The markets traded mixed during the midday with the Dow rising 27 points to 11,582 as single family home prices dropped in October. Nasdaq lost 4 points to 2662.
On the upside
Santarus (Nasdaq: SNTS) submitted a license application to the Food and Drug Administration for its acute angioedema treatment RHUCIN.
Gushan Environmental Energy (NYSE: GU) is assessing the effects of China's consumption tax.
BB&T Capital Markets upgraded KBR (Nasdaq: KBR) to a Buy rating.
On the downside
Sprint (NYSE: S) launched its 4G service in four San Francisco area cities but the stock price fell.
Shares of XOMA (Nasdaq: XOMA) continued falling after Seeking Alpha contributor Edward Stevenson questioned the biopharmaceutical's drug development yesterday.
In the broad market, declining issues outpaced advancers by a margin of nearly 10 to 9 on the NYSE and by more than 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks slipped 2 points to 790.
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