French Banks May Be Downgraded, Markets Open Lower

Concerns that French banks may be downgraded weighed the markets down to a lower open with the Dow falling 73 points to 10,918. Nasdaq lost 4 points to 2463.

On the upside

European oil field services firm Technip will pay approximately $937 million in cash to acquire Global Industries (Nasdaq: GLBL).

Broadcom (Nasdaq: BRCM) will acquire NetLogic Micrsystems (Nasdaq: NETL) for approximately $3.7 billion.

A Motley Fool article on Friday suggested that ReneSola (NYSE: SOL) may be a good investment.

On the downside

According to The Wall Street Journal, the Federal Reserve may be investigating Capital One Financial's (NYSE: COF) proposed acquisition of ING Groep (NYSE: ING).

Tenet Healthcare (NYSE: THC) warned that 2011 earnings will be at the low end of its guidance due to lower Medicaid reimbursements.

Questcor Pharmaceuticals (Nasdaq: QCOR) reported flat sequential sales of Acthar to treat nephrotic syndrome and infantile spasms.

In the broad market, declining issues outpaced advancers by a margin of more than 3 to 1 on the NYSE and by more than 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a point to 672.