The markets extended its losses during the midday with the Dow plummeting 149 points to 13,057 over disappointing jobs data. Nasdaq sank 57 points to 2966.

On the upside

Microsoft (Nasdaq: MSFT) selected Dolby Laboratories' (NYSE: DLB) Dolby Digital Plus technology for digital audio encoding in the Windows 8 operating system.

LeapFrog (NYSE: LF) narrowed first quarter losses more than expected as revenue surged to beat analyst estimates.

Cincinnati Bell (NYSE: CBB) reported lower first quarter earnings but the company forecast full year revenue ahead of estimates.

On the downside

InvenSense (NYSE: INVN) reported sharply higher fourth quarter earnings but the company lowered the high end of its first quarter revenue forecast.

Arcos Dorados (NYSE: ARCO) reported lower first quarter earnings.

Southwestern Energy (NYSE: SWN) disappointed with lower first quarter earnings that fell short of analyst expectations.

In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 2 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks tumbled 11 points to 794.