Despite a drop in first time applications for unemployment benefits, the markets turned negative during the midday with the Dow tumbling 96 points to 14,863 over continued concerns that the Federal Reserve would soon end the bond buying program that has sustained the struggling economy. Nasdaq fell 19 points to 3382.
On the upside
WordPay deployed VMware (NYSE: VMW) network virtualization to support the user self provisioning requirements of application developers.
Media General (NYSE: MEG) will merge with New Young Broadcasting Holding in an all stock transaction.
Baker Bros. acquired a 22.6% stake in ACADIA Pharmaceuticals (Nasdaq: ACAD).
On the downside
Shares of Synta Pharmaceuticals (Nasdaq: SNTA) continued falling after reporting disappointing results for its lung cancer treatment ganetespib on Monday.
Ascena Retail Group (Nasdaq: ASNA) reported lower third quarter earnings that missed expectations even as revenue soared prompting the apparel retailer to cut its full year earnings guidance.
Giant Interactive (NYSE: GA) chairman priced his secondary offering of 11 million American Depositary Shares at the discounted price of $7.25 per ADS.
In the broad market, advancing issues outpaced decliners by a margin of 10 to 9 on the NYSE and by nearly 10 to 9 on Nasdaq. The broader S&P 500 index fell 8 points to 1600.
