US stocks edge lower at midday; Dreamworks sinks
U.S. stocks are moving lower in midday trading as traders keep a close eye on the conflict in Iraq.
DreamWorks Animation SKG sank 12 percent after “How to Train Your Dragon 2” failed to take top box office honors over the weekend. Medtronic fell 3 percent after the medical device maker announced a deal to buy its Ireland-based rival Covidien.
The Dow Jones industrial average lost 44 points, or 0.3 percent, to 16,731 points as of noon Eastern time Monday.
The Standard & Poor’s 500 index fell three points, or 0.2 percent, to 1,932. The Nasdaq composite lost seven points, or 0.2 percent, to 4,317.
Bond prices were flat. The yield on the 10-year Treasury note held steady at 2.60 percent.