The markets retreated during the midday but continued trading in positive territory with the Dow adding 3 points to 12,266 as oil prices rebounded. Nasdaq rose 13 points to 2758.
On the upside
MGM Resorts International (NYSE: MGM) will receive a 51% stake in MGM China when the Macau casino begins trading on the Hong Kong Stock Exchange.
NetApp entered an agreement to market and resell Quantum's (NYSE: QTM) StorNext software.
Soroban Capital Partners acquired a 5.4% stake in PetroHawk Eenrgy (NYSE: HK) to become the largest stakeholder of the energy company.
On the downside
Biostar Pharmaceuticals (Nasdaq: BSPM) appointed Zack Zibing Pan to the position of chief financial officer replacing Deyin (Bill) Chen who resigned.
Mesabi Trust (NYSE: MSB) declared a distribution of 5 cents per Unit of Beneficial Interest payable on May 20, 2011 to unitholders of record April 30, 2011.
Sprint's (NYSE: S) new dual touch-screen Kyocera Echo only offers seven applications that can run as independent apps on each screen.
In the broad market, advancing issues outpaced decliners by a margin of nearly 9 to 7 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks added a fraction to 822.
