Stocks Open Lower on Mixed Earnings News

Investors studied the latest batch of corporate earnings news while analysts wondered if the two week rally would continue this week.  The Dow lost 2 points to 9091 while Nasdaq slipped 5 points to 1960.

On the upside

Varian (Nasdaq: VARI) received a $1.5 billion cash offer from scientific instrument maker Agilent Technologies (NYSE: A).

Shares of Acadia Pharmaceuticals (Nasdaq: ACAD) rallied for a 2nd day after the company announced positive late-stage trial results for its Parkinson's disease treatment. NBTY

Vitamin supplement maker NBTY (Nasdaq: NBTY) reported higher revenues and flat earnings that beat expectations.

On the downside

Shares of Aetna (NYSE: AET) fell after the health insurance provider reported higher revenues and flat membership growth.  Higher expenses trimmed earnings.

Specialty glass maker Corning (NYSE: GLW) posted lower revenues and earnings that beat expectations, but analysts noted most of the demand came from smaller and mid-size displays with tighter margins.

Verizon Communications (NYSE: VZ) reported slightly higher revenues and lower profits despite adding 1.1 million subscribers in the quarter.

In the broad market, declining issues outpaced advancers by a slim margin on the NYSE, but were edged out by a narrow margin on Nasdaq. The Russell 2000 which tracks small cap stocks was unchanged at 548.

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