February 25, 2013 at 12:51 PM EST
Sequester Concerns Weigh Down Markets
The markets turned negative during the midday with the Dow losing 37 points to 13,962 as the nation moved closer to the sequester. Nasdaq slipped 2 points to 3159.
On the upside
Endo Health Solutions (Nasdaq: ENDP) named Rajiv De Silva as its new president and chief executive.
Barnes & Noble (NYSE: BKS) founder Leonard Riggio will attempt to purchase the booksellers retail business.
Canaccord upgraded Venaxis (Nasdaq: APPY) to a Buy rating.
On the downside
Piper Jaffray analyst Jagadish Iyer lowered his 2013 earnings and revenue guidance for Universal Display (Nasdaq: PANL) saying that the company may not be the solo components vendor for Samsung's Galaxy S4.
Sinopec will acquire a 50% stake in Chesapeake Energy's (NYSE: CHK) Oklahoma assets at a discounted price.
Dillard's (NYSE: DDS) reported higher fourth quarter earnings but the results missed analyst estimates.
In the broad market, declining issues outpaced advancers by a margin of 7 to 5 on the NYSE and by more than 3 to 2 on Nasdaq. The broader S&P 500 index lost 4 points to 1511.
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