May 22, 2012 at 18:05 PM EDT
Flat Close As Fitch Downgrades Japan

The markets closed flat with the Dow easing 1 point to 12,502 despite a strong gain in existing home sales as Fitch downgraded Japan's sovereign credit rating. Nasdaq lost 8 points to 2839.

On the upside

SAP will pay a premium of approximately $4.3 billion to acquire Ariba (Nasdaq: ARBA).


Old Republic International (Nasdaq: ORI) sold a 20.6% stake in its wholly owned subsidiary Republic Financial Indemnity Group.


DSW (NYSE: DSW) reversed year ago losses to post a better than expected profit for the first quarter.


On the downside


Motley Fool's investing community expects MEMC Electronic Materials (NYSE: WFR) to outperform the S&P 500 but the stock price fell.


Shares of James River Coal (Nasdaq: JRCC) fell despite analyst Michael Dudas' recommendation yesterday to purchase shares of the stock.

Profit taking sank shares of CVR Energy (NYSE: CVI), whose stock price climbed yesterday on news that billionaire investor Carl Icahn increased his stake in the nitrogen fertilizer company to 80%.

In the broad market, advancing issues barely edged out decliners by a margin of nearly 10 to 9 on the NYSE while decliners outpaced advancers by a margin of more than 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 5 points to 759.

Stock Market XML and JSON Data API provided by FinancialContent Services, Inc.
Nasdaq quotes delayed at least 15 minutes, all others at least 20 minutes.
Markets are closed on certain holidays. Stock Market Holiday List
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
Press Release Service provided by PRConnect.
Stock quotes supplied by Six Financial
Postage Rates Bots go here