The markets closed mixed with the Dow gaining 26 points to 16,743 as manufacturing activity expanded at a slower than expected pace in May. Nasdaq slipped 5 points to 4,237.
On the upside
Robert W. Baird initiated coverage of NOW (NYSE: DNOW) with a Neutral rating.
Ariad Pharmaceuticals (Nasdaq: ARIA) reported positive results from a Phase 2 study of its cancer treatment Iclusig.
Conns (Nasdaq: CONN) reported higher first quarter earnings and revenue that surpassed analyst expectations.
On the downside
Shares of NewLead Holdings (Nasdaq: NEWL) continued falling.
Puma Biotechnology (NYSE: PBYI) reported positive results from a Phase II test of its breast cancer treatment PB272 but news that GlaxoSmithKline's (NYSE: GSK) breast cancer treatment Tykerb failed a Phase III trial sent shares of Puma Biotech plummeting.
Bebe Stores (Nasdaq: BEBE) chief executive Steve Birkhold sold 140,980 shares of company stock.
In the broad market, declining issues outpaced advancers by a margin of nearly 10 to 9 on the NYSE and by nearly 3 to 2 on Nasdaq. The broader S&P 500 added a point to 1924. Bitcoin rose $14.54 or 2.22% to $654.45.
