Producer prices held steady last month raising hopes that the Federal Reserve will delay lifting interest rates. The markets opened higher with the Dow rising 9 points to 17,040. Nasdaq gained 10 points to 4,529.
On the upside
Washington Prime Group will acquire Glimcher Realty Trust (NYSE: GRT) in a stock and cash deal valued at approximately $4.3 billion including the assumption of debt.
Sino-Global Shipping America (Nasdaq: SINO) swung to a profit for the fourth quarter and full year.
The Chinese local government of Pingdingshan will provide SinoCoking Coal and Coke Chemical Industries (Nasdaq: SCOK) with an extensive gas pipeline distribution network and gas storage system.
On the downside
After concluding its strategic review, Atlantic Power (NYSE: AT) cut its annual dividend and named Ken Hartwick to the position of interim president and chief executive officer.
Investors locked in profits on Avanir Pharmaceuticals (Nasdaq: AVNR).
Siga Technologies (Nasdaq: SIGA) filed for Chapter 11 bankruptcy protection.
In the broad market, declining issues outpaced advancers by a margin of 7 to 5 on the NYSE and by more than 5 to 3 on Nasdaq. The broader S&P 500 added 3 points to 1988. Bitcoin slipped $6 to $466.
Producer prices steady, markets open higher
September 16, 2014 at 10:43 AM EDT