Consumer spending climbed more than expected but the markets closed lower with the Dow losing 18 points to 18,142 as crude oil prices extended their losses. Nasdaq eased a fraction to 5,189.
On the upside
Bloomberg reported that Brocade Communications Systems (Nasdaq: BRCD) was in advanced discussions to sell itself.
Loeb Holding offered to acquire the Pet Health Monitoring Segment of Intersections (Nasdaq: INTX).
Ophthotech (Nasdaq: OPHT) reported positive results from a Phase 2b study of Fovista in combination with Lucentis to treat wet age-related macular degeneration.
On the downside
Lumber Liquidators (NYSE: LL) widened losses for the third quarter.
Bloomberg reported that former Valiant Pharmaceuticals (NYSE: VRX) chief executive Michael Pearson and former chief financial officer Howard Schiller were being investigated for fraud.
Shares of Opera Therapeutics (Nasdaq: OPXA) extended its losses.
In the broad market, advancing issues outpaced decliners by a margin of nearly 10 to 9 on the NYSE while decliners edged out advancers by nearly 10 to 9 on Nasdaq. The broader S&P 500 held steady at 2,126. Bitcoin added $2 to $699.
