Mixed Open As Trade Deficit Narrows But Jobless Claims Rise

The markets opened mixed with the Dow slipping 8 points to 11,405 while Nasdaq added 2 points to 2551. The nation's trade deficit narrowed in July but first time applications for unemployment benefits unexpectedly rose last week.

On the upside

PerkinElmer (NYSE: PKI) will pay approximately $600 million in cash to acquire Caliper Life Sciences (Nasdaq: CALP) .

Valero Energy (NYSE: VLO) said that it may explore the possibility of acquiring Sunoco's Philadelphia and Marcus Hook, Pennsylvania refineries.

Hess (NYSE: HES) paid approximately $750 million to acquire 85,000 acres in Ohio's Utica Shale which includes the Marquette Exploration.


On the downside

Pall (NYSE: PLL) released preliminary fourth quarter earnings that fell short of analyst estimates.

Dollar General (NYSE: DG) shareholders will sell 25 million common shares.

Dendreon (Nasdaq: DNDN) will discuss restructuring plans during a conference call this afternoon.

In the broad market, declining issues outpaced advancers by a margin of more than 3 to 1 on the NYSE and by nearly 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 5 points to 703.