Slow Economic Growth Weighs Down Markets
Federal Reserve chairman commented yesterday that the nation's economic growth was slower than expected sending the markets down to a sharply lower open with the Dow plummeting 198 points to 11,911. Nasdaq tumbled 26 points to 2642.
On the upside
Bed Bath & Beyond (Nasdaq: BBBY) reported higher first quarter earnings that surpassed analyst expectations as revenue rose.
MSMB Capital Management offered a premium of $4.25 per share to acquire Seracare Life Sciences (Nasdaq: SRLS).
Pfizer (NYSE: PFE) and Bristol-Myers Squibb (NYSE: BMY) announced upbeat results from a late stage clinical trial of its stroke prevention medication Eliquis.
On the downside
GTx (Nasdaq: GTXI) priced its public offering of 10 million common shares at $4.75 per share.
Rumors swirled that Electronic Arts (Nasdaq: ERTS) was close to finalizing a deal to acquire casual gaming company PopCap for $1 billion.
Falling oil prices weighed down shares of Exxon Mobil (NYSE: XOM).
