Lower Open Over Tapering Concerns

The markets opened lower with the Dow losing 22 points to 15,475 over renewed concerns that tapering of the Federal Reserve's stimulus measures would stall the economic recovery. Nasdaq eased a fraction to 3668.

On the upside

Shares of Frank's International (NYSE: FI) surged on its first trading day.

QEP Midstream Partners (NYSE: QEPM) stock climbed in its market debut.

Ubiquiti Networks (Nasdaq: UBNT) reported higher fourth quarter earnings and revenue that topped analyst estimates and forecast current quarter results ahead of expectations.

On the downside

Dendreon (Nasdaq: DNDN) narrowed second quarter losses but the results were worse than expected as revenue fell and the biotechnology firm warned that Provenge sales would be flat in 2013.

Capstone Turbine (Nasdaq: CPST) narrowed first quarter losses but revenue fell.

Molycorp (NYSE: MCP) widened second quarter losses even as revenue rose.

In the broad market, advancing issues outpaced advancers by a margin of more than 10 to 9 on both the NYSE and on Nasdaq. The broader S&P 500 eased a point to 1696.

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