Corporate earnings disappointed to weigh the markets down with the Dow closing flat at 12,807. Nasdaq tumbled 20 points to 2841.
On the upside
Incyte (Nasdaq: INCY) narrowed first quarter losses more than expected.
Rising rare earth prices lifted shares of Molycorp (NYSE: MCP).
FirstEnergy (NYSE: FE) reported lower first quarter earnings but revenue topped estimates and the company forecast 2011 through 2013 income above expectations.
On the downside
Citron Research questioned company data released by Sky-Mobi (Nasdaq: MOBI).
Retreating gold prices weighed down shares of Eldorado Gold (NYSE: EGO).
Anadigics (Nasdaq: ANAD) widened first quarter losses and warned of lower second quarter revenue.
In the broad market, declining issues outpaced advancers by a margin of more than 2 to 1 on the NYSE and by nearly 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks fell 11 points to 843.
