U.S. Stocks Open Mixed as Jobless Claims Shave Off 5,000 Claims

U.S. stocks opened mixed Thursday as weekly initial jobless claims fell 5,000 compared to last week and coming in almost exactly as economists had predicted at 271,000. Pfizer (PFE) is reportedly nearing a deal to buy Allergan (AGN), a rival drug maker for as much as $150 billion. A buyout could potentially help Pfizer move its corporate citizenship to Allergan's home country of Ireland and reduce its tax bill. The New York Times says the two companies are discussing a potential deal valued at $370 to $380 a share, a price that could make it the largest transaction so far this year. Best Buy (BBY) missed third-quarter sales expectations and provided a downbeat outlook, offsetting a profit beat. Best Buy says there was low demand for mobile devices, TVs, desktops and notebook computers.