The markets pared its losses to trade above the flatline during the midday with the Dow gaining 18 points to 13,307 while Nasdaq added a point to 2664.

On the upside

Solarfun Power Holdings (Nasdaq: SOLF) beat expectations with third quarter earnings that nearly tripled as production increased to meet soaring demand.

Axcan Pharma (Nasdaq: AXCA) will be taken private in a $1.3 billion all cash deal.

Analysts upgraded Sigma Designs (Nasdaq: SIGM) after the chip maker reported sharply higher third quarter earnings.

On the downside

Men's Wearhouse (NYSE: MW) reported third quarter results that were in line with expecations while forecasting fourth quarter results below estimates prompting downgrades.

Analysts downgraded Rogers Communications (NYSE: RCI) after the Canadian government unveiled new auction rules that will increase competition.

Although Aeropostale (NYSE: ARO) reported higher earnings and revenue, sales fell short of expectations.

In the broad market, advancing issues were on par with decliners on the NYSE while decliners barely edged out advancers by a slim margin on Nasdaq. The Russell 2000 which tracks small cap stocks slipped a fraction to 770.