Disappointing earnings weighed the markets down to a lower open with the Dow falling 40 points to 13,074. Nasdaq slipped 5 points to 3037.

On the upside

SXC Health Solutions (Nasdaq: SXCI) will acquire rival Catalyst Health Solutions (Nasdaq: CHSI) in a cash and stock deal valued at approximately $29.1 billion.

Ivanhoe Mines (NYSE: IVN) announced a $1.8 billion rights offering to common shareholders with a standby commitment from majority stakeholder Rio Tinto.

United Rentals (NYSE: URI) swung to a stronger than expected profit for the first quarter as revenue surged.

On the downside

Genworth Financial (NYSE: GNW) delayed the minority initial public offering of its Australian mortgage insurance business.

TheStreet defended its position that Arena Pharmaceuticals' (Nasdaq: ARNA) obesity treatment Lorcaserin faces many hurdles to regulatory approval.

Cree (Nasdaq: CREE) reported sharply lower third quarter earnings that missed analyst estimates.

In the broad market, declining issues outpaced advancers by a margin of nearly 2 to 1 on the NYSE and by nearly 7 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks lost 4 points to 806.