The markets traded mixed during the midday with the Dow adding 5 points to 18,304 as retreating crude oil prices tempered enthusiasm for a surge in home construction. Nasdaq slipped 5 points to 5,072.
On the upside
500.com (NYSE: WBAI) fell to a loss for the first quarter but revenue rose and the company appointed Zhengming Pan to the position of chief executive officer.
Cheetah Mobile (NYSE: CMCM) reported sharply higher first quarter earnings and revenue that surpassed analyst expectations.
MagneGas (Nasdaq: MNGA) completed a MagneGas 2(R) presentation to a second top ten utility company in the nation.
On the downside
Roundy’s (NYSE: RNDY) priced a secondary offering of 3.5 million common shares at the discounted price of $3.50 per share.
Linn Energy (Nasdaq: LINE) priced a public offering of 16 million common units at the discounted price of $11.79 per unit.
Intercept Pharmaceuticals (Nasdaq: ICPT) announced a Phase 3 clinical trial of obeticholic acid to treat patients with non-cirrhotic nonalcoholic steatohepatits with liver fibrosis but the trial would take longer to complete than investors had anticipated.
In the broad market, declining issues outpaced advancers by a margin of more than 5 to 3 on the NYSE and by more than 7 to 5 on Nasdaq. The broader S&P 500 held steady at 2129. Bitcoin added $1 to $233.
