Flat Open As Small Business Optimism Slips

The markets opened flat with the Dow edging up 2 points to 15,785 while Nasdaq slipped 2 points to 3916 as small business optimism fell in October.

On the upside 

A Food and Drug Advisory panel recommended approval of Vanda Pharmaceuticals’ (Nasdaq: VNDA) sleep disorder treatment tasimelteon.

Assured Guaranty (NYSE: AGO) reported sharply higher third quarter earnings as revenue surged.

L&L Energy (Nasdaq: LLEN) issued a report refuting allegations of fraud made by GeoInvesting.

On the downside

The Food and Drug Administration informed Sarepta Therapeutics (Nasdaq: SRPT) that a New Drug Application for its Duchenne muscular dystrophy treatment eteplirsen would be premature due to disappointing trial results. 

Hologic (Nasdaq: HOLX) widened fourth quarter losses prompting a downgrade.

Yingli Green Energy (NYSE: YGE) narrowed third quarter losses but the results fell short of analyst expectations.

In the broad market, declining issues outpaced advancers by a margin of more than 2 to 1 on the NYSE and by nearly 5 to 4 on Nasdaq. The broader S&P 500 held steady at 1771.

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