The markets opened lower with the Dow falling 51 points to 15,606 as investors stayed on the sidelines. Nasdaq slipped 2 points to 3687.
On the upside
A district court judge ruled that Vringo (NYSE: VRNG) was entitled to supplemental damages in its patent infringement suit against AOL (NYSE: AOL), Gannett (NYSE: GCI), Google (Nasdaq: GOOG), IAC (Nasdaq: IACI), and Target (NYSE: TGT).
Compugen (Nasdaq: CGEN) entered a development deal with Bayer that could generate payments of more than $500 million from the German pharmaceutical.
Shares of Stereotaxis (Nasdaq: STXS) continued rising after announcing a loan modification last week.
On the downside
HSBC (NYSE: HBC) reported higher earnings for the first half of the year but the results fell short of analyst expectations.
Piper Jaffray downgraded Qualcomm (Nasdaq: QCOM) from an Overweight rating to a Neutral rating.
Profit taking sank shares of Yelp (NYSE: YELP).
In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 3 on the NYSE and by 9 to 7 on Nasdaq. The broader S&P 500 lost 3 points to 1706.
