Stocks opened lower with the
Nasdaq Composite Index
leading the way down in the early going after another rough overseas session.
Dow Jones Industrial Average
was down 69 to 7773. The
was down 10 to 1007, while the Nasdaq Composite was down 31 to 1663 and the
was down 5 to 358.
Treasuries continued to rally on their old friend flight to quality, as the yield on the 30-year Treasury bond continued to trade below the 5% level. The long bond was recently up 23/32 to 108 30/32, yielding 4.93%.
fell to a new 12-year low and stock markets in Europe fell dramatically.
Most Up at Open -- NYSE
and ICOS agreed to form a joint venture to develop and globally commercialize pills to treat sexual dysfunction in both men and women.
Most Down at Open -- NYSE
: The morning's news on IBM probably isn't what's knocked it down early.
is in talks to buy IBM's
unit. The unit has been valued at around $4 billion,
The Wall Street Journal
has reported. Also, IBM received a five-year, $2 billion contract from
Most Down at Open -- Nasdaq
CBT Group ( (CBTSY) CBTSY ADR), down 6 1/4 to 7 1/4
: The software company said its chairman and CEO and its CFO have resigned. Earlier this week, the company said third-quarter revenue and earnings would come in below expectations because of softness in Europe and the loss of a significant order.