The markets opened lower as investors anxiously awaited the latest home sales report and this week's job report. The Dow lost 37 points to 13,328 while Nasdaq fell 10 points to 2664.
On the upside
Transmeridian Exploration (NYSE: TMY) received a $3 per share tender offer from its CEO to take the oil and natural gas company private.
Hong Kong-based jewelry manufacturer and retailer LJ International (Nasdaq: JADE) posted higher revenues and earnings late last week.
Shares of Martha Stewart Living Omnimedia (NYSE: MSO) bounced higher from its lowest levels since the summer of 2004.
On the downside
Cogent (Nasdaq: COGT) received negative coverage in the latest issue of Barron's which cited the biometrics product maker's reliance on government contracts.
Shares of Centerline Holding (NYSE: CHC) continued to lose ground after the company dumped its bond portfolio to reinvent itself as an investment manager.
Generic versions of key products rattled investors of drug developer Salix Pharmaceuticals (Nasdaq: SLXP).
In the broad market, declining issues outpaced advancers by a margin of nearly 2 to 1 on both the NYSE and Nasdaq. The Russell 2000 which tracks small cap stocks slipped 4 points to 767.