Producer prices steady, markets open higher

Producer prices held steady last month raising hopes that the Federal Reserve will delay lifting interest rates. The markets opened higher with the Dow rising 9 points to 17,040. Nasdaq gained 10 points to 4,529.

On the upside

Washington Prime Group will acquire Glimcher Realty Trust (NYSE: GRT) in a stock and cash deal valued at approximately $4.3 billion including the assumption of debt.

Sino-Global Shipping America (Nasdaq: SINO) swung to a profit for the fourth quarter and full year.

The Chinese local government of Pingdingshan will provide SinoCoking Coal and Coke Chemical Industries (Nasdaq: SCOK) with an extensive gas pipeline distribution network and gas storage system.

On the downside

After concluding its strategic review, Atlantic Power (NYSE: AT) cut its annual dividend and named Ken Hartwick to the position of interim president and chief executive officer.

Investors locked in profits on Avanir Pharmaceuticals (Nasdaq: AVNR).

Siga Technologies (Nasdaq: SIGA) filed for Chapter 11 bankruptcy protection.

In the broad market, declining issues outpaced advancers by a margin of 7 to 5 on the NYSE and by more than 5 to 3 on Nasdaq. The broader S&P 500 added 3 points to 1988. Bitcoin slipped $6 to $466.
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