The Bank of China raised an interest rate to tame inflation sending U. S. markets down to a lower open with the Dow losing 27 points to 11,545. Nasdaq dropped 12 points to 2652.
On the upside
Repros Therapeutics (Nasdaq: RPRX) completed two animal studies of its uterine fibroid and endometriosis treatment Proellex in a vaginal delivery formulation.
Shares of Jackson Hewitt Tax Service (NYSE: JTX) climbed after H&R Block's (NYSE: HRB) tax refund anticipation loan partner ended its contract with the tax preparation firm.
American International Group (NYSE: AIG) entered two credit facilities totaling $3 billion.
On the downside
Seeking Alpha contributor Edward Stevenson questioned the recent surge in XOMA's (Nasdaq: XOMA) stock price.
Capstone Investments analyst Carter Driscoll initiated coverage of Tesla Motors (Nasdaq: TSLA) with a Sell rating and a price target of $22.
The Food and Drug Administration refused to approve Alimera Sciences' (Nasdaq: ALIM) and pSivida's (Nasdaq: PSDV) diabetic macular edema treatment Iluvien.
In the broad market, declining issues outpaced advancers by a margin of nearly 2 to 1 on the NYSE and by nearly 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a point to 787.
