Durable goods orders rose less than expected in December to weigh the markets down to a lower open with the Dow losing 55 points to 12,341. Nasdaq fell 21 points to 2627.
On the upside
TiVo (Nasdaq: TIVO) will receive $215 million from AT&T (NYSE: T) to settle a patent infringement suit.
Goldman Sachs analyst Michelle Tan added Lululemon Athletica (Nasdaq: LULU) to the company's conviction buy list.
The Paragon Report said that oil companies with little or no exposure to the Middle East such as Hyperdynamics (NYSE: HDY) will benefit from higher oil prices.
On the downside
Acme Packet (Nasdaq: APKT) forecast fourth quarter results below analyst estimates and cut its full year guidance citing uncertainty in the North American service provider market.
Private investment funds will sell more than 21 million shares of Ventas (NYSE: VTR) common stock.
Amarin (Nasdaq: AMRN) priced its offering of $150 million in exchangeable senior notes at an initial exchange price of approximately $8.81 per American Depositary Share.
In the broad market, declining issues outpaced advancers by a margin of more than 2 to 1 on the NYSE and by 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 7 points to 745.
