Markets Mixed As Home Prices Drop

The markets traded mixed during the midday with the Dow rising 27 points to 11,582 as single family home prices dropped in October. Nasdaq lost 4 points to 2662.

On the upside

Santarus (Nasdaq: SNTS) submitted a license application to the Food and Drug Administration for its acute angioedema treatment RHUCIN.

Gushan Environmental Energy (NYSE: GU) is assessing the effects of China's consumption tax.

BB&T Capital Markets upgraded KBR (Nasdaq: KBR) to a Buy rating.

On the downside

Sprint (NYSE: S) launched its 4G service in four San Francisco area cities but the stock price fell.

Motley Fool said that Saks' (NYSE: SKS) profitability and return on equity was below that of Nordstrom (NYSE: JWN).

Shares of XOMA (Nasdaq: XOMA) continued falling after Seeking Alpha contributor Edward Stevenson questioned the biopharmaceutical's drug development yesterday.

In the broad market, declining issues outpaced advancers by a margin of nearly 10 to 9 on the NYSE and by more than 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks slipped 2 points to 790.