The markets opened mixed with the Dow gaining 45 points to 12,330 while Nasdaq slipped 2 points to 2757. Consumer prices rose in March as food and energy costs climbed.
On the upside
Assured Guaranty (NYSE: AGO) will receive $1.1 billion from Bank of America (NYSE: BAC) to settle liabilities associated with 29 residential mortgage-backed securities transactions insured by Assured Guaranty.
First quarter earnings sllipped for Mattel (Nasdaq: MAT) but the results topped analyst estimates.
Merck (NYSE: MRK) and Johnson & Johnson (NYSE: JNJ) settled their dispute over the rheumatoid arthritis treatments Remicade and Simponi by dividing the global marketing and distribution rights.
On the downside
Google (Nasdaq: GOOG) reported higher first quarter earnings but the results fell short of analyst expectations as expenses surged prompting a downgrade.
While fourth quarter earnings rose for Infosys Technologies (Nasdaq: INFY), the results missed analyst expectations and the company forecast 2012 results below expectations.
RXi Pharmaceuticals (Nasdaq: RXII) priced its public offering of 11.95 million units at $1.00 per unit.
In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 4 on the NYSE and by more than 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 2 points to 824.
