The markets opened lower with the Dow dropping 68 points to 10,743 over expectations that consumer confidence will fall. Nasdaq tumbled 28 points to 2341.
On the upside
Fourth quarter earnings for Walgreen (NYSE: WAG) rose to top analyst estimates as prescription drug sales increased.
DryShips (Nasdaq: DRYS) won a $135 million drilling services contract for four wells off the coast of West Africa.
Endo Pharmaceuticals (Nasdaq: ENDP) will pay approximately $1.2 billion to acquire Qualitest Pharmaceuticals.
On the downside
American Capital Agency (Nasdaq: AGNC) priced its public offering of 11.5 million common shares at $26.00 per share.
Pacific Ethanol (NYSE: PEIX) will raise approximately $53.5 million through the sale of senior convertible notes and by selling its minority stake in Front Range Energy.
Associated Estates Realty (NYSE: AEC) priced its public offering of 8 million common shares at $13.60 per share.
In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 3 on the both NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks fell 6 points to 662.
