Markets Slip As Pending Home Sales Dip

The markets traded lower during the midday with the Dow losing 37 points to 14,522 as pending home sales edged down in February. Nasdaq slipped 5 points to 3247.

On the upside

On Monday, Revolution Lighting Technologies (Nasdaq: RVLT) introduced its new 15 watt tube lamp that is the most energy efficient four foot T8 lamp on the market.

Comstock Holdings (Nasdaq: CHCI) narrowed fourth quarter losses and forecast a profit for 2013.

Mattress Firm Holding (Nasdaq: MFRM) reported lower fourth quarter earnings but company forecast full year revenue ahead of estimates.

On the downside

Shares of Molycorp (NYSE: MCP) continued falling after announcing the departure of chief technology officer John L. Burba Ph.D. yesterday.

CLSA initiated coverage of Rackspace Hosting (NYSE: RAX) with an Underperform rating.

Investors locked in profits on LogMeIn (Nasdaq: LOGM), whose stock price climbed yesterday after winning a patent case.

In the broad market, declining issues outpaced advancers by a margin of more than 7 to 5 on the NYSE and by nearly 5 to 3 on Nasdaq. The broader S&P 500 index slipped 3 points to 1560.

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