The nation's economy expanded in the second quarter at a greater rate than previously reported to lift the markets higher during the midday with the Dow rising 27 points to 13,130. Nasdaq gained 6 points to 3084. On the upside
Sealed Air (NYSE: SEE) announced that Jerome Peribere will succeed chief executive William Hickey upon his retirement in March 2013. The lockup period expired for Yelp (NYSE: YELP). A British supplier completed its stocking orders to MAKO Surgical (Nasdaq: MAKO). On the downside ArQule's (Nasdaq: ARQL) Japanese development partner halted clinical trials of its lung cancer treatment citing safety concerns.Barclays Equity Research slashed its price target on Baidu (Nasdaq: BIDU) to $153 from $189. Pacific Crest lowered its estimates for First Solar (Nasdaq: FSLR). In the broad market, advancing issues outpaced decliners by a margin of nearly 2 to 1 on the NYSE and by more than 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 5 points to 819.