The markets traded lower during the midday with the Dow dropping 84 points to 11,959 as private employers added jobs in October while the government eliminated positions. Nasdaq fell 10 points to 2687.
On the upside
Shares of Groupon (Nasdaq: GRPN) surged on its first trading day.
Third quarter earnings fell for Genworth Financial (NYSE: GNW) but the results topped analyst estimates.
Suntech Power (NYSE: STP) denied reports that it was considering selling itself to LG Electronics.
On the downside
Central European Distribution (Nasdaq: CEDC) disappointed with lower third quarter earnings that fell far short of analyst expectations and cut its full year outlook.
Chesapeake Energy (NYSE: CHK) reported sharply higher third quarter earnings and revenue that beat analyst expectations but the company must sell part of its holdings in the Utica Shale in order to raise funds for its drilling programs.
Third quarter earnings rose for MasTec (NYSE: MTZ) but the company forecast fourth quarter results well below expectations.
In the broad market, declining issues outpaced advancers by a margin of 3 to 2 on the NYSE and by more than 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 4 points to 747.