Lower open as oil continues falling

The markets opened lower with the Dow losing 14 points to 17,251 as crude oil prices continued to fall. Nasdaq fell 14 points to 4,918.


On the upside


Akebia Therapeutics (Nasdaq: AKBA) partnered with Mitsubishi Tanabe Pharma to develop and commercialize vadadustat to treat anemia related to chronic kidney disease in Asia.


Jarden (NYSE: JAH) will be acquired by Newell Rubbermaid (NYSE: NWL) in a cash and stock transaction valued at approximately $13.2 billion.


The Food and Drug Administration approved NephroGenex's (Nasdaq: NRX) Investigational New Drug application for clinical studies with intravenous Pyridorin to treat acute kidney injury.

On the downside


Morgan Stanley downgraded GoPro (Nasdaq: GPRO) from an Equal Weight rating to an Underweight rating.


Encana (NYSE: ECA) lowered its 2016 capital program and slashed its annual dividend from 28 cents per share to 6 cents per share.


Atara Biotherapeutics (Nasdaq: ATRA) halted development of PINTA 745 to treat protein energy wasting in patients with end stage renal disease after disappointing results from a Phase 2 clinical trial.


In the broad market, declining issues outpaced advancers by a margin of more than 5 to 3 on the NYSE while decliners barely edged out advancers by a slim margin on Nasdaq. The broader S&P 500 lost 4 points to 2,007. Bitcoin gained $11 to $443.

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