The markets opened mixed with the Dow falling 53 points to 17,760 as December existing home sales rose but total sales for 2014 fell. Nasdaq added 2 points to 4,753.
On the upside
Array BioPharma (Nasdaq: ARRY) will acquire the worldwide rights to encorafenib from Novartis.
Infinera (Nasdaq: INFN) swung to a better than expected profit for the fourth quarter as revenue rose.
SFX Entertainment (Nasdaq: SFXE) and Viggle (Nasdaq: VGGL) agreed to combine their sales team for three years.
On the downside
Profit taking weighed down shares of FXCM (NYSE: FXCM).
LeapFrog (NYSE: LF) warned of losses for the third quarter as revenue fell far short of expectations prompting a downgrade.
United Parcel Service (NYSE: UPS) reported preliminary fourth quarter earnings that missed its previous guidance.
In the broad market, declining issues outpaced advancers by a margin of more than 9 to 7 on the NYSE and by nearly 9 to 7 on Nasdaq. The broader S&P 500 lost 4 points to 2058. Bitcoin added $1 to $230.
Mixed open on home sales data
January 23, 2015 at 09:42 AM EST
