The markets traded flat during the midday with the Dow slipping 3 points to 12,445 despite a drop in mortgage rates as investors monitored debt proceedings in Greece. Nasdaq rose 7 points to 2718.
On the upside
BioDelivery Sciences International (Nasdaq: BDSI) granted Endo Pharmaceuticals (Nasdaq: ENDO) an exclusive world-wide license to develop, manufacture, market and sell its BEMA Buprenorphine product.
A Seeking Alpha contributor established a $105 per share price target on Molycorp (NYSE: MCP).
China GrenTech (Nasdaq: GRRF) will be taken private by Talenthome Management and Xing Sheng.
On the downside
Rumors circulated that the Federal Trade Commission will block Omnicare’s (NYSE: OCR) acquisition of PharMerica (NYSE: PMC).
Law firm Block & Leviton initiated an investigation into Health Management Associates (Nasdaq: HMA) for possible securities law violations.
Raymond James (NYSE: RJF) will acquire Morgan Keegan for approximately $930 million in stock.
In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 4 on the NYSE and by nearly 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks added a point to 768.
