Flat Close As Oil Prices Retreat

The markets closed flat with the Dow slipping a point to 12,981 as oil prices retreated. Nasdaq added 2 points to 2966.

On the upside

A Seeking Alpha contributor expected Discovery Laboratories' (NYSE: DSCO) Surfaxin to be approved by the Food and Drug Administration.

Cooper Tire & Rubber (NYSE: CTB) reported sharply higher fourth quarter earnings that surpassed analyst expectations by a wide margin.

Valeant Pharmaceuticals (NYSE: VRX) swung to a better than expected profit for the fourth quarter.

On the downside

MicroVision (Nasdaq: MVIS) narrowed fourth quarter losses as revenue climbed but the results fell short of expectations.

Dril-Quip (NYSE: DRQ) reported higher fourth quarter earnings but the stock price fell.

Standard Register (NYSE: SR) widened fourth quarter losses by a wide margin as revenue dropped.

In the broad market, declining issues were on par with advancers 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 fraction to 826.

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