The markets opened mixed with the Dow rising 27 points to 17,353 while Nasdaq fell 16 points to 4,747 as first time applications for unemployment benefits rose.
On the upside
Vitae Pharmaceuticals (Nasdaq: VTAE) reported positive results from a Phase 2a proof-of-concept clinical trial of VTP-43742 in psoriatic patients.
Rofin-Sinar Technologies (Nasdaq: RSTI) will be acquired by Coherent in a cash deal valued at approximately $942 million.
Bargain hunters lifted shares of Banco Bradesco (NYSE: BBD).
On the downside
Guess’ (NYSE: GES) disappointed with lower fourth quarter earnings and revenue and warned of losses for the current quarter.
Scorpio Bulkers (NYSE: SALT) priced its public offering of 21 million common shares at the discounted price of $3.00 per share.
Southcross Energy Partners (NYSE: SXE) warned that it may file for bankruptcy.
In the broad market, advancing issues outpaced decliners by a margin of nearly 9 to 7 on the NYSE while decliners edged out advancers by nearly 5 to 4 on Nasdaq. The broader S&P 500 slipped 2 points to 2,024. Bitcoin added $2 to $418.
