The markets opened mixed with the Dow slipping 3 points to 16,487 while Nasdaq gained 19 points to 4,110 despite AT&T's $48.5 billion offer for DirecTV.
On the upside
InterMune (Nasdaq: ITMN) reported positive results from an ASCEND phase III study of pirfenidone.
SanDisk (Nasdaq: SNDK) and Toshiba have taken an exclusive license to develop memory technology with Intermolecular (Nasdaq: IMI).
Shares of Plug Power (Nasdaq: PLUG) continued rising.
On the downside
AT&T (NYSE: T) offered approximately $48.5 billion in cash and stock to acquire DirecTV (Nasdaq: DTV).
A Seeking Alpha contributor recommended shorting ParkerVision (Nasdaq: PRKR).
Investors locked in profits on Cisco Systems (Nasdaq: CSCO).
In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 3 on the NYSE and by more than 7 to 5 on Nasdaq. The broader S&P 500 added 2 points to 1880. Bitcoin edged up $0.87 or 0.20% to $443.81.