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July 02, 2012 at 10:52 AM EDT
Chinese Manufacturing Activity Slows, Markets Open Lower
Manufacturing activity slowed more than expected in China to weigh the markets down to a lower open with the Dow falling 61 points to 12,818. Nasdaq eased a point to 2933.
On the upside
German company Linde will acquire Lincare Holdings (Nasdaq: LNCR) in a cash deal valued at approximately $4.6 billion.
On the downside
Susquehanna lowered its price target on Groupon (Nasdaq: GRPN) from $15 to $12.
Mad Money's Jim Cramer rated Liquidity Services (Nasdaq: LQDT) a Sell.
Stifel Nicolaus downgraded Forest Oil (NYSE: FST) to a Hold rating.
In the broad market, advancing issues barely edged out decliners by a slim margin on the NYSE while decliners outpaced advancers by 10 to 9 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a fraction to 797.
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