Markets mixed as oil continues to fall

Despite a sharp drop in first time applications for unemployment benefits, the markets traded mixed during the midday with the Dow gaining 78 points to 17,262 as crude oil prices continued to slide. Nasdaq lost 9 points to 4,628.

On the upside

Harman International (NYSE: HAR) reported higher second quarter earnings and revenue that beat expectations and entered a strategic collaboration with Baidu (Nasdaq: BIDU) to launch vehicle networking solutions.

Bargain hunters lifted shares of National Bank of Greece (NYSE: NBG).

Neovasc (Nasdaq: NVCN) increased the size of its public offering from 8 million common shares to 10.5 million common shares and priced the offering at $7.19 per common share.

On the downside

Alibaba’s (NYSE: BABA) disappointing revenue weighed down shares of Yahoo (Nasdaq: YHOO), which owns nearly 384 million shares of the Chinese e-commerce company.

HSBC downgraded Petrobras (NYSE: PBR) from a Neutral rating to an Underweight rating.

Shares of Presbia (Nasdaq: LENS) dropped on its first trading day.

In the broad market, declining issues outpaced advancers by a margin of more than 5 to 4 on the NYSE and by nearly 5 to 4 on Nasdaq. The broader S&P 500 held steady at 2002. Bitcoin held steady at $227.

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