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Flat Close As Greek Talks Continue
Posted on January 23, 2012 at 17:03 PM EST
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. Related Stocks:
Chesapeake Energy Corp.
Dow Jones Industrial Average (EOD)
Hugoton Royalty Trust Un
McMoRan Exploration Co.
NASDAQ 100
NASDAQ Composite
Patriot Coal Corporation
Quicksilver Resources, Inc.
Russell 1000 Index
Russell 2000
Russell 3000 Index
Standard & Poors 500
Standard Register Co.
Twin Disc, Incorporated
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