperdynamics (NYSE: HDY).
In the broad market, advancing issues outpaced decliners by a margin of nearly 10 to 9 on the NYSE while decliners barely edged out advancers by a slim margin on Nasdaq. The broader S&P 500 slipped 2 points to 1865. Bitcoin added $5.29 or 0.84% to $636.04.
