The markets opened flat with the Dow slipping 11 points to 16,558 as investors monitored developments in Ukraine. Nasdaq lost 4 points to 4396.

On the upside

Fortegra Financial (NYSE: FRF) will be acquired by Tiptree Financial in an all cash deal valued at approximately $218 million.

Intercept Pharmaceuticals (Nasdaq: ICPT) reported upbeat results from a midstage clinical trial of its liver disease treatment.

The Food and Drug Administration approved Exact Sciences' (Nasdaq: EXAS) Cologuard colon cancer DNA test.

On the downside

Dendreon (Nasdaq: DNDN) warned that it may default on its debt.

Investors locked in profits on Tekmira Pharmaceuticals (Nasdaq: TKMR).

Profit taking weighed down shares of MannKind (Nasdaq: MNKD).

In the broad market, declining issues outpaced advancers by a margin of more than 5 to 3 on the NYSE and by more than 2 to 1 on Nasdaq. The broader S&P 500 slipped a point to 1935. Bitcoin lost $6 to $566.