The markets recovered earlier losses in late afternoon trading but still closed lower with the Dow falling 39 points to 11,052 as investors kepy a wary eye on European debt. Nasdaq lost 9 points to 2525.
On the upside
GlaxoSmithKline (NYSE: GSK) will pay approximately $129.4 million to acquire 5.75 million common shares of Theravance (Nasdaq: THRX).
Shares of The Governor and Company of The Bank of Ireland (NYSE: IRE) surged after the European Union and the International Monetary Fund announced an 85 billion euro bailout package for Ireland.
MLV Capital initiated coverage of Aeterna Zentaris (Nasdaq: AEZS) with a Buy rating.
On the downside
Several lawsuits have been filed against Hewlett-Packard (NYSE: HPQ) by shareholders over the company's handling of the investigation and ouster of former chief executive Mark Hurd.
Gushan Environmental Energy (NYSE: GU) widened third quarter losses as revenue tumbled.
Shares of Jinko Solar (NYSE: JKS) and Renesola (NYSE: SOL) fell after the Finanical Times reported that Germany is exploring solar feed-in tariff cuts.
In the broad market, declining issues outpaced advancers by a margin of 7 to 5 on the NYSE and by nearly 5 to 4 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a fraction to 731.
