Markets Close Lower Over Greek Debt Concerns

The markets recovered earlier losses in afternoon trading but ended the session lower with the Dow slipping 6 points to 12,653 as the Greek debt crisis continued to weigh on investors. Nasdaq lost 4 points to 2811.

On the upside

Citigroup expects GTx (Nasdaq: GTXI) to report positive results next year for a Phase III clinical trial of its cancer related muscle wasting treatment Ostarine and lifted its price target on the biopharmaceutical to $19 per share.

Comstock Resources (NYSE: CRK) reported a 25% increase in proved oil and natural gas reserves last year.

Shares of InvenSense (NYSE: INVN) continued rising after posting sharply higher third quarter earnings last week that surpassed analyst expectations by a wide margin.

On the downside

Hyperdynamics (NYSE: HDY) will raise approximately $30 million through a registered direct offering.

The Food and Drug Administration approved the skin cancer treatment Erivedge which is made by Curis (Nasdaq: CRIS) and Genentech but the stock price fell.

Globe Specialty Metals (NYSE: GSM) warned of lower second quarter earnings.

In the broad market, declining issues outpaced advancers by a margin of more than 5 to 3 on the NYSE and by nearly 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 6 points to 792.

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