Mixed Earnings, Mixed Markets

The markets traded mixed during the midday with the Dow adding 8 points to 8720 while Nasdaq slipped 2 points to 1882.  Earnings news continues to weigh on investors.

On the upside

BioCryst Pharmaceuticals (Nasdaq: BCRX) reported promising results from its experimental flu treatment peramivir.

Webster Financial (NYSE: WBS) swung to a profit for the second quarter as deposits increased.

Wedbush Morgan upgraded CDC (Nasdaq: CHINA).

On the downside

Associated Banc-Corp (Nasdaq: ASBC) blamed higher loan loss provisions for swinging to a second quarter loss.

Wave Systems (Nasdaq: WAVX) will raise over $3 million through an offering of common shares.

Wilmington Trust (NYSE: WL) warned that second quarter earnings will drop to fall short of expectations as loan loss provisions climb. 

In the broad market, declining issues outpaced advancers by a margin of more than 10 to 9 on the NYSE and by nearly 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks slipped 3 points to 518.