The markets closed flat with the Dow adding 8 points to 15,303 over concerns that the Federal Reserve would taper down its bond buying program. Nasdaq held steady at 3459.

On the upside

ZIOPHARM Oncology (Nasdaq: ZIOP) will present at the 38th Annual Deutsche Bank Health Care Conference on Wednesday, May 29, 2013.

The Wall Street Journal reported that Valeant Pharmaceuticals (NYSE: VRX) was close to finalizing a deal to acquire Bausch & Lomb for approximately $9 billion.

Quicksilver Resources (NYSE: KWK) commenced a tender offer yesterday for senior subordinated notes and senior notes.

On the downside

GameStop (NYSE: GME) reported lower first quarter earnings and revenue and forecast second quarter earnings below expectations.

Aeropostale (NYSE: ARO) fell to a loss for the first quarter on lower revenue and forecast current quarter losses below analyst estimates.

Footlocker (NYSE: FL) reported higher first quarter earnings and revenue but the stock price fell.

In the broad market, declining issues outpaced advancers by a margin of 7 to 5 on the NYSE and by 10 to 9 on Nasdaq. The broader S&P 500 index eased a fraction to 1649.