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Service sector expansion slows, markets close lower

A slowdown in service sector expansion weighed the markets down to a lower close with the Dow losing 28 points to 17,930. Nasdaq tumbled 47 points to 5,058.


On the upside


GTCR will pay a premium of approximately $800 million in cash to acquire Inteliquent (Nasdaq: IQNT).


Metaldyne Performance Group (NYSE: MPG) will be acquired by American Axle & Manufacturing (NYSE: AXL) for approximately $1.6 billion in cash and stock.


Microsemi (Nasdaq: MSCC) introduced its new SimpliPHY Gigabit Ethernet and Fast Ethernet PHYs.


On the downside


Trillium Therapeutics (Nasdaq: TRIL) advanced its advanced hematologic malignancies treatment TTI-621 from dose escalation into Phase 1b cohort expansion enrollment but the stock price tumbled.


Achillion Pharmaceuticals (Nasdaq: ACHN) fell to a loss for the third quarter.


Amyris (Nasdaq: AMRS) reported a loss for the third quarter.


In the broad market, declining issues outpaced advancers by more than 7 to 5 on the NYSE and by more than 5 to 3 on Nasdaq. The broader S&P 500 fell 9 points to 2,088 Bitcoin plunged $25 to $699.

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