The markets opened lower with the Dow losing 26 points to 16,717 as the Eurozone Consumer Price Index fell in May. Nasdaq held steady at 4,237.
On the upside
After Pilgrim's Pride (Nasdaq: PPC) increased its offer for Hillshire Brands (NYSE: HSH) to top Tyson Foods' (NYSE: TSN) bid, Hillshire Brands said that it would engage in negotiations with both companies.
Spherix (Nasdaq: SPEX) completed a $20 million equity financing deal.
InterDigital (Nasdaq: IDCC) entered a multi-year patent licensing agreement with Samsung Electronics and updated its second quarter revenue guidance.
On the downside
Quicksilver (NYSE: ZQK) widened second quarter losses more than expected as revenue dropped prompting a downgrade.
Krispy Kreme Doughnuts (NYSE: KKD) reported higher first quarter earnings and revenue but the company cut its full year earnings guidance.
Shares of Clovis Oncology (Nasdaq: CLVS) continued falling after data indicated that its lung cancer treatment CO-1686 was linked to diabetes.
In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 4 on the NYSE and by 9 to 6 on Nasdaq. The broader S&P 500 eased a point to 1923. Bitcoin slipped $5.25 or 0.80% to $655.98.
