Mylan, Perrigo Active on Boosted Bid; Starwood Explores Options

Stocks were lower in midday trading Wednesday after U.S. economic growth turned anemic in the first quarter. The first estimate of GDP growth was the worst reading in more than a year. Pending home sales increased 1.1% in March, slightly better than expected. The measure was at its highest level since June 2013. Stratasys (SSYS) was one of the worst performers on markets after issuing a first-quarter warning. Starwood Hotels (HOT) jumped after announcing it was exploring strategic options to increase shareholder value, which could involve a sale. Mylan (MYL) and Perrigo (PRGO) were active after Mylan increased its bid for the drugmaker to $75 a share.