Losses extended on unexpected drop in durable goods orders

The markets continued to drop during the midday with the Dow slumping 216 points to 17,794 as durable goods orders unexpectedly fell. Nasdaq plummeted 88 points to 4,906.

On the upside

The U.S. Consumer Product Safety Commission will investigate the formaldehyde levels in laminates that are made in China that Lumber Liquidators Holdings (NYSE: LL) uses in its flooring products.

Shares of On Track Innovations (Nasdaq: OTIV) rose ahead of its earnings release after market close.

Stamps.com (Nasdaq: STMP) will pay approximately $215 million in cash to acquire Newell Rubbermaid's wholly owned shipping operations subsidiary Endicia.

On the downside

Yingli Green Energy (NYSE: YGE) reported a wider than expected loss for the fourth quarter.

Shares of Esperion Therapeutics (Nasdaq: ESPR) extended its losses.

Novavax (Nasdaq: NVAX) will offer $175 million of its common stock through a public offering.

In the broad market, declining issues outpaced advancers by a margin of more than 2 to 1 on the NYSE and by more than 7 to 2 on Nasdaq. The broader S&P 500 tumbled 19 points to 2072. Bitcoin slipped $3 to $244.
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