The markets opened mixed with the Dow falling 31 points to 11,401 as Slovakia prepared to vote for the expansion of the bailout fund for Europe. Nasdaq gained 7 points to 2573.

On the upside

Arris Group (Nasdaq: ARRS) will pay a premium of approximately $53 million in cash to acquire BigBand Networks (Nasdaq: BBND).  

Ares Management and Canada Pension Plan Investment Board will acquire 99 Cents Only Stores (NYSE: NDN) for approximately $1.6 billion in cash. 

Jefferies & Co. analyst Randal Konik upgraded Aeropostale (NYSE: ARO) to a Buy rating.

On the downside

Mechel (NYSE: MTL) disappointed with second quarter earnings that fell far short of analyst expectations.  

Sally Beauty Holdings (NYSE: SBH) announced a secondary offering of 15 million common shares.

Raymond James downgraded Suntech Power (NYSE: STP) to an Underperform rating. 

In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 2 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks lost 4 points to 680.