Markets lower as service sector expansion slows

Service sector expansion slowed in October to weigh the markets down during the midday with the Dow slipping 12 points to 16,792. Nasdaq lost 5 points to 4,478.

On the upside

Shares of Regulus Therapeutics (Nasdaq: RGLS) continued soaring.

Bargain hunters snapped up shares of Layne Christensen (Nasdaq: LAYN). 

Chembio Diagnostics (Nasdaq: CEMI) partnered with Integrated BioTherapeutics to develop point-of-care diagnostic tests for Ebola and febrile illness.

On the downside

Akebia (Nasdaq: AKBA) reported positive results from a Phase 2b trial of non-dialysis patients with anemia related chronic kidney disease treatment AKB-6548 but a high rate of serious adverse event reports raised concerns.

The re-election of Brazilian President Dilma Rousseff weighed down shares of Centrais (NYSE: EBR) and Gafisa (NYSE: GFA).

Tenneco (NYSE: TEN) reported higher third quarter earnings that topped analyst estimates but the stock price fell.

In the broad market, declining issues outpaced advancers by a margin of more than 7 to 5 on the NYSE and by a 9 to 7 on Nasdaq. The broader S&P 500 slipped 4 points to 1959. Bitcoin added a point to $354.

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