The markets retreated during the midday with the Dow slipping 36 points to 16,972 as investors digest corporate consolidations and separations. Nasdaq dropped 25 points to 4,450.
On the upside
Durata Therapeutics (Nasdaq: DTRX) will be acquired by Actavis in a deal valued at approximately $675 million.
Hewlett-Packard (NYSE: HPQ) will separate into two businesses, a technology services company and a computer and printer business.
Revolution Lighting Technologies (Nasdaq: RVLT) expects third quarter revenue to top $26 million, well ahead of last year's $5.3 million.
On the downside
GT Advanced Technologies (Nasdaq: GTAT) filed for Chapter 11 bankruptcy protection.
Shares of BioCryst Pharmaceuticals (Nasdaq: BCRX) fell after the Food and Drug Administration approved Chimerix's brincidofovir as a potential treatment for Ebola.
LIbety Ventures (Nasdaq: LVNTA) changed the attribution from Liberty Interactive Group (Nasdaq: LINTA) to Liberty Ventures Group for its digital commerce companies.
In the broad market, advancing issues outpaced decliners by a margin of nearly 7 to 5 on the NYSE and while decliners edged out advancers by 5 to 3 on Nasdaq. The broader S&P 500 lost 5 points to 1961. Bitcoin climbed $34 to $332.
Markets slip as investors digest corporate reorganizations
October 06, 2014 at 13:02 PM EDT