The markets opened mixed with the Dow dropping 50 points to 19,913 as crude oil prices fell. Nasdaq rose 7 points to 5,528.
On the upside
Takeda Pharmaceutical offered a premium of approximately $5.2 billion in cash to acquire Ariad Pharmaceuticals (Nasdaq: ARIA).
EteroMedics (Nasdaq: ETRM) stock surged for the fourth day.
Animal healthcare provider VCA (Nasdaq: WOOF) will be acquired by candy maker Mars in a deal valued at approximately $9.1 billion including the assumption of debt.
On the downside
AMAG Pharmaceuticals (Nasdaq: AMAG) provided preliminary fourth quarter and full year results.
First quarter earnings for Acuity Brands (NYSE: AYI) fell short of expectations.
Stage Stores (NYSE: SSI) reported a 7.3% drop in holiday same store sales prompting the retailer to cut its fourth quarter earnings outlook.
In the broad market, declining issues outpaced advancers by a margin of 2 to 1 on the NYSE and by more than 5 to 3 on Nasdaq. The broader S&P 500 index lost 4 points to 2,272. Bitcoin fell $4 to $885.
