Concerns that an international currency war may hinder the global economic recovery weighed down the markets during the midday with the Dow falling 52 points to 10,915. Nasdaq lost 8 points to 2372.
On the upside
September same store sales unexpectedly rose for American Eagle Outfitters (NYSE: AEO) prompting the apparel retailer to lift its third quarter outlook.
Wunderlich Securities analyst Theodore O'Neill upgraded MEMC Electronic Materials (NYSE: WFR) and lifted his price target on the semiconductor saying that more solar farms will be built.
An article in DealReporter said that BMC Software (Nasdaq: BMC) may be exploring the possible sale of the company.
On the downside
PepsiCo (NYSE: PEP) reported higher third quarter earnings but lowered the top end of its full year guidance due to currency exchange rates.
First quarter same store sales fell 4.7% for Bebe Stores (Nasdaq: BEBE).
An arbitration panel decided that some of Affymax's (Nasdaq: AFFY) patents for its anemia treatment Hematide are co-owned by Johnson & Johnson (NYSE: JNJ) with some disputed patents and patent applications are solely owned by Johnson & Johnson.
In the broad market, declining issues outpaced advancers by a margin of more than 2 to 1 on the NYSE and by nearly 2 to 1 on Nasdaq.
