The markets turned negative during the midday with the Dow falling 52 points to 12,065 as European debt concerns continued to weigh on investors. Nasdaq lost 9 points to 2738.
On the upside
Chesapeake Energy (NYSE: CHK) will replace four of its board members.
On the downside
Shares of Hovnanian Enterprises (NYSE: HOV) continued falling following a disappointing pending home sales report last week.
A Seeking Alpha contributor recommended shorting Frontline (NYSE: FRO).
In the broad market, declining issues outpaced advancers by a margin of more than 5 to 2 on the NYSE and by 3 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 5 points to 731.