Countrywide's statement that December foreclosures were the highest on record sent the markets lower during the midday with the Dow slipping 8 points to 12,581. Nasdaq lost 7 points to 2433.

On the upside

Higher enrollment lifted first quarter earnings for education company Apollo Group (Nasdaq: APOL).

DuPont (Nasdaq: DD) lifted its outlook for both 2007 as well as 2008 due to strong growth prospects for emerging markets.

First quarter earnings climbed to surpass expectations for Robbins & Myers (NYSE: RBN) as demand rose.

On the downside

Although third quarter earnings for Premier Exhibition (Nasdaq: PRXI) beat expectations, sales fell prompting the touring exhibitions operator to lower its 2008 guidance.

Analysts downgraded Petrobras Energia Participaciones S. A. (NYSE: PZE).

Shares of Washington Mutual (NYSE: WM) tumbled after Countrywide December foreclosures were the highest on record.

In the broad market, declining issues outpaced advancers by a margin of 10 to 9 on the NYSE and by more than 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks slipped a fraction to 704.