The markets extended its losses during the midday with the Dow dropping 79 points to 16,402 over disappointing earnings. Nasdaq slipped 2 points to 4212.
On the upside
YRC Worldwide (Nasdaq: YRCW) resumed discussions with its Teamsters union on a revised labor contract.
Deutsche Bank initiated coverage of Solar City (Nasdaq: SCTY) with a Buy rating and a $90 price target.
Shares of Nordic American Tankers (NYSE: NAT) continued rising after announcing yesterday that it took delivery of six Platform Supply Vessels.
On the downside
Sterne Agee lowered its fourth quarter and first quarter revenue and earnings estimates for Zynga (Nasdaq: ZNGA).
CSX (NYSE: CSX) reported lower fourth quarter earnings that missed analyst expectations due to weak coal demand.
Citigroup (NYSE: C) reported higher fourth quarter earnings but the results fell far short of analyst expectations.
In the broad market, declining issues outpaced advancers by a slim margin on the NYSE and by a margin of nearly 5 to 4 on Nasdaq. The broader S&P 500 lost 4 points to 1843. Bitcoin slipped $18.19 or 1.97% to $921.00.
