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Markets rebound at midday

The markets rebounded during the midday to trade higher with the Dow rising 30 points to 17,244. Nasdaq gained 8 points to 4,757.


On the upside


Zynerba Pharmaceuticals (Nasdaq: ZYNE) reported a loss for the fourth quarter but the stock price soared when GW Pharmaceuticals reported upbeat results for its cannabis based treatment for epilepsy.

Fourth quarter earnings slipped for Kandi Technologies Group (Nasdaq: KNDI) but revenue climbed.


Cliffs Natural Resources (NYSE: CLF) will restart iron ore production at Northshore Mining by May 15, 2016.


On the downside


Investors locked in profits on Peabody Energy (NYSE: BTU).


TravelCenters of America (NYSE: TA) fell to a greater than expected loss for the fourth quarter on lower revenue.


Jefferies analyst George Notter cut his price target on Arista Networks (NYSE: ANET) from $52.50 to $40.25.


In the broad market, declining issues outpaced advancers by a margin of 3 to 2 on the NYSE and by nearly 5 to 4 on Nasdaq. The broader S&P 500 slipped a point to 2,020. Bitcoin edged up to $413.

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