Markets Slip Over European Debt Crisis

The markets slipped into negative territory during the midday with the Dow losing 6 points to 12,499 over the possibility of an expanding debt crisis in Europe. Nasdaq fell 10 points to 2791.

On the upside

Roth Capital Research initiated coverage of Clean Diesel Technologies (Nasdaq: CDTI) with a Buy rating.

Roth Capital Partners named RXi (Nasdaq: RXII) to its list of six top biotechnology stocks for the second half of 2011.

Standard & Poor's will replace SRA International (NYSE: SRX) with General Cable (NYSE: BGC) on its MidCap 400 Index after market close on July 15, 2011.

On the downside

Shares of GT Solar (Nasdaq: SOLR) continued falling after research firm Solarbuzz reported yesterday that spending on solar equipment will plunge 47% in 2012.

Novellus (Nasdaq: NVLS) reported higher second quarter earnings but revenue fell short of analyst expectations and the company lowered its third quarter forecast.

The chair of Trina Solar's (NYSE: TSL) audit committee, Peter Mak, resigned yesterday.

In the broad market, advancing issues outpaced decliners by a margin of nearly 10 to 9 on the NYSE and by nearly 5 to 4 on Nasdaq. The Russell 2000 which tracks small cap stocks added a point to 834.