The markets traded mixed during the midday as consumer prices surged in September. The Dow lost 16 points to 13,897 while Nasdaq climbed 21 points to 2785.
On the upside
China TechFaith Wireless Communication Technology Ltd. (Nasdaq: CNTF) won a government contract to develop a phone for police forces in two Chinese provinces.
Third quarter earnings slipped for Steel Dynamics Inc. (Nasdaq: STLD) but the results met expectations.
Manpower Inc. (NYSE: MAN) reported sharply higher third quarter earings as strong growth in Europe offset a drop in domestic revenue.
On the downside
The FDA notified Exact Sciences Corp. (Nasdaq: EXAS) that the company's PreGen-Plus colorectal screening device needs approval before going to market.
MGIC Investment Corp. (NYSE: MTG) swung to a third quarter loss and warned of losses through 2008.
Thornburg Mortgage Inc. (NYSE: TMA) swung to a wider than expected loss of more than $1 billion for the third quarter, or a loss of $8.83 per share.
In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 3 on the NYSE and by a margin of 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks added 4 points to 827.