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Mixed Open Over China's Trade Deficit

China reported a greater than expected trade deficit in February of $31.48 billion. The markets opened mixed with the Dow adding 14 points to 12,936 while Nasdaq lost 4 points to 2983.

On the upside

Youku (NYSE: YOKU) will merge with rival Tudou (Nasdaq: TUDO) in an all stock deal valued at approximately $1.1 billion.

Asahi Kasei will pay approximately $2.21 billion in cash to acquire Zoll Medical (Nasdaq: ZOLL).

Clean Diesel Technologies (Nasdaq: CDTI) reversed year ago losses to post a profit for the fourth quarter as revenue surged.

On the downside

Tranzyme Pharma's (Nasdaq: TZYM) experimental bowel medication ulimorelin failed a late stage clinical trial.

Anthera Pharmaceuticals (Nasdaq: ANTH) stopped a late stage clinical trial of its cardiovascular disease treatment varespladib because the drug was ineffective.

Wedbush downgraded Heckmann (NYSE: HEK) to an Underperform rating.

In the broad market, declining issues outpaced advancers by a margin of 7 to 5 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks slipped 2 points to 814.

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