Weak April retail sales weighed down the markets to a lower open with the Dow losing 21 points to 10,847. Nasdaq slipped 3 points to 2399.
On the upside
HealthTronics (Nasdaq: HTRN) will be acquired by Endo Pharmaceuticals (Nasdaq: ENDP) for approximately $223 million.
The Food and Drug Administration granted orphan drug designation to Aeterna Zentaris' (Nasdaq: AEZS) ovarian cancer treatment AEZS-108, which will provide seven years of market exclusivity.
First quarter earnings for MetroPCS (NYSE: PCS) fell but revenue climbed to beat expectations due to a surge in new subscribers.
On the downside
Although JDS Uniphase (Nasdaq: JDSU) narrowed third quarter losses, revenue fell short of expectations.
Alcatel-Lucent (NYSE: ALU) disappointed by widening first quarter losses more than expected as revenue dropped.
Sales at stores open more than a year dropped by a greater than expected 7% for Abercrombie & Fitch (NYSE: ANF).
In the broad market, declining issues outpaced advancers by a margin of 5 to 3 on the NYSE and by nearly 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks added a point to 700.
