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Markets Recover As Pending Home Sales Rise

The markets recovered early morning losses during the midday to trade flat with the Dow easing a point to 13,037 as March pending home sales rose. Nasdaq rose 9 points to 2965.

On the upside

A Seeking Alpha contributor listed Kodiak Oil & Gas (NYSE: KOG) as one of five natural gas companies that will rebound in 2013.

The Food and Drug Administration lifted its hold on Insmed's (NYSE: INSM) lung disease drug Arikace.

Synacor's (Nasdaq: SYNC) Vice President of Mobile Jaafer Haidar will present at International CTIA Wireless on Tuesday, May 8.

On the downside

Clearwire (Nasdaq: CLWR) will collaborate with Sequans Communications (NYSE: SQNS) to develop standards for and devices to support multi-band, multi-mode TDD-LTE and FDD-LTE solutions but the stock price slipped.

Raymond James said that Tempur-Pedic International (NYSE: TPX) will offer discounts on its most profitable Cloud Supreme model.

Thompson Creek Metals (NYSE: TC) will offer $200 million in senior notes.

In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 4 on the NYSE and by more than 7 to 5 on Nasdaq. The Russell 2000 which tracks small cap stocks added 2 points to 794.

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