Lower open as trade deficit widens

The nation's trade deficit widened more than expected in February to weigh the markets down to a lower open with the Dow dropping 60 points to 17,676. Nasdaq fell 26 points to 4,865.


On the upside


Inventergy Global (Nasdaq: INVT) reported sharply higher full year revenue.


Marvell Technology (Nasdaq: MRVL) chief executive officer Sehat Sutardja and president Weili Dai both resigned effective immediately.


Valeant (NYSE: VRX) completed a review of its accounting practices and has found no new items that would trigger a restatement of financials.


On the downside


New stricter rules for corporate tax inversions may prevent Allergan's (NYSE: AGN) merger with Pfizer (NYSE: PFE).


Profit taking weighed down shares of Galena Biopharma (Nasdaq: GALE).


Shares of Vericel (Nasdaq: VCEL) extended its losses.


In the broad market, declining issues outpaced advancers by a margin of more than 5 to 1 on the NYSE and by 3 to 1 on Nasdaq. The broader S&P 500 dropped 14 points to 2,051. Bitcoin added $2 to $420.

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