August 15, 2013 at 10:48 AM EDT
Lower Open Over Fed Tapering Concerns

The markets opened sharply lower with the Dow plummeting 174 points to 15,163 despite a rise in homebuilder confidence as investors fretted over the impending Federal Reserve tapering. Nasdaq plunged 48 points to 3621.

On the upside

Maxim Integrated Products will acquire Volterra Semiconductor (Nasdaq: VLTR) in a deal valued at approximately $605 million.

Lazard Capital analyst William Tanner lifted his price target on Novavax (NYSE: NVAX).

Biolase (Nasdaq: CCCR) lowered its offering from $30 million to $5 million.


On the downside


Himax Technologies (Nasdaq: HIMX) reported higher second quarter earnings but revenue fell short of expectations and the company forecast current quarter revenue below estimates.


Renren (NYSE: RENN) narrowed losses for the second quarter but revenue growth slowed.

Profit taking sank shares of MannKind (Nasdaq: MNKD).

In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 1 on the NYSE and by more than 4 to 1 on Nasdaq. The broader S&P 500 dropped 19 points to 1666.

Stock Market XML and JSON Data API provided by FinancialContent Services, Inc.
Nasdaq quotes delayed at least 15 minutes, all others at least 20 minutes.
Markets are closed on certain holidays. Stock Market Holiday List
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
Press Release Service provided by PRConnect.
Stock quotes supplied by Six Financial
Postage Rates Bots go here