The markets opened lower on a shortened trading day with the Dow falling 63 points to 11,123 over continued concerns about European debt. Nasdaq lost 3 points to 2539.
On the upside
Del Monte (NYSE: DLM) agreed to be acquired for approximately $4 billion in cash by private equity firms Kohlberg Kravis Roberts & Co., Vestar Capital Partners and Centerview Partners.
CPI International (Nasdaq: CPII) will be acquired by Veritas Capital in an all cash deal valued at approximately $525 million.
Mer Telemanagement Solutions (Nasdaq: MTSL) regained compliance for listing on NASDAQ by maintaining a minimum market value of at least $1,000,000 for ten consecutive business days.
On the downside
Concerns that Spain and Portugal will be next European countries to need a bailout weighed down shares of Banco Santander (NYSE: STD).
Magna International (NYSE: MGA) paid a stock dividend to shareholders in order to implement its two-fo-one stock split.
Goldman Sachs downgraded China Nepstar Chain Drugstore (NYSE: NPD) to a Sell rating.
In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 2 on the NYSE and by more than 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks slipped a point to 734.
