Markets Surrender Gains

The major indexes gave up all of its gains as Iceland's ash cloud continued to restrict flights throughout Europe. Concerns about Goldman Sachs weighed down the financial services sector. The Dow lost 13 points to 11,005 while Nasdaq dropped 25 points to 2455.

On the upside

Sequenom (Nasdaq: SQNM) launched the MassARRAY Analyzer 4, its next generation high performance nucleic acid analysis platform.

Geo Group (NYSE: GEO) will pay approximately $374 million in cash and stock to acquire rival prison operator Cornell (NYSE: CRN).

The Journal of Alzheimer's Disease published an article with new analysis that affirms the effectiveness of Prana's (Nasdaq: PRAN) Alzheimer's treatment candidate PBT2.

On the downside

McMoRan Exploration (NYSE: MMR) blamed one time charges for widening first quarter losses.

GMX Resources (NYSE: GMXR) completed a horizontal well at the Haynesville/Bossier site with an initial production rate of 14.4 million cubic feet of gas per day.

Shares of Canadian Solar (Nasdaq: CSIQ) fell following an analyst downgrade.

In the broad market, declining issues outpaced advancers by a margin of nearly 3 to 1 on both the NYSE and Nasdaq. The Russell 2000 which tracks small cap stocks lost 9 points to 705.