The markets reversed earlier losses to close just above the flatline with the Dow adding 4 points to 10,409 as BP suspended its dividend and pledged an initial $20 billion to clean up the oil spill and pay for damages. Nasdaq edged up a fraction to 2305.
On the upside
CombinatoRx (Nasdaq: CRXX) will join the Russell 3000 Index on June 25 and may be included in the Russell 2000 as well.
Rackspace Hosting (NYSE: RAX) enhanced its Hybrid Email for more flexibility and easier use.
Longtop Financial Technologies (NYSE: LFT) partnered with Netezza (NYSE: NZ) to jointly market their products in China.
On the downside
Gleacher & Co. initiated coverage of Myriad Genetics (Nasdaq: MYGN) with a Sell rating.
Avondale downgraded Hawaiian Holdings (Nasdaq: HA).
Fitch Ratings downgraded Anadarko Petroleum's (NYSE: APC) outlook to Negative.
In the broad market, declining issues outpaced advancers by a margin of more than 9 to 7 on the NYSE and by more than 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks slipped 2 points to 666.
