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Flat open as crude oil prices ease

The markets opened flat with the Dow edging up a fraction to 17,793 as crude oil prices eased. Nasdaq added a point to 4,916.


On the upside


Virgin America (Nasdaq: VA) will be acquired by Alaska Air Group (NYSE: ALK) for a premium of approximately $2.6 billion in cash.


Brocade Communications (Nasdaq: BRCD) will pay approximately $1.5 billion in cash and stock to acquire Ruckus Wireless (NYSE: RKUS).


Zafgen (Nasdaq: ZFGN) reported new upbeat data from a Phase 3 study of beloranib to treat Prader-Willi syndrome.


On the downside


BB&T downgraded Smith & Wesson (Nasdaq: SWHC) from a Buy rating to a Hold rating.


The Wall Street Journal reported that a shortage of parts will delay delivery of Facebook's (Nasdaq: FB) Oculus Rift virtual reality headset.


RBC Capital Markets initiated coverage of BlackBerry (Nasdaq: BBRY) with a Sector Perform rating.


In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 3 on the NYSE and by 10 to 9 on Nasdaq. The broader S&P 500 held steady at 2,072. Bitcoin eased a fraction to $416.

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