The markets retreated during the midday with the Dow losing 29 points to 15,885 despite a greater than expected gain in November jobs. Nasdaq slipped 4 points to 4032.
On the upside
Essex Property Trust (NYSE: ESS) offered approximately $5 billion to acquire BRE Properties (NYSE: BRE).
CF Industries (NYSE: CF) may increase its dividend and has engaged in discussions to explore partnership structures.
Pandora Media (NYSE: P) reported higher November listener hours, a 16% gain in active listeners and expansion of its U.S. radio market from 7.17% last year to 8.44%.
On the downside
Edward Lampert's ESL Partners hedge fund lowered its stake in Sears (Nasdaq: SHLD) by distributing shares of the department store to investors.
OmniVision Technologies (Nasdaq: OVTI) reported higher second quarter earnings and revenue but the company forecast current quarter revenue below analyst expectations.
Kinder Morgan (NYSE: KMI) forecast strong growth in 2014 and expects to increase its dividend to $1.72 per share but the stock price dropped.
In the broad market, declining issues outpaced advancers by a margin of more than 2 to 1 on the NYSE and by more than 7 to 5 on Nasdaq. The broader S&P 500 lost 3 points to 1791. Bitcoin held steady at $1,097.10.
