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NEW YORK (CNNMoney)
The Dow and S&P 500 ticked up slightly, while the Nasdaq was barely in the red.
On Wednesday, the Federal Reserve rejected Citigroup's capital plan, saying it was troubled by the bank's inability to predict how much it could lose in a severe economic downturn. It banned the bank from any dividend hikes or share repurchases for the next year.
Citigroup (C, Fortune 500) shares dropped over 4% Thursday.
Citi was among 30 large banks required to submit capital plans for an annual stress tests. The Fed approved 25 plans. Citi and four other smaller banks were turned down.
Related: Fear & Greed Index backslides into fear
But Bank of America (BAC, Fortune 500) shares rose after it announced an increase in its dividend and a new stock buyback plan. The bank also unveiled a $9.5 billion settlement with the Federal Housing Finance Agency. The deal settles all litigation between Bank of America and the agency over the use of mortgage-backed securities in the run up to the housing meltdown.
On the earnings front, Lululemon (LULU) popped after the yogawear maker reported quarterly increases in revenue and net income. The stock was up over 8% mid-morning even though it also had a slide in same-store sales.
Brian Sozzi of Belus Capital Advisors, wrote that this decline for the athletic wear maker was a "once unthinkable development."
GameStop (GME, Fortune 500) shares tanked after the video game retailer missed earnings estimates and gave a lackluster outlook for the current quarter. The company was hit hard by WalMart's (WMT, Fortune 500) announcement last month that it would buy used video games, a business which is traditionally Gamestop's bread and butter.
Accenture (ACN) dropped about 7% after reporting a decline in quarterly net income. The technology services company was recently hired to work on the Obamacare website.
BlackBerry (BBRY) was downgraded to a "sell" by an analyst at Société Générale. Shares slumped on the news. The stock has had a rough go of it in recent years, but has rallied around 20% this year on hopes of a turnaround. The company will report its latest quarterly results on Friday morning.
King Digital Entertainment (KING) shares dipped again. The maker of online game Candy Crush Saga took a beating in its initial public offering on Wednesday. Despite an IPO price of $22.50, the stock is trading under $19.
Related: CNNMoney's Tech 30
European markets were mostly lower in afternoon trading. The International Monetary Fund said it was throwing Ukraine an $18 billion lifeline.
Asian markets ended with mixed results. Shares in tech company Tencent (TCEHY), a popular Asian internet portal, fell by nearly 6% in Hong Kong. Investors and traders have been growing concerned that valuations have become too rich in the Asian tech sector ... much like investors in the U.S. have regarding the likes of Facebook (FB, Fortune 500) and Twitter (TWTR). 
First Published: March 27, 2014: 9:55 AM ET
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