Lower Open Ahead Of Earnings Season

The markets opened lower with the Dow falling 44 points to 16,367 as earnings season begins tomorrow. Nasdaq lost 6 points to 4121.

On the upside

GTCR Valor will take Vocus (Nasdaq: VOCS) private in a deal valued at approximately $446.5 million.

Questcor Pharmaceuticals (Nasdaq: QCOR) will be acquired by Mallinckrodt for a premium of approximately $5.6 billion in cash and stock.

Peregrine (Nasdaq: PPHM) reported that administering its immunotherapy agent bavituximab with stereotatic body radiation therapy improved survival in lung cancer patients by 100%.

On the downside

The Food and Drug Administration extended the Prescription Drug User Fee Act date for MannKind's (Nasdaq: MNKD) AFREZZA by three months.

Investors locked in profits on Genco Shipping & Trading (NYSE: GNK).

World Wrestling Entertainment (NYSE: WWE) reported that its WWE Network digital subscription service has grown to 667,287 subscribers but concerns arose that Pay Per View revenue would drop.

In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 3 on the NYSE and by more than 2 to 1 on Nasdaq. The broader S&P 500 lost 3 points to 1861. Bitcoin slipped $5.70 or 1.24% to $455.19.

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