Sales of new homes fell in February to weigh the markets down to a lower open with the Dow slipping 17 points to 13,028. Nasdaq lost 13 points to 3050.
On the upside
Needham analyst Sean McGowan initiated coverage of Glu Mobile (Nasdaq: GLUU) with a Strong Buy.
Robert W. Baird analyst Mark Marcon upgraded Monster Worldwide (NYSE: MWW) to an Outperform rating and lifted his price target from $11 per share to $15 per share.
Cenveo (NYSE: CVO) priced its offering of $225 million in senior notes at an interest rate of 11.5% per annum at a price of 96.328% of face value.
On the downside
KB Home (NYSE: KBH) narrowed losses for the first quarter but orders for new homes dropped.
Michael Kors (NYSE: KORS) priced its secondary offering of 25 million common shares at the discounted price of $47 per share.
KIT digital (Nasdaq: KITD) named chief executive Kaleil Isaza Tuzman to the position of chairman and appointed chief administrative officer Barak Bar-Cohen as interim chief executive.
In the broad market, declining issues outpaced advancers by a margin of nearly 10 to 9 on the NYSE and by more than 9 to 7 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a fraction to 820.
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