The markets traded mixed during the midday with the Dow rising 51 points to 15,166 as manufacturing activity slipped in May. Nasdaq dropped 27 points to 3428.
On the upside
MannKind (Nasdaq: MNKD) completed a Phase 3 study of its inhalable insulin AFREZZA in type 1 diabetes patients and will report study results in the summer.
Clovis Oncology (Nasdaq: CLVS) reported positive initial results from an ongoing Phase I/II study of its ovarian cancer treatment rucaparib.
CleanWorld Partners ordered a Capstone C800 Microturbine and Capstone Clean Cycle 125kW waste heat-to-electricty generator from Capstone Turbine (Nasdaq: CPST) .
On the downside
Profit taking sank shares of Groupon (Nasdaq: GRPN).
Investors locked in profits on Tesla Motors (Nasdaq: TSLA).
Shares of Pandora Media (NYSE: P) dropped on news that Apple (Nasdaq: AAPL) inked a deal with Warner Music Group to begin a new music streaming service.
In the broad market, declining issues outpaced advancers by a margin of 9 to 5 on the NYSE and by 7 to 5 on Nasdaq. The broader S&P 500 index slipped 4 points to 1626.
