Flat Open Ahead Of Yellen’s Comments

The markets opened flat with the Dow adding 5 points to 15,827 while Nasdaq lost 8 points to 3957 as investors await comments from Federal Reserve chair nominee Janet Yellen.

On the upside 

Oxygen Biotherapeutics (Nasdaq: OXBT) closed its acquisition of certain Phyxius Pharma assets.

Robert W. Baird upgraded SolarCity (Nasdaq: SCTY) from a Neutral rating to an Outperform rating.

Shares of Gogo (Nasdaq: GOGO) continued rising lifting its revenue guidance for the year earlier this week.

On the downside

Cisco Systems (Nasdaq: CSCO) reported lower first quarter earnings and warned of lower second quarter revenue. 

Eagle Bulk Shipping (Nasdaq: EGLE) widened third quarter losses as revenue dropped.

Millennial Media (NYSE: MM) widened losses for the third quarter even as revenue climbed.

In the broad market, declining issues outpaced advancers by a margin of 10 to 9 on the NYSE while advancers barely edged out decliners by a slim margin on Nasdaq. The broader S&P 500 added 2 points to 1784.

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