* J.C. Penney jumps after Citi upgrade
* Urban Outfitters tumbles after warning
* Myriad Genetics falls after court motion denied
* Indexes up: Dow 0.09 pct, S&P 0.1 pct, Nasdaq 0.3 pct
By Chuck Mikolajczak
NEW YORK, March 11 U.S. stocks were little
changed on Tuesday as investors found few reasons to push the
S&P 500 above its recent record high, as tensions in Ukraine
Despite setting a record high on March 7, the S&P 500 has
been range-bound over the last few sessions, amid a dearth of
corporate earnings or data-related incentives to push equities
"The market has growing pains here, and rightfully so," said
Peter Cardillo, chief market economist at Rockwell Global
Capital in New York.
"Basically we are at high levels, there are a lot of
warnings out there, a lot of signs the market may be topping
Investors were also wary in light of events in Ukraine. A
pro-Russian force opened fire in seizing a Ukrainian military
base in Crimea on Monday and NATO announced reconnaissance
flights along its eastern frontiers as confrontation around the
Black Sea peninsula showed no sign of easing.
On Tuesday, ousted leader Viktor Yanukovich insisted he
remained Ukraine's legitimate president and commander-in-chief,
saying he would return to Kiev and appealing to the armed forces
to defy any "criminal orders" handed down by his foes.
The Dow Jones industrial average rose 15.42 points,
or 0.09 percent, to 16,434.1, the S&P 500 gained 1.91
points, or 0.1 percent, to 1,879.08 and the Nasdaq Composite
added 12.958 points, or 0.3 percent, to 4,347.405.
U.S. wholesale inventories rose 0.6 percent in January, more
than the 0.4 percent expected, as companies built up stocks of
autos and machinery, though sales posted their largest decline
in nearly five years.
J.C. Penney Co Inc jumped 8.3 percent to $9.12
after Citigroup raised the stock to a "buy" and boosted its
price target to $11 per share.
Urban Outfitters Inc dropped 5 percent to $35.63 as
the worst performer on the S&P 500 after it reported
lower-than-expected quarterly sales, citing winter weather, and
said it was "very cautious" on its current-quarter performance.
The S&P retail index slipped 0.1 percent.
American Eagle Outfitters Inc slumped 6 percent to
$13.36 after the teen apparel retailer reported fourth-quarter
earnings and forecast earnings for the current quarter that were
short of expectations.
Dick's Sporting Goods Inc advanced 2 percent to
$55.40 after the company posted fourth-quarter earnings and gave
its first-quarter outlook.
Myriad Genetics Inc lost 9.4 percent to $34.19
after the diagnostics company said a U.S. court denied a motion
that would have stopped rival Ambry Genetics Corp from selling a
similar version of Myriad's cancer test.
La Jolla Pharmaceutical Co surged 61 percent to
$17.55 after the company said its lead experimental drug to
treat chronic kidney disease met the main goal of improving
kidney function in a mid-stage study.