Mid-Morning Market Update: Markets Open Lower; Facebook Acquires Onavo

Following the market opening Monday, the Dow traded down 0.56 percent to 15,151.54 while the NASDAQ declined 0.52 percent to 3,772.24. The S&P also fell, dropping 0.54 percent to 1,694.05.

Facebook

has acquired mobile tech startup Onavo for an undisclosed sum. Onavo was founded in 2010 and has around 40 employees. It will become Facebook's first office in Israel.

Antares Pharma

shot up 9.93 percent to $4.98 after the company announced the

of OTREXUP injection. Shares of Benefitfocus

got a boost, shooting up 4.85 percent to $43.89 after

initiated coverage on the stock with a Buy rating. Aratana Therapeutics

was also up, gaining 6.81 percent to $25.09 after the company

Vet Therapeutics.

Shares of Expedia

were down 6.96 percent to $48.13 after Deutsche Bank downgraded the stock from Buy to Hold and lowered target price from $66 to $51. Fair Isaac

shares tumbled 5.32 percent to $54.28 after the company lowered its FY13 outlook. Ariad Pharmaceuticals

was down, falling 5.40 percent to $4.0299 after Argus downgraded the stock from Hold to Sell.

In commodity news,

to $101.48, while gold traded up 1.26 percent to $1,284.20. Silver traded up 1.30 percent Monday to $21.54, while copper rose 0.93 percent to $3.30.

European shares

today. The Spanish Ibex Index fell 0.46 percent, while Italy's FTSE MIB Index dropped 0.51 percent. Meanwhile, the German DAX fell 0.27 percent and the French CAC 40 declined 0.22 percent while U.K. shares gained 0.03 percent.

Federal Reserve Chairman Ben Bernanke is expected to speak at 8:00 p.m. ET.