The markets opened mixed with the Dow gaining 48 points to 16,379 while Nasdaq fell 20 points to 4298. Russia's stock market tumbled as the U. S. and Europe imposed additional sanctions.
On the upside
Endocyte (Nasdaq: ECYT) reported positive results from a Phase 2b TARGET trial of vintafolide and docetaxel in treating non-small cell lung cancer.
Lenovo will pay approximately $100 million in cash to purchase a portfolio of patents from Unwired Planet (Nasdaq: UPIP).
A Seeking Alpha contributor wrote that MagneGas (Nasdaq: MNGA) was undervalued.
On the downside
Symantec (Nasdaq: SYMC) fired chief executive Steve Bennett prompting downgrades.
PBF Energy (NYSE: PBF) priced its secondary offering of 15 million common shares at the discounted price of $25.50 per share.
EnLink Midstream Partners (NYSE: ENLK) priced its public offering of approximately 17.99 million common units at a discount.
In the broad market, advancing issues outpaced decliners by a margin of nearly 3 to 1 on the NYSE and by nearly 5 to 4 on Nasdaq. The broader S&P 500 rose 5 points to 1877. Bitcoin lost $15.16 or 2.57% to $575.25.
