Lower open even as crude oil rebounds

The markets opened lower with the Dow losing 19 points to 16,496 despite a rebound in crude oil prices. Nasdaq fell 16 points to 4,669.

On the upside

A Food and Drug Administration advisory committee recommended approval of the opioid addiction treatment Probuphine that uses Titan Pharmaceuticals’ (Nasdaq: TTNP) ProNeura continuous drug delivery system.

TheMarker reported that Check Point Software Technologies engaged in discussions to acquire CyberArk Software (Nasdaq: CYBR).

Ctrip.com (Nasdaq: CTRP) will invest in Qunar Cayman Islands (Nasdaq: QUNR) through a limited partnership capital contribution.

On the downside

Appaloosa Management filed suit to halt SunEdison (NYSE: SUNE) from acquiring some of Vivint Solar’s assets.

Supervalu (NYSE: SVU) reported sharply lower third quarter earnings as revenue slipped.

American Axle & Manufacturing Holdings (Nasdaq: AVXL) warned that 2016 revenue would fall short of analyst expectations.

In the broad market, advancing issues barely edged out decliners by a slim margin on the NYSE while decliners outpaced advancers by nearly 5 to 4 on Nasdaq. The broader S&P 500 held steady at 1,938. Bitcoin dropped $15 to $430.

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