Flat Close For Markets
Despite a promise by President Obama to create 600,000 jobs, the markets closed flat with the Dow adding a point to 8764 as commodities prices retreated. Nasdaq lost 7 points to 1842.
Shares of Continental Airlines (NYSE: CAL) and American Airlines parent AMR (NYSE: AMR) fell after the International Air Transport Association doubled its expected losses for the year for global airlines.
Headwaters (NYSE: HW) proposed amendments to change its senior credit facility.
On the upside
Arena Pharmaceuticals (Nasdaq: ARNA) reported positive results from a late stage clinical trial of its obesity treatment lorcaserin.
MannKind (Nasdaq: MNKD) reported upbeat study results for its inhalable insulin Afresa.
China Housing & Land Development (Nasdaq: CHLN) began construction of its Puhua residential community project in China.
On the downside
Shares of Continental Airlines (NYSE: CAL) and American Airlines parent AMR (NYSE: AMR) fell after the International Air Transport Association doubled its expected losses for the year for global airlines.
Headwaters (NYSE: HW) proposed amendments to change its senior credit facility.
In the broad market, declining issues outpaced advancers by a margin of nearly 2 to 1 on the NYSE and by nearly 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 5 points to 524.
