U.S. Stocks Cling to Mixed Trade After Lackluster Trading Session

4:11 PM, Mar 14, 2012 -- Stocks took a breather Wednesday, following Tuesday's rally as markets digested the stress tests on U.S. banks and the absence of any crucial economic data resulted in a range bound session.

U.S. stocks started the trading day mixed, and on the approach to the closing bell were clinging to minuscule gains.

Without any significant economic data on today's calendar, the big news was the result of the U.S. banks' stress tests. Late Tuesday, the Federal Reserve released results of its stress tests, which were largely positive for U.S. institutions, with the exception of Citigroup (C) and SunTrust Banks Inc. (STI) which failed according to the capital they have set aside; whereas MetLife Inc. (MET) failed the "total capital ratio" test.

In company news, LSI Logic (LSI) shares set a new 52-week high after the company raised its Q1 guidance. The semiconductor company is now expecting non-GAAP EPS of $0.12 to $0.16 on revenues of $585 mln to $615 mln. It was previously forecasting revenue of $550 mln.

MetLife (MET) shares slid after the company confirmed that it failed the Federal Reserve's stress test. In a statement addressing the Fed's stance, MetLife said the company is "financially strong and well positioned for both the current environment and potential further economic downturn."

Commodities were mostly lower. Crude-oil futures closed down after a mildly positive inventories report helped prices; but a higher dollar won out, and crude for April delivery lost $1.28, to end at $105.43 a barrel, oil's lowest settlement since mid February. Gold for April delivery dropped $51.30, or 3%, to settle at $1,642.90 an ounce on the Comex division of the New York Mercantile Exchange, an eight-week low. That was gold's lowest settlement since Jan. 13.

Here's where the markets stood at end-of-day:

Dow Jones Industrial Average up 16.42 (+0.12%) to 12,194.10

S&P 500 declines 1.67 (-0.12%) to 1,394.28

NASDAQ Composite Index up 0.85 (+0.03%) to 3,040.73

GLOBAL SENTIMENT

Nikkei 225 up 1.53%.

Hang Seng Index down 0.15%.

China Shanghai Composite Index down 2.63%.

FTSE 100 unchanged 0.00%.


UPSIDE MOVERS

(+) BTH, Q4 Sales Rise 23%; Sees Fy12 Adjusted EPS of $5 to $5.25

(+) CLF, More than Doubles Quarterly Dividend

(+) ECYT, Will Submit Marketing Authorization Applications for EC145 and EC20

DOWNSIDE MOVERS

(-) LNG, Increases Upcoming Offering from 17 Million to 21 Million Shares

(-) RAVN, Giving back Tuesday's Fain Following Q4 Profit Increase

(-) PNSN, Reports Q4 Loss