Flat Close As Greek Talks Continue

The markets closed flat with the Dow slipping 11 points to 12,708 as Greece continued negotiations with creditors. Nasdaq lost 2 points to 2784.

On the upside

Investors expect demand for coal to increase after Chesapeake Energy (NYSE: CHK) announced natural gas production cuts. Shares of Patriot Coal (NYSE: PCX) rose.

A Seeking Alpha contributor listed Quicksilver Resources (NYSE: KWK) as one of five energy stocks to buy.

Hugoton Royalty Trust (NYSE: HGT) declared a cash distribution of $0.082003 per unit payable on February 14, 2012 to unit holders of record on January 31, 2012.

On the downside

Twin Disc (Nasdaq: TWIN) reported higher second quarter earnings but its order backlog dropped.

JP Morgan downgraded McMoRan Exploration (NYSE: MMR) to an Underweight rating.

Standard Register (NYSE: SR) will eliminate jobs as part of a restructuring plan and suspended its quarterly dividend.

In the broad market, advancing issues outpaced decliners by a margin of nearly 7 to 5 on the NYSE while decliners edged out advancers by nearly 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a point to 783.

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