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Wary investors spur stocks to open down 27 points

SHARE Wary investors spur stocks to open down 27 points

NEW YORK (AP) — Stocks opened lower Monday as investors digested earnings reports and a batch of mergers and acquisitions.

In the opening minutes of trading, the Dow Jones industrial average was down 27.22 at 10,785.53.

Broader stock indicators were mixed. Standard & Poor's 500 index was down 2.48 at 1,507.50, and the Nasdaq composite index was down 12.23 at 4,233.95.

Analysts said investors are acting cautiously and are likely taking some profits in the wake of last week's rally in the technology sector, a move based on solid earnings reports.

Merger announcements were also being analyzed by investors.