The markets traded mixed during the midday with the Dow slipping 13 points while Nasdaq rose 7 points to 2650 on a shortened trading week.
On the upside
Chelsea Therapeutics International (Nasdaq: CHTP) will accelerate the new drug application process for its chronic low blood pressure treatment Northera.
Icagen (Nasdaq: ICGN) began a Phase I clinical trial of its pain treatment Nav1.7 in collaboration with Pfizer (NYSE: PFE).
Chesapeake Energy (NYSE: CHK) announced that activist investor Carl Icahn own's 5.8% of the company's stock.
On the downside
Magic Software (Nasdaq: MGIC) announced a private placement with institutional investors to raise approximately $21.2 million.
Stifel Nicolaus downgraded (NYSE: AXP) American Express saying that proposed debit card transaction fee cuts will hurt revenue.
R. W. Baird analyst David Loeb downgraded Sunstone Hotels (NYSE: SHO).
In the broad market, advancing issues outpaced decliners by a slim margin on the NYSE and by nearly 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks added 2 points to 782.
