The markets opened lower with the Dow tumbling 97 points to 17,350 as retail sales rose less than expected in October. Nasdaq dropped 32 points to 4,972.
On the upside
Mylan (Nasdaq: MYL) lost its $26 billion unsolicited bid to acquire Perrigo (NYSE: PRGO).
SouFun (NYSE: SFUN) will acquire a controlling stake in Wanli.
The Food and Drug Administration will complete its review of Lipocine's (Nasdaq: LPCN) New Drug Application for LPCN 1021 by June 28, 2016.
On the downside
Vipshop Holdings (NYSE: VIPS) warned that third quarter revenue would fall short of previous guidance.
Fossil Group (Nasdaq: FOSL) reported lower third quarter earnings and revenue and forecast current quarter results below analyst estimates.
Third quarter earnings and revenue for Nordstrom (NYSE: JWN) missed analyst expectations prompting the retailer to cut its full year forecast.
In the broad market, declining issues outpaced advancers by a margin of more than 5 to 3 on the NYSE and by nearly 5 to 2 on Nasdaq. The broader S&P 500 lost 8 points to 2,037. Bitcoin held steady at $331.
