Lower Open On Profit Taking
The markets opened lower with the Dow slipping 24 points to 13,388 as investors locked in profits from yesterday's fiscal cliff rally. Nasdaq added a point to 3113.
On the upside
Alcatel-Lucent (NYSE: ALU) will demonstrate 12 new cloud-based service concepts at the CES 2013.
BG Medicine (Nasdaq: BGMD) received the CE Mark for its automated BGM Galectin-3 blood test.
SunPower (Nasdaq: SPWR) will supply Berkshire Hathaway's MidAmerican Energy Holdings with two solar power projects.
On the downside
Mellanox Technologies (Nasdaq: MLNX) cut its fourth quarter revenue guidance prompting a downgrade. Family Dollar Stores (NYSE: FDO) disappointed with lower first quarter earnings that fell short of analyst expectations and forecast current quarter results below estimates.
Pershing Square Capital dropped its recommendation that General Growth Properties (NYSE: GGP) sell itself.
In the broad market, declining issues outpaced advancers by a margin of more than 10 to 9 on the NYSE and by more than 9 to 7 on Nasdaq. The broader S&P 500 index eased a point to 1461.
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