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From Briefing.com: 4:15 pm : The major averages ended the day on a mixed note. The S&P 500 ended lower by 0.1% while Nasdaq added 0.1%.

Although the broader market ended little changed, that did not serve as an accurate portrayal of the day's developments.

The S&P 500 began the session lower by 0.8% as European worries remained at the forefront. The future of the eurozone hangs in the balance with market participants speculating whether or not the European Union will copy the Cypriot playbook next time a troubled nation is in need of emergency assistance.

Further, Italy appears to be headed for another round of elections after Pier Luigi Bersani was unable to form a coalition government. In addition, the Bank of England warned that British banks face a GBP25 billion capital shortfall. Lastly, both France and the United Kingdom reported a 0.3% GDP contraction in their final fourth quarter readings.

The mounting worries resulted in cautious European trade, which saw a safety bid push the German 10-yr yield lower by eight basis points to 1.27%.

In the U.S., bank stocks reflected the uncertainty surrounding the eurozone. While most sectors ended the session well off their lows, banks settled near the bottom of today's range. The SPDR Financial Select Sector ETF (XLF 18.16, -0.09) ended lower by 0.5% and JPMorgan Chase (JPM 47.77, -0.87) was the weakest performer among the majors. Shares of JPMorgan fell 1.8% to close below their 50-day moving average.

Elsewhere, the technology sector trailed behind the broader market, largely due to the underperformance of Apple (AAPL 452.08, -9.06). The largest tech stock sold off throughout the day, and settled lower by 2.0%.

Although Apple weighed on technology, the remainder of the sector displayed some relative strength. Microprocessor manufacturers outperformed and the PHLX Semiconductor Index, which tracks 30 chipmakers, ended with a slim gain of 0.1%.

On the upside, defensively-oriented health care and utilities ended with modest gains. In addition, the energy sector climbed steadily off its opening lows and the SPDR Energy Select Sector ETF (XLE 79.54, +0.26) ended higher by 0.3%.

Even though the broader market ended little changed, a different story was told by currencies and Treasuries.

In the foreign exchange market, the U.S. dollar index climbed in early trade, and held near its highs for the duration of the day. The index ended higher by 0.4% at 83.23. Today's strength was due in large part to weakness in the euro which fell to 1.2770 against the greenback, its lowest level since November.

Meanwhile, the Treasury complex saw an overnight bid which continued into the morning, pushing the 10-yr yield lower by six basis points to 1.85%.

Volume outpaced yesterday's second-lowest total of the year, but today's tally of 596 million remained well below average.

Pending home sales for February fell 0.4%, which was worse than the 2.0% increase forecast by the Briefing.com consensus. Today's reading followed last month's revised drop of 3.8%.

Tomorrow, weekly initial and continuing claims will be reported at 8:30 ET. In addition, the third estimate of fourth quarter GDP and GDP deflator will also be announced at 8:30. Lastly, March Chicago PMI will be released at 9:45 ET.

The U.S. Treasury will auction off $29 billion in 7-yr notes.DJ30 -33.49 NASDAQ +4.04 SP500 -0.92 NASDAQ Adv/Vol/Dec 1158/1.37 bln/1261 NYSE Adv/Vol/Dec 1588/596.3 mln/1407

3:30 pm :

May crude oil erased overnight losses and rose for a fourth consecutive session despite a higher-than-anticipated build in inventories and a stronger dollar index. The energy component dipped to a session low of $95.59 per barrel in early morning floor trade but pushed into positive territory in afternoon action. It settled 0.4% higher at $96.62 per barrel, slightly below its session high of $96.84 per barrel.
May natural gas extended yesterday's gains as it traded above the $4.00 per MBMtu level for its entire pit session. It brushed a session high of $4.10 per MMBtu in afternoon action and settled at $4.07 per MBMtu, or 2.0% higher.
Apr gold trended higher during today's pit trade on weak European business and consumer survey data. The yellow metal lifted off its session low of $1595.20 per ounce and touched a session high of $1607.20 per ounce in mid-morning action. It settled 0.7% higher at $1606.60 per ounce.
May silver spent its entire floor session in the red but managed to erase most of its earlier losses. Despite falling to a session low of $28.08 per ounce as equity markets opened, it climbed higher and settled with a slight 0.1% loss at $28.62 per ounce.

