The markets traded near the flatline during the midday with the Dow adding 4 points to 11,118 as the nation's economy expanded at a modest 2% pace last quarter. Nasdaq eased a fraction to 2507.
On the upside
The Department of Justice will take no action against Reddy Ice Holdings (NYSE: FRZ) or any of its employees as part of the Antitrust Division's investigation of the packaged ice industry.
TeleNav (Nasdaq: TNAV) reported higher first quarter earnings that beat analyst expectations and forecast second quarter results ahead of analyst estimates.
Shares of Hong Kong vegetable producer Le Gaga (Nasdaq: GAGA) climbed on its first day of trading.
On the downside
Conexant (Nasdaq: CNXT) reversed year ago losses to post a profit for the fourth quarter but the company warned of losses for the first quarter.
Third quarter earnings for American Axle & Manufacturing (NYSE: AXL) nearly doubled to surpass analyst expectations by a wide margin but the forecast fourth quarter revenue below estimates.
While Synovus Financial (NYSE: SNV) narrowed third quarter losses, the company still fell short of expectations.
In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 3 on the NYSE and by nearly 5 to 4 on Nasdaq. The Russell 2000 which tracks small cap stocks rose 2 points to 703.
