Lower Open As New Home Sales Slip
A drop in October new home sales sent the markets tumbling to a lower open with the Dow dropping 87 points to 12,790. Nasdaq fell 23 points to 2944.
On the upside
Getco offered a premium of $3.50 per share to acquire Knight Capital (NYSE: KCG).
Green Mountain Coffee Roasters (Nasdaq: GMCR) impressed with sharply higher fourth quarter earnings that surpassed analyst expectations by a wide margin prompting the company to lift its 2013 full year earnings guidance.
J.C. Penney (NYSE: JCP) launched its Holiday Giving Tour to perform special acts of kindness each day in twelve cities across the nation.
On the downside
Investors locked in profits on Acadia Pharmaceuticals (Nasdaq: ACAD), whose stock price soared on upbeat trial results for its Parkinson's disease psychosis treatment pimavanserin.
The Fresh Market (Nasdaq: TFM) reported higher third quarter earnings but the results fell short of analyst expectations.
First quarter earnings plunged for Guidewire Software (NYSE: GWRE) despite higher revenue as expenses soared.
In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 2 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks fell 9 points to 798.
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