The markets extended its losses during the midday with the Dow dropping 78 points to 12,520 despite a drop in mortgage rates as investors monitored political developments in Greece. Nasdaq tumbled 31 points to 2842.
On the upside
Ctrip.com International (Nasdaq: CTRP) reported lower first quarter earnings but revenue rose to top analyst estimates.
Sears Holdings (Nasdaq: SHLD) swung to a first quarter profit and announced plans to spin off Sears Canada.
On the downside
The Securities and Exchange Commission has opened an investigation into Dendreon (Nasdaq: DNDN).
GT Advanced Technologies (Nasdaq: GTAT) reported higher fourth quarter earnings and revenue but the results fell short of expectations.
E-Commerce China Dangdang (NYSE: DANG) fell to a loss for the first quarter and forecast second quarter revenue below analyst estimates.
In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 1 on the NYSE and by 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks fell 9 points to 762.