Lower Open As Violence Escalates In Libya
Escalating violence in Libya weighed the markets down to a lower open with the Dow losing 57 points to 12,334. Nasdaq dropped 31 points to 2802.
On the upside
Mentor Graphics (Nasdaq: MENT) received an all cash offer valued at approximately $1.9 billion from activist investor Carl Icahn.
Bristish chip maker CSR will pay a premium of approximately $679 million in stock to acquire digital solutions firm Zoran (Nasdaq: ZRAN).
FONAR (Nasdaq: FONR) reversed year ago losses to post a profit for the second quarter.
On the downside
The Food and Drug Administration issued a refusal to file letter to Delcath Systems (Nasdaq: DCTH) for the New Drug Application submitted for its metastatic melanoma in the liver treatment.
Forest Laboratories (NYSE: FRX) will acquire Clinical Data (Nasdaq: CLDA) for the discounted price of approximately $1.2 billion.Airliners raised ticket prices sending the stock prices of American Airlines parent AMR (NYSE: AMR), United Continental Holdings (NYSE: UAL), Delta Airlines (NYSE: DAL) and US Airways Group (NYSE: LCC) lower.
In the broad market, declining issues outpaced advancers by a margin of more than 3 to 1 on the NYSE and by nearly 7 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks fell 6 points to 828.
