The markets rebounded during the midday with the
Dow gaining 55 points to 12,625 even as growth in the nation's service sector slipped in June. Nasdaq rose 8 points to 2834.
On the upside
Rumors circulated that Kinetic Concepts (NYSE: KCI) engaged in discussions to be acquired.
Fuwei Films (Nasdaq: FFHL) signed a letter of intent to supply PETG heat shrinkable label films to Coca-Cola in China.
China New Borun (NYSE: BORN) extended its contract with auditors BDO China Shu Lun Pan Certified Public Accountants.
A federal appeals court reinstated a legal challenge to union concessions made between YRC Worldwide (Nasdaq: YRCW) and the International Brotherhood of Teamsters.
Davenport & Co. downgraded Walter Energy (NYSE: WLT) to a Neutral rating.
DragonWave (Nasdaq: DRWI) announced the resignation of vice president of worldwide sales Brian McCormack.
In the broad market, advancing issues outpaced decliners by a margin of nearly 10 to 9 on the NYSE and by nearly 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks added 3 points to 844.