The markets opened lower with the Dow falling 23 points to 19,867 as worker productivity slowed in the fourth quarter. Nasdaq slipped 3 points to 5,639.
On the upside
British consumer goods company Reckitt Benckiser Group engaged in advanced discussions to acquire Mead Johnson Nutrition (NYSE: MJN) for a premium of approximately $16.7 billion.
Weatherford International (NYSE: WFT) reported a smaller than expected loss for the fourth quarter and announced an alliance with Nabors Industries (NYSE: NBR) to deliver enhanced drilling solutions to the oil and gas land market.
Naked Brand Group (Nasdaq: NAKD) launched its Comfortably You collection of sleepwear and loungewear that will be available on The Home Shopping Network.
On the downside
Shutterfly (Nasdaq: SFLY) disappointed with lower fourth quarter earnings that missed expectations and forecast current quarter results below estimates.
Cirrus Logic (Nasdaq: CRUS) reported better than expected results for the third quarter but the chip maker forecast fourth quarter results that fell short of expectations.
Civeo (NYSE: CVEO) priced its public offering of 20 million common shares at the discounted price of $3.00 per share.
In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 4 on the NYSE and by more than 8 to 5 on Nasdaq. The broader S&P 500 index lost 3 points to 2,276. Bitcoin climbed $11 to $987.
