June 07, 2012 at 18:08 PM EDT
No Additional Stimulus From Fed, Markets Close Mixed
The markets retreated from earlier highs to close mixed with the Dow rising 46 points to 12,460 after Federal Reserve Chairman Ben Bernanke failed to offer additional economic stimulus measures. Nasdaq fell 13 points to 2831.
On the upside
Wunderlich Securities initiated coverage of Kodiak Oil & Gas (NYSE: KOG) with a Buy rating.
A Seeking Alpha contributor listed Zalicus (Nasdaq: ZLCS) as one of five biotechnology stocks expected to advance.
Yelp (Nasdaq: YELP) introduced its online business opinion service in Finland.
On the downside
Ubiquiti Networks (Nasdaq: UBNT) introduced its AirMax Titanium base station product portfolio but the stock price fell.
In the broad market, advancing issues outpaced decliners by a margin of nearly 7 to 3 on the NYSE and by more than 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks rose 3 points to 768.
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