Stocks Wobble at the Flat Line

Updated from 12:23 p.m. EDT

After opening higher, U.S. stocks cautiously meandered about the baseline Monday as investors kept an eye on unusual moves from a couple of big-time pharmaceutical companies, an increase in oil prices and bearish forward-looking indicators from the Conference Board.

The Dow Jones Industrial Average was losing 15 points at 11,481, and the S&P 500 lost about half a point to 1261. The Nasdaq shed 2 points to 2281.

Providing a drag for the major indices, Merck (MRK Quote) and Schering-Plough (SGP Quote), originally slated to report Monday morning, delayed their statements until after the market close to provide an update from a study on their joint venture drug, Vytorin. ...