The markets closed flat with the Dow adding a point to 15,545 on disappointing earnings. Nasdaq rose 12 points to 3600.
On the upside
Shares of Alaska Communications Systems (Nasdaq: ALSK) continued rising after a Seeking Alpha contributor wrote that the merger of the wireless assets of General Communications and Alaska Communications would increase the value of Alaska Communications..
Rising gold prices lifted shares of Eldorado Gold (NYSE: EGO), Iamgold (NYSE: IOC) and Kinross Gold (KGC).
Shares of USEC (NYSE: USU) have been steadily rising and nearly doubled today for no apparent reason and the company issued a statement that their policy is not to comment on unusual market activity.
On the downside
Standard & Poor’s placed Saks (NYSE: SKS) on watch for a possible credit rating downgrade.
The Wall Street Journal reported that RadioShack (NYSE: RSH) retained the services of investment bank Peter J. Solomon.
Tower International (NYSE: TOWR) announced a secondary offering of 6 million common shares.
In the broad market, advancing issues outpaced decliners by a margin of more than 3 to 2 on the NYSE and by more than 7 to 5 on Nasdaq. The broader S&P 500 index added 3 points to 1695.
