Higher Open Ahead Of Fed's Announcement
The markets opened higher with the Dow rising 14 points to 13,347 ahead of the Federal Reserve's decision to possibly support another round of stimulus measures. Nasdaq added 2 points to 3116.
On the upside
Equinix (Nasdaq: EQIX) will convert to a real estate investment trust by January 1, 2015.
Vical (Nasdaq: VICL) licensed its DNA immunization technology and Vaxfectin adjuvant to Bristol-Myers Squibb.
Fourth quarter earnings slipped for Pall (NYSE: PLL) but the results surpassed analyst expectations and the company forecast 2013 results ahead of estimates.
On the downside
Pluristem Therapeutics (Nasdaq: PSTI) priced its public offering of 8 million units. Halcon Resources (NYSE: HK) announced the pricing of a secondary offering of 35 million common shares at the discounted price $7.00 per share.
FirstMerit (Nasdaq: FMER) will acquire Citizens Republic Bancorp (Nasdaq: CRBC) in a stock transaction valued at approximately $912 million.
In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 4 on the NYSE and by nearly 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a fraction to 844.
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