The markets opened flat with the Dow holding steady at 17,280 despite a gain in factory production as crude oil prices continued to slide. Nasdaq eased a fraction to 4,652.
On the upside
Talisman Energy (NYSE: TLM) confirmed that engaged in discussions with Repsol for a possible transaction.
Barclays upgraded Cirrus Logic (Nasdaq: CRUS) from an Underweight rating to an Overweight rating and lifted its price target from $18 to $28.
Riverbed Technology (Nasdaq: RVBD) will be taken private by Thoma Bravo and a Canadian teacher pension fund for approximately $3.6 billion.
On the downside
Sophiris Bio (Nasdaq: SPHS) reported that an efficacy threshold was not achieved in an ongoing Phase 3 "PLUS-1" trial of PRX302 to treat lower urinary tract symptoms of benign prostatic hyperplasia.
Investors continued to lock in profits on Momo (Nasdaq: MOMO).
Shares of Linn Energy (Nasdaq: LINE) extended its losses as crude oil prices continued to slide.
In the broad market, advancing issues outpaced decliners by a margin of nearly 7 to 2 on the NYSE and by nearly 5 to 2 on Nasdaq. The broader S&P 500 rose 6 points to 2009. Bitcoin added $3 to $345.
Flat open as oil continues slide
December 15, 2014 at 09:43 AM EST