The markets traded mixed during the midday with the Dow slipping 13 points to 17,632 while Nasdaq edged up a fraction to 5,032.

On the upside

Piedmont Natural Gas (NYSE: PNY) will be acquired by Duke Energy (NYSE: DUK) for a premium of approximately $4.9 billion in cash.

Eros International (NYSE: EROS) affirmed its strong business model.

Bargain hunters lifted shares of Merit Medical Systems (Nasdaq: MMSI).

On the downside

Xerox (NYSE: XRX) fell to a loss for the third quarter as revenue dropped and the company announced plans to review its business portfolio and capital allocation options.

Shares of Cemex (NYSE: CX) extended its losses.

Valeant Pharmaceuticals (NYSE: VRX) defended itself against allegations of questionable business practices but the stock price continued to fall.

In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 3 on the NYSE and by 7 to 5 on Nasdaq. The broader S&P 500 slipped 3 points to 2,071. Bitcoin eased a fraction to $282.