Opening Bell Report

The markets opened lower on worries over sluggish retail sales. The Dow lost 73 points to 13,226 while Nasdaq tumbled 32 points to 2716.

On the upside

Private equity firm Catterton Partners offered $267 million to buy specialty home furnishings retailer Restoration Hardware (Nasdaq: RSTO).

Solar modules maker First Solar (Nasdaq: FSLR) posted revenues that tripled and a 3rd quarter profit handily beating expectations.

True Religion Apparel (Nasdaq: TRLG) reported higher sales on strong demand for its premium denim and apparel products at its new store openings.

On the downside

Anglo-Australian mining giant BHP Billiton (NYSE: BHP) offered $110 billion to take over Rio Tinto, but was initially rebuffed.

Cisco Systems (Nasdaq: CSCO) reported higher earning and revenues, but analysts downgraded the networking equipment bellwether due to its exposure to financial services firms that may cut back in capital spending.

Sotheby's (NYSE: BID) completed an auction with numerous pieces of artwork left unsold. Analysts slashed their guidance for the company as disappointed investors sold off on the stock.

In the broad market, advancing issues outpaced decliners by a slim margin on both the NYSE and Nasdaq. The Russell 2000 which tracks small cap stocks fell 2 points to 773.

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