Mid-Day Market Update: US Stocks Pare Losses; Expedia Shares Drop Following Downgrade

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Midway through trading Monday, the Dow traded down 0.08 percent to 15,225.36 while the NASDAQ gained 0.11 percent to 3,795.96. The S&P also fell, dropping 0.07 percent to 1,701.95.
Top Headline
Facebook
FB
has acquired mobile tech startup Onavo for an undisclosed sum. Onavo was founded in 2010 and has around 40 employees. It will become Facebook's first office in Israel.
Equities Trading UP
Antares Pharma
ATRS
shot up 5.94 percent to $4.80 after the company announced the
FDA approval
of OTREXUP injection. Shares of Benefitfocus
BNFT
got a boost, shooting up 5.11 percent to $44.00 after
Goldman Sachs
initiated coverage on the stock with a Buy rating. Aratana Therapeutics
PETX
was also up, gaining 9.20 percent to $25.65 after the company
agreed to acquire
Vet Therapeutics.
Equities Trading DOWN
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Shares of Expedia
EXPE
were down 7.49 percent to $47.86 after Deutsche Bank downgraded the stock from Buy to Hold and lowered target price from $66 to $51. Fair Isaac
FICO
shares tumbled 3.65 percent to $55.24 after the company lowered its FY13 outlook. Coach
COH
was down, falling 1.41 percent to $53.82 after Canaccord Genuity downgraded the stock from Buy to Hold and lowered the target price from $65 to $62
Commodities
In commodity news,
oil traded down 0.18 percent
to $101.84, while gold traded up 0.89 percent to $1,279.50. Silver traded up 0.87 percent Monday to $21.45, while copper rose 1.02 percent to $3.30.
Eurozone
European shares
were mostly higher
today. The Spanish Ibex Index rose 0.28 percent, while Italy's FTSE MIB Index gained 0.19 percent. Meanwhile, the German DAX fell 0.01 percent and the French CAC 40 rose 0.07 percent while U.K. shares gained 0.32 percent.
Economics
Federal Reserve Chairman Ben Bernanke is expected to speak at 8:00 p.m. ET.
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Posted In: EarningsNewsCommoditiesGlobalEcon #sHotIntraday UpdateMarketsMoversMid-Day Market Update
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