Inflation climbed more than expected in Europe to weigh down domestic markets during the midday with the Dow easing a point to 11,668. Nasdaq lost 17 points to 2673.
On the upside
USA Technologies (Nasdaq: USAT) expects to report record revenue and profit for the second quarter.
MetroPCS Communications (NYSE: PCS) introduced new plans beginning at $40 for its 4G LTE handsets with no annual service contracts.
Advanced Micro Devices (NYSE: AMD) will introduce its next generation chips with advanced graphics capabilities at the Consumer Electronics Show.
On the downside
China Integrated Energy (Nasdaq: CBEH) announced a registered direct placement of more than 3.4 million common shares to raise approximately $24.17 million.
Annaly Capital Management (NYSE: NLY) will sell 75 million common shares at $17.20 per share to raise approximately $1.3 billion.
Goldman Sachs lowered its earnings outlook on Boston Scientific (NYSE: BSX) saying that the sale of its neurovascular unit will hurt revenue.
In the broad market, declining issues outpaced advancers by a margin of 7 to 3 on the NYSE and by nearly 3 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks plunged 15 points to 783.
