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Lower Open Over Deepening Spanish Banking Crisis

Concerns about the deepening banking crisis in Spain weighed the markets down to a lower open with the Dow losing 36 points to 12,493. Nasdaq slipped 7 points to 2831.

On the upside

Bloomberg reported that billionaire investor Carl Icahn acquired a 4% stake in Chesapeake Energy (NYSE: CHK).

An increase in April mattress sales lifted shares of Tempur-Pedic (NYSE: TPX).

Complete Genomics (Nasdaq: GNOM) advanced for the fourth day.

On the downside

Delcath Systems (Nasdaq: DCTH) priced its public offering of more than 13 million common shares at the discounted price of $1.50 per share.

VeriFone (NYSE: PAY) reported sharply lower second quarter earnings and forecast third quarter results below estimates.

Talbots (NYSE: TLB) suitor Sycamore Partners ended acquisition negotiations with the women's apparel retailer.

In the broad market, advancing issues outpaced decliners by a margin of more than 7 to 5 on the NYSE and by a more than 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks edged up a fraction to 767.

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