Lower open as ECB holds bond purchases steady

The European Central Bank lowered interest rates but failed to increase bond purchases. The markets opened lower with the Dow dropping 79 points to 17,649 while Nasdaq lost 15 points to 5,107.

On the upside

The antitrust waiting period for Dyax’s (Nasdaq: DYAX) acquisition of Shire Pharmaceuticals ended.

Avago Technologies (Nasdaq: AVGO) reported sharply higher fourth quarter earnings that beat analyst expectations.

Shares of SolarCity (Nasdaq: SCTY) extended its gains.

On the downside

Chesapeake Energy (NYSE: CHK) announced a private exchange offer of up to $1.5 billion for senior notes.

Verint Systems (Nasdaq: VRNT) disappointed with lower third quarter earnings that missed estimates prompting the company to lower its full year forecast.

Violin Memory (NYSE: VMEM) reported a wider than expected loss for the third quarter as revenue fell.

In the broad market, advancing issues outpaced decliners by a margin of more than 3 to 2 on the NYSE and by more than 2 to 1 on Nasdaq. The broader S&P 500 held steady at 2,079. Bitcoin held steady at $357.

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