The markets opened mixed with the Dow slipping 19 points to 15,775 while Nasdaq rose 10 points to 4136 ahead of Congressional testimony by new Federal Reserve chair Janet Yellen tomorrow.
On the upside
Plug Power (Nasdaq: PLUG) will provide its hydrogen fuel cell system solution to six distribution centers across the nation.
Alibaba offered a premium of approximately $1.45 billion to acquire AutoNavi (Nasdaq: AMAP).
Microchip Technology (Nasdaq: MCHP) will acquire Supertex (Nasdaq: SUPX) in an all cash deal valued at approximately $246 million.
On the downside
Boardwalk Pipeline Partners (NYSE: BWP) disappointed with sharply lower fourth quarter earnings prompting a downgrade.
Investors locked in profits on Nokia (NYSE: NOK).
Shares of Sprint (NYSE: S) fell ahead of its earnings release before market open tomorrow morning.
In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 3 on the NYSE and by 7 to 5 on Nasdaq. The broader S&P 500 eased a point to 1795. Bitcoin tumbled $71.26 or 12.20% to $583.84.
