A possible interest rate increase in China weighed the markets down during the midday with the Dow losing 25 points to 11,799. Nasdaq tumbled 25 points to 2699.
On the upside
Biolase Technology (Nasdaq: BLTI) expects to post a profit for the fourth quarter.
Perrigo (Nasdaq: PRGO) will pay approximately $540 million to acquire generic drug company Paddock Laboratories.
Fourth quarter earnings rose for ITT Educational Services (NYSE: ESI) to surpass analyst expectations.
On the downside
Piper Jaffray downgraded Rackspace Hosting (NYSE: RAX) to a Neutral rating.
