It was a mixed close for the markets with the Dow gaining 37 points to 12,959 as investors mulled the implications of China’s greatest trade deficit in nearly a decade. Nasdaq lost 4 points to 2983.

On the upside

Rodman & Renshaw upgraded BPZ Resources (NYSE: BPZ) to a Market Outperform rating. 

Investor’s Business Daily listed InvenSense (Nasdaq: INVN) as one of five top companies expected to report higher earnings.

UnionBanCal will pay approximately $1.51 billion to acquire Pacific Capital Bancorp (Nasdaq: PCBC).

On the downside

McEwen Mining (NYSE: MUX) amended its Bylaws and revised its Indemnification Agreement.   

B. Riley downgraded 8×8 (Nasdaq: EGHT) from a rating of Buy to Neutral. 

Tidewater’s (NYSE: TDW) joint venture with Angolan oil company Sonangol will be unable to secure new charters or charter extensions until negotiations have been resolved.

In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 4 on the NYSE and by more than 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks slipped 2 points to 814.