The markets opened flat with the Dow slipping 5 points to 11,376 as investors await possible action by the European Union to increase bailout funds to prevent a deepening debt crisis. Nasdaq edged up a fraction to 2591.
On the upside
Verigy (Nasdaq: VRGY) received an unsolicited acquisition offer from Advantest (NYSE: ATE).
Columbia Laboratories (Nasdaq: CBRX) and Watson Pharmaceuticals (NYSE: WPI) reported upbeat results from their Prochieve gel to reduce preterm birth.
Israeli newspaper the Calcalist reported that Riverbed Technology (Nasdaq: RVBD) offered $47 per share for Radware (Nasdaq: RDWR).
On the downside
Celgene International (Nasdaq: CELG) reported that an investigational study demonstrated that its Revlimid plus low dose dexamethasone was more effective in treating newly diagnosed multiple myeloma patients than Revlimid plus high dose dexamethasone.
Dollar General (NYSE: DG) reported higher third quarter earnings that beat analyst expectations and lifted its full year outlook but the stock price fell as investors locked in profits. Shares of the discount retailer rose on Friday in anticipation of upbeat earnings.
Investors locked in profits on Cyclacel Pharmaceuticals (Nasdaq: CYCC), which reported upbeat results for myelodysplastic syndromes treatment sapacitabine on Saturday.
In the broad market, declining issues outpaced advancers by a margin of more than 9 to 7 on the NYSE and by nearly 5 to 4 on Nasdaq. The Russell 2000 which tracks small cap stocks edged up a fraction to 756.
