Greek bankrupcty concerns weigh down stocks

Concerns that Greece only has enough cash to operate for less than a month before it must declare bankruptcy weighed the markets down during the midday with the Dow losing 56 points to 18,059. Nasdaq slipped 2 points to 5,008.

On the upside

The Food and Drug Administration approved Abiomed's (Nasdaq: ABMD) Impella 2.5 heart pump.

The Justice Department declined to intervene in a qui tam action against MiMedx Group (Nasdaq: MDXG).

Barron's wrote last week that OvaScience (Nasdaq: OVAS) had the potential to double.

On the downside

Whiting Petroleum (NYSE: WLL) priced its public offering of 35 million common shares at the discounted price of $30 per share.

The U.S. government is developing a vaccine for the avian flu but has no plans to distribute the vaccine sending shares of Pilgrim's Pride (Nasdaq: PPC) lower.

First quarter earnings and revenue rose for IHS (NYSE: IHS) but the results fell short of analyst expectations prompting the company to lower its full year earnings guidance.

In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 4 on the NYSE and while advancers edged out declines by nearly 10 to 9 on Nasdaq. The broader S&P 500 lost 6 points to 2098. Bitcoin fell $19 to $246.