The Standard & Poor's MidCap 400 index declined on Monday while oil prices dropped sharply and shares of St. Louis-based residential furniture company Furniture Brands International Inc. declined.
The S&P MidCap 400 is an index used to track mid-sized companies which have a market capitalization of $1.5 billion to $5.5 billion. According to S&P, midcap stocks make up roughly 7 percent of the U.S. equities market.
At 12:15 p.m., the index slipped 0.32 points to 786.64.
Shares of Furniture Brands International declined $1.90, or 15.7 percent, to $10.22, following an analyst downgrade.
Shares of financial and banking stocks declined. Washington Federal Inc. slipped $1.49, or 8.6 percent, to $15.80, and set a 52-week low of $15.58, and shares of TCF Financial Corp. declined 89 cents, or 7.6 percent, to $10.88, and set a 52-week low of $10.79.
On the rising side, shares of Kindred Healthcare Inc. gained $2.35, or 8.7 percent, to $29.46, following an analyst upgrade.
Shares of insurer PMI Group Inc. advanced 12 cents, or 8.1 percent, to $1.60.
Shares of corrugated packaging company Temple-Inland Inc. rose 84 cents, or 7.9 percent, to $11.44, also following an analyst upgrade.
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