Stocks Push Back After Opening Higher, Nasdaq Erases Gains

Major U.S. markets fluctuated in midday trading Monday after opening higher. Stocks scaled back and the Nasdaq erased gains entirely. Sunesis Pharmaceuticals (SNSS ) is down 70% in the session after the drug developer said its cancer treatment missed its main goal in late-stage testing. H&R Block (HRB) is being punished after the company said the sale of its bank will not be completed this year. The NBA has new media deals to broadcast its games. ESPN, owned by Disney (DIS) and Time Warner's Turner Sports (TWX) will continue to show NBA games for the next nine years. Shares of both stocks don't seem moved by this expected announcement.