Flat Open Over Earnings

The markets opened flat with the Dow slipping 3 points to 15,540 while Nasdaq added 4 points to 3592 as investors monitored earnings news.

On the upside

Google acquired a 6.3% stake in Himax Technologies (Nasdaq: HIMX) subsidiary Himax Display, which makes chips for the Google Glass.

BioCryst Pharmaceuticals (Nasdaq: BCRX) reported positive results from a Phase I clinical trial of its hereditary angioedema treatment BCX4161.

PetMed Express (Nasdaq: PETS) reported higher first quarter earnings that topped analyst expectations.

On the downside

Second quarter earnings rose for McDonald's (NYSE: MCD) but the results fell short of analyst expectations and warned of a challenging year.

Yahoo (Nasdaq: YHOO) director Daniel Loeb of Third Point resigned his position.

Profit taking sank shares of Celsion (Nasdaq: CLSN).

In the broad market, advancing issues outpaced decliners by a margin of 9 to 7 on the NYSE while decliners edged out advancers by by a slim margin on Nasdaq. The broader S&P 500 index held steady at 1692.

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