The markets traded mixed during the midday with the Dow slipping 13 points to 12,753 as Spanish bond yields climbed. Nasdaq gained 25 points to 2897.
On the upside
A Seeking Alpha contributor wrote that coal stocks were undervalued and that Patriot Coal (NYSE: PCX) stock would likely double.
Shares of Hovnanian (NYSE: HOV) climbed on news that homebuilder sentiment rose to a five year high in June.
On the downside
Buckeye Technologies (NYSE: BKI) temporarily closed its Florida plant due to a steam drum failure.
J.P. Morgan downgraded Rambus (NYSE: RMBS) to a Neutral rating.
In the broad market, advancing issues outpaced decliners by a margin of more than 9 to 7 on the NYSE while decliners were on par with advancers on Nasdaq. The Russell 2000 which tracks small cap stocks added a fraction to 772.