Markets Rebound At Midday
The markets rebounded during the midday with the
Dow gaining 55 points to 12,625 even as growth in the nation's service sector slipped in June. Nasdaq rose 8 points to 2834.
On the upside
Rumors circulated that Kinetic Concepts (NYSE: KCI) engaged in discussions to be acquired.
Fuwei Films (Nasdaq: FFHL) signed a letter of intent to supply PETG heat shrinkable label films to Coca-Cola in China.
China New Borun (NYSE: BORN) extended its contract with auditors BDO China Shu Lun Pan Certified Public Accountants.
A federal appeals court reinstated a legal challenge to union concessions made between YRC Worldwide (Nasdaq: YRCW) and the International Brotherhood of Teamsters.
Davenport & Co. downgraded Walter Energy (NYSE: WLT) to a Neutral rating.
DragonWave (Nasdaq: DRWI) announced the resignation of vice president of worldwide sales Brian McCormack.
In the broad market, advancing issues outpaced decliners by a margin of nearly 10 to 9 on the NYSE and by nearly 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks added 3 points to 844.
