The markets traded mixed during the midday with the Dow losing 24 points 12,605 as initial applications for unemployment benefits dropped less than expected last week. Nasdaq added 2 points to 2847.
On the upside
Shares of Discovery Laboratories (Nasdaq: DSCO) continued climbing after reporting a smaller first quarter loss yesterday.
Bargain hunters snapped up shares of MBIA (NYSE: MBI). The mortgage insurer disappointed with wider first quarter losses earlier this week.
Tyson Foods (NYSE: TSN) announced plans to repurchase up to 22.5 million common shares.
On the downside
STEC (Nasdaq: STEC) shares fell for a second day after the company forecast disappointing second quarter results.
Falling gold prices weighed down shares of Jaguar Mining (NYSE: JAG).
Rochdale Securities analyst Dick Bove downgraded Goldman Sachs (NYSE: GS) to a Sell rating saying that the Department of Justice will likely file a criminal charges against the brokerage firm.
In the broad market, declining issues outpaced advancers by a margin of 10 to 9 on the NYSE while advancers edged out decliners by nearly 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks added 3 points to 844.
