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Markets Mixed As Jobless Claims Rise While Mortgage Rates Fall

The markets traded mixed during the midday with the Dow adding 5 points to 12,425 as investors weighed rising jobless claims against falling mortgage rates. Nasdaq fell 12 points to 2824.

On the upside

MicroVision (Nasdaq: MVIS) will supply Pioneer with $4 million worth of its next generation HD PicoP display technology.

Endeavour International (NYSE: END) completed the acquisition of the additional 23.43% working interest in the Alba field from Conoco Phillips.

National Oilwell Varco will pay approximately CAD$240 million to acquire CE Franklin (Nasdaq: CFK).

On the downside

The Buckle (NYSE: BKE) disappointed with a mere 0.2% increase in May same store sales.

Arch Coal (NYSE: ACI) subsidiary Arch Western Finance redeemed $450 million worth of senior notes due 2013.

Shares of U. S. Steel (NYSE: X) dropped after WP Steel filed for Chapter 11 bankruptcy protection.

In the broad market, declining issues outpaced advancers by a margin of more than 4 to 3 on the NYSE and by more than 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 3 points to 758.

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