First time applications for unemployment benefits fell last week but the markets turned negative during the midday with the Dow slipping 11 points to 16,451. Nasdaq lost 6 points to 4159.
On the upside
The Italian distributor for MagneGas (Nasdaq: MNGA) signed a development contract with the Italian National Agency for New Technologies, Energy and Sustainable Economic Development to test and validate MagneGas fuels.
Mercury Solar Systems voted in favor of merging with Real Goods Solar (Nasdaq: RSOL).
United Continental (NYSE: UAL) reported that passenger revenue per available seat mile climbed between 11.5% to 12.5% in December.
On the downside
Bed Bath & Beyond (Nasdaq: BBBY) reported higher third quarter earnings but the results fell short of analyst expectations and the company lowered its fourth quarter outlook.
Pier 1 Imports (NYSE: PIR) reported a disappointingly low 1.3% increase in December same store sales.
Profit taking weighed down shares of Qihoo 360 (NYSE: QIHU).
In the broad market, declining issues barely edged out advancers by a slim margin on both the NYSE and on Nasdaq. The broader S&P 500 eased a point to 1836. Bitcoin slipped $23.00 or 2.56% to $900.00.
