On the upside
Ocwen Financial (NYSE: OCN) will pay approximately $750 million in cash and stock to acquire Homeward Residential Holdings.
Citigroup analyst Mark Mahaney affirmed his Buy rating on Netflix (Nasdaq: NFLX).
On the downside
Profit taking sank shares of MetroPCS (NYSE: PCS) whose stock price soared yesterday on news that the cellphone carrier would be acquired by T-Mobile parent Deutsche Telekom.
Antares Pharma (Nasdaq: ATRS) priced its public offering of 12.5 million common shares at the discounted price of $4.00 per share.
Rigel Pharmaceuticals (Nasdaq: RIGL) priced its public offering of nearly 13.7 million common shares at the discounted price of $9.50 per share.
In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 3 on the NYSE and by more than 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 3 points to 836.