The markets opened mixed with the Dow adding 7 points to 14,586 while Nasdaq lost 11 points to 3256 as investors anticipate slower expansion of the manufacturing sector.
On the upside
American Greetings (NYSE: AM) will be acquired by an entity owned by the Weiss family for a premium of $18.20 per share in cash along with a possible dividend of 15 cents per share.
Tesla Motors (Nasdaq: TSLA) expects to post its first profitable quarter in the first quarter as sales of its Model S sedan surpassed estimates.
Quicksilver Resources (NYSE: KWK) sold a 25% interest in its Barnett Shale assets to Tokyo Gas for approximately $485 million.
On the downside
Excel Maritime (NYSE: EXM) disappointed with sharply lower earnings and revenue for the second half of 2012.
DFC Global (Nasdaq: DLLR) warned that third quarter results would fall short of expectations and lowered its full year earnings outlook.
Panasonic (NYSE: PC) will voluntarily delist from the New York Stock Exchange effective April 22, 2013.
In the broad market, declining issues outpaced advancers by a margin of more than 5 to 3 on both the NYSE and on Nasdaq. The broader S&P 500 index slipped 2 points to 1566.