Trade deficit widens, markets open lower

The nation's trade deficit widened in May to send the markets down to a lower open with the Dow tumbling 89 points to 17,594. Nasdaq dropped 40 points to 4,951.

On the upside

The European Medicines Agency granted positive Scientific Advice to Prima BioMed (Nasdaq: PBMD) for the breast cancer treatment IMP321.

Horizon Pharma (Nasdaq: HZNP) offered to acquire DepoMed (Nasdaq: DEPO) in an all stock deal valued at approximately $3 billion including the assumption of debt.

Plug Power (Nasdaq: PLUG) expects to report record revenue for the second quarter and affirmed its full year revenue forecast.

On the downside

Advanced Micro Devices (Nasdaq: AMD) warned that second quarter revenue would fall short of previous guidance.

Shares of SouFun Holdings (NYSE: SFUN) extended its losses.

7-Eleven will not renew its ATM placement contract with Cardtronics (Nasdaq: CATM).

In the broad market, declining issues outpaced advancers by a margin of 7 to 5 on the NYSE and by nearly 2 to 1 on Nasdaq. The broader S&P 500 lost 4 points to 2064. Bitcoin fell $9 to $262.