The markets opened mixed with the Dow losing 31 points to 17,184 while Nasdaq added 5 points to 4,892 as investors welcomed corporate consolidations but monitored falling crude oil prices.
On the upside
Oprah Winfrey acquired a 10% stake in Weight Watchers International (NYSE: WTW) for approximately $43.2 million.
Microsemi (Nasdaq: MSCC) offered a premium of approximately $2.2 billion in cash and stock to acquire PMC-Sierra (Nasdaq: PMCS) topping a $2 billion bid by Skyworks Solutions (Nasdaq: SWKS).
Campus Crest Communities (NYSE: CCG) will be acquired by Harrison Street Real Estate Capital in deal valued at approximately $1.9 billion.
On the downside
Morgan Stanley (NYSE: MS) disappointed with sharply lower that fell far short of analyst expectations.
Genocea Biosciences (Nasdaq: GNCA) reported disappointing results from a Phase 2a clinical trial of its pneumococcus vaccine GEN-004.
Third quarter earnings for Valeant Pharmaceuticals (NYSE: VRX) tumbled.
In the broad market, declining issues outpaced advancers by a margin of nearly 2 to 1 on the NYSE and by more than 7 to 5 on Nasdaq. The broader S&P 500 fell 9 points to 2,023. Bitcoin added $2 to $262.
