The markets opened lower with the Dow falling 56 points to 17,856 as the European Central Bank delayed its decision to implement additional stimulus measures. Nasdaq added 3 points to 4,778.
On the upside
Array BioPharma (Nasdaq: ARRY) will regain worldwide rights to binimetinib and receive an upfront payment of up to $85 million from Novartis.
NextEra Energy will acquire Hawaiian Electric Industries (NYSE: HE) in a deal valued at approximately $4.3 billion including the assumption of debt.
Plug Power (Nasdaq: PLUG) will supply a telecommunications provider with its ReliOn integrated fuel cell solution and GenFuel hydrogen services.
On the downside
Aeropostale (NYSE: ARO) widened losses for the third quarter as revenue fell and forecast a larger than expected loss for the current quarter.
Cliffs Natural Resources (NYSE: CLF) terminated its tender offers for certain senior notes.
Express (NYSE: EXPR) reported lower third quarter earnings and revenue and forecast current quarter earnings below expectations.
In the broad market, declining issues outpaced advancers by a margin of more than 5 to 3 on the NYSE and by more than 7 to 5 on Nasdaq. The broader S&P 500 slipped 3 points to 2070. Bitcoin lost $6 to $367.
ECB delays stimulus decision, markets open lower
December 04, 2014 at 09:42 AM EST