Disappointing earnings weighed the markets down to a lower open with the Dow dropping 75 points to 15,392. Nasdaq tumbled 36 points to 3892.
On the upside
Corning (Nasdaq: GLW) will purchase Samsung's 43% stake in their LCD glass joint venture Samsung Corning Precision Materials.
American Realty Capital (Nasdaq: ARCP) will acquire Cole Real Estate Investments (NYSE: COLE) in a deal valued at approximately $11.2 billion.
Apollo Group (Nasdaq: APOL) reported lower fourth quarter earnings and revenue but the results were better than expected.
On the downside
Cree (Nasdaq: CREE) reported higher first quarter earnings but the company forecast current quarter earnings and revenue below analyst expectations.
The Food and Drug Administration requested that Repros Therapeutics (Nasdaq: RPRX) conduct additional studies for Androxal.
Broadcom (Nasdaq: BRCM) reported higher third quarter earnings and revenue but the chipmaker forecast current quarter revenue below estimates.
In the broad market, declining issues outpaced advancers by a margin of more than 5 to 3 on the NYSE and by nearly 5 to 2 on Nasdaq. The broader S&P 500 fell 10 points to 1743.