6:34PM TranSwitch announces proposed public offering of common stock and warrants, size not disclosed (TXCC) 0.53 +0.02 : Co announced that it is offering to sell shares of its common stock and warrants to purchase common stock in an underwritten public offering. Maxim Group LLC is acting as the sole manager for the offering. TranSwitch intends to use the net proceeds from the offering for product development, general corporate purposes and working capital.

5:42PM Power Integrations reports appeals decision in patent litigation with Fairchild Semiconductor: court affirms finding of infringement against Fairchild (POWI) 42.73 -0.15 : Co announced a decision from a federal appeals court regarding the company's 2004 patent-infringement lawsuit against Fairchild Semiconductor (FCS). In 2006, Fairchild was found to infringe several Power Integrations patents, resulting in a permanent injunction against more than 100 infringing Fairchild products. The U.S. Court of Appeals yesterday affirmed Fairchild's infringement of Power Integrations' intellectual property rights, supporting the basis for the permanent injunction. The appeals court also identified certain aspects of the case for reconsideration by the district court, including issues surrounding financial damages.

3:05PM Fairchild Semi reports favorable results in lawsuit appeal against Power Integrations (POWI) (FCS) 14.05 +0.05 : Co reported that a federal appeals court vacated almost all of a $12.9 million damages award against the company in its long-running patent litigation against Power Integrations. The appeals court instructed the lower court to conduct further proceedings to determine damages from conduct that Fairchild always agreed occurred, which consisted of approximately $500,000 to $750,000 worth of sales and imports of affected products. Fairchild believes Power Integrations would be entitled to a reasonable royalty on the basis of these direct U.S. sales. Fairchild suspended sales of affected products in the United States in 2007 and offers replacement products that were not accused in the lawsuit. Fairchild and Power Integrations are involved in four other patent lawsuits, including cases in Delaware, California and China.

Sierra Wireless (SWIR) announced a sponsorship program with MedStartr. Sierra Wireless is the preferred provider of wireless communications technology for MedStartr companies.

Marvell (MRVL) announced its ARMADA 1500 Series SoC platform is powering MiiPC, a new concept in Android PCs for families from ZeroDesktop.

Broadcom (BRCM) announced that Indian telecom operator, Idea Cellular, has chosen the BCM21654G for use in its Idea Ivory Android-based smartphone.

6:01AM Spreadtrum Comms announces strategic partnership with Orange (FTE) (SPRD) 19.65 : Co announced that Orange (FTE) has established a strategic partnership with Spreadtrum to use its low-cost mobile platforms for the delivery of a broad portfolio of cost-effective, feature-rich mobile handsets and smartphones to consumers in Orange's European and African markets.

09:26 am Western Digital initiated with a Outperform at RBC Capital Mkts; tgt $55: . RBC Capital Mkts initiates WDC with a Outperform and target of $55. RBC's positive bias is driven by its belief that WDC should be able to sustain its historically superior execution going forward. Assuming the company can achieve its historical 20% multiple premium, relative to STX, it should drive its NTM P/E valuation to 8x (vs. 7x for STX).

Peregrine Semi (PSMI) announced that it has filed a new lawsuit in U.S. District Court alleging the infringement of Peregrine patented intellectual property relating to RFICs and switching technology by RF Micro Devices, Inc. (RFMD). The suit filed in U.S. District Court for the Southern District of California claims that certain RFMD products infringe a newly issued Peregrine patent relating to silicon-on-insulator technology for RFICs. Peregrine seeks, in addition to damages, to permanently enjoin RFMD from further infringement. This new legal action is in addition to an existing lawsuit filed against RFMD in February 2012 and currently pending in U.S. District Court. The new patent, U.S. Patent 8,405,147, concerns Peregrine's HaRP invention that significantly improves the linearity and circuit performance of RF SOI devices. Peregrine believes the HaRP invention is instrumental for RF SOI devices to successfully meet the demanding RF requirements of advanced mobile wireless applications such as 4G LTE.