The markets traded mixed during the midday with the Dow climbing 97 points to 16,498 after Federal Reserve Chair Janet Yellen said that while the nation's economy was strengthening, the job market remained weak. Nasdaq dropped 42 points to 4,038.
On the upside
Caesars Entertainment (Nasdaq: CZR) will sell a 5% stake in its Caesars Entertainment Operating Co. unit.
Shares of Forest Oil (NYSE: FST) continued rising.
Mondelez International (Nasdaq: MDLZ) will combine its coffee business with D.E Master Blenders 1753 to form the world's largest pure play coffee company.
On the downside
AOL (NYSE: AOL) blamed restructuring and impairment charges for first quarter earnings that plunged to fall far short of analyst expectations.
Aegerion Pharmaceuticals (Nasdaq: AEGR) reported a greater than expected loss for the first quarter and lowered its full year revenue outlook.
Oclaro (Nasdaq: OCLR) fell to a larger than expected loss for the third quarter and forecast current quarter results below estimates.
In the broad market, advancing issues outpaced decliners by a margin of nearly 3 to 2 on the NYSE while decliners edged out advancers by nearly 5 to 3 on Nasdaq. The broader S&P 500 rose 4 points to 1871. Bitcoin rose $14.84 or 3.37% to $440.93.
