Markets Retreat Even As Jobless Claims Fall

The markets retreated during the midday with the Dow losing 46 points to 10,451 despite a drop in jobless claims. Nasdaq fell 19 points to 2244.

On the upside

Acadia Pharmaceuticals (Nasdaq: ACAD) initiated a Phase III trial of its Parkinson's disease psychosis treatment pimavanserin.

Teradyne (NYSE: TER) reversed year ago losses to post a profit for the second quarter.

Hill-Rom (NYSE: HRC) impressed with higher third quarter earnings and lifted its full year outlook.

On the downside

Network Engines (Nasdaq: NENG) swung to a profit for the second quarter but revenue fell short.

AsiaInfo-Linkage (Nasdaq: ASIA) reported higher second quarter earnings but investors were disappointed that the results failed to beat expectations.

Quantum (NYSE: QTM) disappointed with a loss for the first quarter.

In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 3 on the NYSE and by more than 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 6 points to 644.