Investors Mull Tapering Stimulus, Markets Slip

The markets failed to gain traction in a choppy trading session with the Dow slipping 8 points to 14,750 as investors continued debating the economic impact of tapering stimulus measures. Nasdaq fell 21 points to 3343.

On the upside

Daily Mail reported that GlaxoSmithKline (NYSE: GSK) was rumored to be exploring a possible $55 per share offer to acquire Theravance (Nasdaq: THRX).

Synta Pharma (Nasdaq: SNTA) director Bruce Kovner purchased 200,000 shares of company stock.

Apollo Global Management will sell 6.5 million common shares of Rexnord (NYSE: RXN) stock at $16.00 per share.

On the downside

A Seeking Alpha contributor wrote that Ebix (Nasdaq: EBIX) stock was worth at most $8 per share.

A Seeking Alpha article suggested that Uni-Pixel (Nasdaq: UNXL) may be under investigation by the Securities and Exchange Commission.

A Seeking Alpha contributor expects Kandi Technologies (Nasdaq: KNDI) stock to drop down to between $4.00 to $5.00.

In the broad market, declining issues outpaced advancers by a margin of nearly 9 to 10 on the NYSE while advancers edged out decliners by more than 10 to 9 on Nasdaq. The broader S&P 500 index added 2 points to 1590.

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