A greater than expected drop in factory orders weighed the markets down during the midday with the Dow slipping 34 points to 10,640. Nasdaq lost 11 points to 2283.
On the upside
Nova Measuring Instruments (Nasdaq: NVMI) reversed year ago losses to post a profit for the second quarter as revenue more than doubled prompting the company to lift its full year guidance.
Second quarter earnings for Herbalife (NYSE: HLF) surged to beat expectations. The company raised its guidance for the year and announced a 5 cent per share increase to its quarterly dividend to 25 cents per share.
First Industrial Realty Trust (NYSE: FR) widened second quarter losses but the stock price rose.
On the downside
Although Dow Chemical (NYSE: DOW) swung to a profit for the second quarter, the results missed estimates.
Second quarter earnings for Atlas Air Worldwide (Nasdaq: AAWW) nearly tripled but warned of weakening demand in the second half of the year.
OfficeMax (NYSE: OMX) swung to a better than expected profit for the second quarter but said that sales will slip in the current quarter and the full year.
In the broad market, declining issues outpaced advancers by a margin of more than 5 to 4 on the NYSE and by 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a point to 660.
