The markets closed mixed with the Dow losing 31 points to 18,034 as crude oil prices fell for the second day. Nasdaq gained 18 points to 5,173.
On the upside
Acasti Pharma (Nasdaq: ACST) reported positive results from a bridging study for CaPre to treat severe hypertriglyceridemia.
Morgans Hotel Group (Nasdaq: MHGC) received a revised acquisition offer from an unidentified bidder for a premium of $2.75 per share.
Shares of Biostar Pharmaceuticals (Nasdaq: BSPM) surged on no news.
On the downside
Shares of Cobalt International Energy (NYSE: CIE) fell for the fifth day.
Investors locked in profits on Aralez Pharmaceuticals (Nasdaq: ARLZ).
A Food and Drug Administration advisory committee said that Spectrum Pharmaceuticals' (Nasdaq: SPPI) bladder tumor resection drug Qapzola was not effective.
In the broad market, declining issues outpaced advancers by a margin of 10 to 9 on the NYSE and by nearly 10 to 9 on Nasdaq. The broader S&P 500 eased a point to 2,125. Bitcoin held steady at $609.
