The markets retreated in late afternoon trading to close lower with the Dow losing 22 points to 12,197 as gas prices continued to climb despite lower crude oil prices. Nasdaq fell 12 points to 2730.
On the upside
Goldman Sachs analyst Tim Boddy upgraded Nokia (NYSE: NOK) to a Buy rating with a $12.40 price target.
RadioShack (NYSE: RSH) will sell the Apple (Nasdaq: AAPL) iPad 2 beginning tomorrow.
Wells Fargo upgraded Parker Drilling (NYSE: PKD) to an Outperform rating.
On the downside
Investors locked in profits on Bristol-Myers (NYSE: BMY), whose shares rose on Friday after the Food and Drug Administration approved the biopharmaceutical's melanoma treatment Yervoy.
Wells Fargo (NYSE: WFC) will no longer offer their debit card rewards program to new customers and may eliminate the program for all customers.
Concerns that online gambling may be legalized weighed down shares of Las Vegas Sands (NYSE: LVS).
In the broad market, declining issues outpaced advancers by a margin of more than 3 to 2 on the NYSE and by more than 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks slipped 2 points to 821.
