The markets opened lower with the Dow falling 70 points to 17,662 as the May unemployment rate rose in five states. Nasdaq tumbled 39 points to 4,805.
On the upside
Revlon (NYSE: REV) will pay a premium of approximately $419 million in cash to acquire Elizabeth Arden (Nasdaq: RDEN).
BioScrip (Nasdaq: BIOS) priced its public offering of 40 million common shares at $2.00 per share.
Jaguar Animal Health (Nasdaq: JAGX) reported positive results from a study conducted with Cornell University College of Veterinary Medicine evaluating the prophylactic use of a second-generation, powder formulation of Neonorm Calf.
On the downside
Comtech Telecommunications (Nasdaq: CMTL) priced its public offering of 7.145 million shares at the discounted price of $14.00 per share.
Synaptics (Nasdaq: SYNA) will cut 160 jobs and close some of its offices.
Investors locked in profits on Exact Sciences (Nasdaq: EXAS).
In the broad market, advancing issues outpaced decliners by a margin of 2 to 1 on the NYSE and by more than 10 to 9 on Nasdaq. The broader S&P 500 fell 9 points to 2,068. Bitcoin lost $20 to $733.
