Markets Recover To Close Flat

The markets recovered losses in late afternoon trading to close flat with the Dow adding 4 points to 12,878. Nasdaq held steady at 2931.

On the upside

Five Star Equities expects a global economic recovery to boost DryShips' (Nasdaq: DRYS) revenue.

A Seeking Alpha contributor listed EXCO Resources (NYSE: XCO) as one of five energy stocks that are undervalued.

MedAssets (Nasdaq: MDAS) retained the services of J. P. Morgan to explore strategic alternatives.

On the downside

Investors locked in profits on Complete Genomics (Nasdaq: GNOM), whose stock price surged yesterday on the company's deal with the Mayo Clinic.

Shares of MEMC Electronic Materials (NYSE: WFR) fell ahead of its earnings release tomorrow after market close.

Alnylam Pharmaceuticals (Nasdaq: ALNY) will offer 7 million common shares to the public.

In the broad market, declining issues outpaced advancers by a margin of more than 5 to 3 on the NYSE and by nearly 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks slipped 4 points to 820.

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