Mixed corporate earnings weighed the markets down during the midday with the Dow falling 58 points to 14,560. Nasdaq dropped 27 points to 3177.
On the upside
A Seeking Alpha contributor took a long position on Arch Coal (NYSE: ACI).
Peabody Energy (NYSE: BTU) fell to a loss for the first quarter but the results were better than expected.
The Toronto Stock Exchange accepted Eldorado Gold's (NYSE: EGO) to renew its normal course issuer bid.
On the downside
Ultratech (Nasdaq: UTEK) reported higher first quarter earnings and revenue but the results fell short of expectations.
Uni-Pixel (Nasdaq: UNXL) priced its public offering of 1.195 million common shares at the discounted price of $32 per share
Profit taking sank shares of Acura Pharmaceuticals (Nasdaq: ACUR).
In the broad market, declining issues outpaced advancers by a margin of more than 10 to 9 on the NYSE and by more than 10 to 9 on Nasdaq. The broader S&P 500 index lost 7 points to 1544.
