Markets Open Lower As Investors Pause

August 18, 2010 6:46 AM | Permalink

The markets opened lower with the Dow losing 33 points to 10,372 with no economic data motivating investors to buy. Nasdaq edged up a fraction to 2209.

On the upside

Phoenix Technologies (Nasdaq: PTEC) will be acquired by Marlin Equity Partners for approximately $139 million.

The Food and Drug Administration granted BSD Medical (Nasdaq: BSDM) approval to market its MicroThermX Microwave Ablation System soft tissue ablation device.

Second quarter earnings for Chico's FAS (NYSE: CHS) more than doubled to top estimates as revenue rose.

On the downside

Longbow downgraded Safeway (NYSE: SWY).

PennantPark Investment (Nasdaq: PNNT) priced its public offering of 4 million common shares at $10.15 per share.

Morgan Keegan analyst Justin Patterson downgraded Netflix (Nasdaq: NFLX) to an Underperform rating citing concerns about streaming content costs.

In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 2 on the NYSE and by more than 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks fell 5 points to 621.

This page contains a single entry by published on August 18, 2010 6:46 AM.

Investors Embrace Upbeat Economic Data To Lift Markets To Higher Close was the previous entry in this blog.

Falling Oil Prices Lift Markets Modestly Higher At Midday is the next entry in this blog.

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Markets Open Lower As Investors Pause

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