The markets opened lower with the Dow losing 33 points to 10,372 with no economic data motivating investors to buy. Nasdaq edged up a fraction to 2209.
On the upside
Phoenix Technologies (Nasdaq: PTEC) will be acquired by Marlin Equity Partners for approximately $139 million.
The Food and Drug Administration granted BSD Medical (Nasdaq: BSDM) approval to market its MicroThermX Microwave Ablation System soft tissue ablation device.
Second quarter earnings for Chico's FAS (NYSE: CHS) more than doubled to top estimates as revenue rose.
On the downside
Longbow downgraded Safeway (NYSE: SWY).
PennantPark Investment (Nasdaq: PNNT) priced its public offering of 4 million common shares at $10.15 per share.
Morgan Keegan analyst Justin Patterson downgraded Netflix (Nasdaq: NFLX) to an Underperform rating citing concerns about streaming content costs.
In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 2 on the NYSE and by more than 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks fell 5 points to 621.
