Stocks Open Lower on Light Volume

Investors mostly stayed on the sidelines as stocks drifted lower on the absence of positive economic signals.  The Dow lost 39 points to 8285 while Nasdaq fell 5 points to 1781.

On the upside

Trinity Biotech (Nasdaq: TRIB) received FDA approval for its drug diagnostic device.

Shares of LittelFuse (Nasdaq: LFUS) surged after the electronic components maker raised its 2nd quarter outlook.

Shares of casual dining chain Ruby Tuesday (NYSE: RT) rose ahead of the company's earnings report after the close of market today.

On the downside

Discover Financial Services (NYSE: DFS) raised $500 million in an offering of new shares.

Hansen Medical (Nasdaq: HNSN), a medical robotics company, offered lowered guidance for the quarter.  An analyst promptly downgraded the stock.

Investors remained concerned about the future of American Axle & Manufacturing (NYSE: AXL) after its peers in the automotive parts industry filed for bankruptcy.

In the broad market, declining issues outpaced advancers by a margin of more than 2 to 1 on the NYSE and by 5 to 4 on Nasdaq. The Russell 2000 which tracks small cap stocks slipped a point to 492.

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