The markets trimmed its losses to trade near the flatline during the midday with the Dow losing 5 points to 13,310. Nasdaq slipped 4 points to 2633.
On the upside
While CMGI (Nasdaq: CMGI) posted lower first quarter earnings due to the discontinuation of two client programs, the results were nearly double analyst expectations.
Good Energies will increase its stake in Solarfun Power Holdings (Nasdaq: SOLF) from 6.3% to 34.7% with the purchase of 66.7 million ordinary shares and 281,011 American Depositary Shares.
Three Nordstrom (NYSE: JWN) executives recently purchased large shares of the department store.
On the downside
A group of SunOpta (Nasdaq: STKL) shareholders will sell their stake in the company, which is approximately 5.1 million shares.
Although Phillips-Van Heusen (NYSE: PVH) reported higher third quarter earnings that surpassed expectations, the apparel maker forecast fourth quarter as well as fiscal 2008 results below estimates.
R. H. Dennelley (NYSE: RHD) reaffirmed its 2007 outlook, forecast 2008 results above estimates and announced a $100 million stock buy back plan.
In the broad market, declining issues outpaced advaners by a margin of nearly 5 to 3 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks fell 4 points to 756.
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