European countries officially approved the second bailout package for Greece to lift the markets to a modestly higher close with the Dow rising 16 points to 13,194. Nasdaq edged up a fraction to 3040.
On the upside
Endocyte (Nasdaq: ECYT) will apply for conditional marketing authorization with the European Union for its ovarian cancer treatments EC145 and EC20.
Eagle Bulk Shipping (Nasdaq: EGLE) reported a smaller than expected loss for the fourth quarter.
On the downside
Penson Worldwide (Nasdaq: PNSN) widened fourth quarter losses.
Concerns that Youku's (NYSE: YOKU) $1 billion offer to purchase smaller rival Tudou was too high weighed down shares of the online video site.
Shares of uranium producer Cameco (NYSE: CCJ) fell after a series of earthquakes struck Japan earlier today.
In the broad market, declining issues outpaced advancers by a margin of more than 5 to 2 on the NYSE and by more than 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 7 points to 823.