U.S. Markets closed

Markets Mixed: Poor Economic Data Weighs Against Biotech Mega-Deal

Markets closed mixed Tuesday as poor manufacturing data and housing sentiment was weighed against a $25 billion deal in the biotech sector. Treasury yield moves suggest poor weather is not entirely to blame for lackluster economic data. Forest Laboratories jumped 29% after Actavis agreed to buy the maker of the Alzheimer's drug Namenda. Coca-Cola Co. shed nearly 4% as fourth-quarter profit fell. Homebuilders also dropped as a gauge of homebuilder confidence dived by the most on record in February amid bad weather. TheStreet's Jane Searle speaks with GreyWolf Execution's Mark Newton as the New York Stock Exchange.