Stocks close mixed amid lackluster trading

In company news, Nortel said it was selling all of its patents and patent applications for $900 million to Google as part of a "stalking horse" asset-sale agreement. The sale follows a multi-round bidding process.

General Electric gained after news CEO Jeffrey Immelt defended the nuclear industry's safety record on a trip to Tokyo. GE is a minority shareholder in NBC Universal, the parent company of CNBC.com.

And among other Dow components, McDonald's, meanwhile, traded flat after news the fast-food chain planned to hire 50,000 employees on April 19 as its business grows.

McCormick & Schmick skyrocketed after Tilman J. Fertitta said he intends to begin an all-cash offer to buy the seafood restaurant company through his affiliate LSRI Holdings, a subsidiary of Landry's Restaurants.

Shares of Southwest Airlines fell after news the airliner canceled 70 flights on Monday after a Boeing 737 was forced to make an emergency landing Friday because of a hole in its fuselage, and that cracks were found in the fuselages of 3 other airlines after 33 were inspected. In addition, UBS cut its rating on the airline company to "neutral" from "buy."Boeing shares also fell on the news.

And General Dynamics tumbled more than 5 percent after a weekend crash of a flight-test aircraft of its Gulfstream business jet unit killed four people.

Ford Motor shares climbed to lead the S&P gainers after Credit Suisse upgraded the automaker to "neutral" from "underperform."(Read More: Ford Topping Sales, How Will GM Respond?)

In M&A news, Pfizer rose slightly after newsKohlberg, Kravis & Roberts planned to buy the drugmaker's Capsugel unit for $2.38 billion.

And Vivus jumped after the pharmaceutical firm reported a two-year study showed Qnexa, its weight loss drug, also reduces high blood pressure.

Molycorp soared after news the rare-earth producer bought a majority stake in AS Silmet, one of two rare-earth processing companies in Europe. "In the short-term, this will greatly increase our ability to supply our products into the increasingly tight global rare earth market and provide a convenient base from which to supply European customers," said Mark Smith, president and CEO, in a statement.

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