February 28, 2013 at 12:29 PM EST
Markets Flat As Economic Expansion Slows
The markets traded near the flatline during the midday with the Dow gaining 11 points to 14,086 as expansion of the nation's economy slowed in the fourth quarter. Nasdaq rose 8 points to 3170.
On the upside
Universal Display (Nasdaq: PANL) reported flat fourth quarter earnings but revenue surged to surpass analyst expectations.
Fourth quarter earnings rose for Monster Beverage (Nasdaq: MNST) as revenue climbed.
Barnes & Noble (NYSE: BKS) fell to a third quarter loss but optimism that company founder and chairman Leonard Riggio will buy the retail stores lifted shares of the book seller.
On the downside
Procera Networks (Nasdaq: PKT) reported lower fourth quarter earnings that missed expectations and forecast 2013 revenue below estimates.
Cablevision Systems (NYSE: CVC) reported higher fourth quarter earnings due to a legal settlement but the company lost customers and recorded $100 million in costs due to Superstorm Sandy.
Vocera Communications (NYSE: VCRA) swung to a profit for the fourth quarter but the company forecast current quarter results that fell short of expectations.
In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 4 on the NYSE and by 10 to 9 on Nasdaq. The broader S&P 500 index rose 2 points to 1518.
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