The markets opened flat with the Dow slipping 2 points to 17,036 after Federal Reserve chair Janet Yellen said that the job market continued to challenged. Nasdaq added 5 points to 4537.

On the upside

Murata Electronics will acquire Peregrine Semiconductor (Nasdaq: PSMI) in an all cash transaction valued at approximately $471 million.

Dynegy (NYSE: DYN) will pay $6.25 billion to acquire coal and gas assets from Duke Energy and Energy Capital Partners.

Second quarter earnings more than doubled for GameStop (NYSE: GME) to beat expectations as revenue soared.

On the downside

Aeropostale (NYSE: ARO) widened second quarter losses more than expected as revenue fell and the company forecast current quarter earnings below analyst estimates.

Second quarter earnings slipped for Ann (NYSE: ANN) prompting the women's apparel retailer to lower its 2015 revenue outlook.

58.com (NYSE: WUBA) appointed Tencent senior executive vice president Xiaoguang Wu as a director.

In the broad market, declining issues outpaced advancers by a margin of more than 5 to 7 on the NYSE and by 10 to 9 on Nasdaq. The broader S&P 500 held steady at 1992. Bitcoin slipped $2 to $516.