Mixed start for stocks after long holiday weekend
Feb. 18, 2014
NEW YORK (AP) — The stock market is getting off to a mixed start as traders return from a long holiday weekend.
Coca-Cola slumped after turning in disappointing quarterly results and health care stocks rose following news a big merger in the pharmaceutical sector.
The Dow Jones industrial average was flat at 16,147 after the first few minutes of trading Tuesday.
The Standard & Poor's 500 index rose three points, or 0.2 percent, to 1,841. The Nasdaq composite increased 17 points, or 0.4 percent, to 4,260.
Forest Laboratories jumped 30 percent after another drugmaker, Actavis, agreed to buy the company for $25 billion.
Coca-Cola fell 3 percent after reporting a decline in fourth-quarter profit and sales from a year ago.
U.S. financial markets were closed Monday for the Presidents' Day holiday.