The markets opened lower with the Dow falling 63 points to 16,370 after OPEC cut its oil production forecast for non-member states. Nasdaq lost 16 points to 4,806.
On the upside
Vista Equity Partners will pay a premium of approximately $3.74 billion in cash to acquire Solera Holdings (NYSE: SLH).
Apple (Nasdaq: AAPL) said that new iPhone sales would surpass last year’s first weekend record of 10 billion units.
Bargain hunters lifted shares of GoPro (Nasdaq: GPRO).
On the downside
Raptor Pharmaceuticals (Nasdaq: RPTP) reported disappointing results from a Phase 2b CyNCh study of RP103 in children with biopsy-confirmed nonalcoholic steatohepatits.
Cowen & Co. downgraded TimkenSteel (NYSE: TMST) from an Outperform rating to a Market Perform rating and slashed its price target from $28 to $12.
Barron’s weekend cover story said that Alibaba (NYSE: BABA) would likely drop an additional 50%.
In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 2 on the NYSE and by 5 to 3 on Nasdaq. The broader S&P 500 fell 8 points to 1,952. Bitcoin added $1 to $229.
