Markets Flat Over Disappointing Regional Manufacturing Data
The markets traded flat during the midday with the Dow slipping 5 points to 10,297 due to disappointing regional manufacturing data. Nasdaq gained 11 points to 2184.
On the upside
Flir Systems (Nasdaq: FLIR) will pay approximately $274 million in cash to acquire ICx Technologies (Nasdaq: ICXT).
Shares of Allis-Chalmers Energy (NYSE: ALY) continued climbing after announcing on Friday an acquisition offer by SeaDrill valued at approximately $890 million.
Private equity firm Leonard Green & Partners will acquire Prospect Medical Holdings (Nasdaq: PZZ) in a deal valued at approximately $205 million.
On the downside
Vitacost.com (Nasdaq: VITC) disappointed by swinging to a second quarter loss. The online health products retailer also announced the resignation of chief executive Ira Kerker.
Corning (NYSE: GLW) will acquire European plastic consumable labware maker Plaslab SAS for an undisclosed sum.
Sinovac Biotech (Nasdaq: SVA) disappointed with sharply lower second quarter earnings as revenue tumbled.
In the broad market, advancing issues outpaced decliners by a margin of nearly 2 to 1 on the NYSE and by more than 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 6 points to 616.
