Markets Open Mixed As Foreclosures Leap
The markets opened mixed with the Dow losing 19 points to 11,103 while Nasdaq added 2 points to 2507 as home foreclosures leaped 35% in the first quarter.
On the upside
Apache (NYSE: APA) will pay approximately $2.7 billion to acquire Mariner Energy (NYSE: ME).
Anadys Pharmaceuticals (Nasdaq: ANDS) reported positive results from a clinical study of its hepatitis C treatment ANA598.
Dynavax Technologies (Nasdaq: DVAX) reported upbeat results from a midstage clinical trial of its hepatitis B vaccine.
On the downside
Santarus (Nasdaq: SNTS) lost a patent infringement lawsuit filed against Par Pharmaceuticals (NYSE: PAR).
Credit Suisse downgraded Melco Crown Entertainment (Nasdaq: MPEL).
MGM Mirage (NYSE: MGM) warned of greater than expected losses for the first quarter.
In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 3 on the NYSE and by more than 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks lost a point to 721.
