The markets traded above the flatline during the midday with the Dow gaining 11 points to 11,034 over modest inflation. Nasdaq climbed 13 points to 2483.
On the upside
J.P. Morgan upgraded American Axle (NYSE: AXL) and lifted its price target to $14 after the auto parts maker announced a backlog of $850 million in future annual sales.
Second quarter earnings rose for China Medical Technologies (Nasdaq: CMED) as revenue climbed.
Zanett (Nasdaq: ZANE) reversed year ago losses to post a third quarter profit on higher revenue.
On the downside
Credit Suisses analyst Satya Kumar downgraded GT Solar (Nasdaq: SOLR) citing increasing supply amidst flat demand.
RINO International (Nasdaq: RINO) cancelled its third quarter earnings conference call.
Moody's Investors Service cut the credit rating of Regions Financial (Nasdaq: RF) again this month citing the departure of three executives in the banks risk management business.
In the broad market, advancing issues outpaced decliners by a margin of nearly 2 to 1 on the NYSE and by nearly 5 to 4 on Nasdaq. The Russell 2000 which tracks small cap stocks rose 2 points to 708.
