STOCKS GO NOWHERE: Here's what you need to know

Flickr/MorStocks fluctuated in trading on Tuesday, with the Dow being the biggest loser, dragged down by disappointing earnings results.

First, the scoreboard:

• Dow: 17,960.76, -74.17, (-0.41%)
• S&P 500: 2,099.15, -1.25, (-0.06%)
• Nasdaq: 5,020.09, +25.49, (0.51%)

And now, the top stories on Tuesday:

1. Teva Pharmaceuticals proposed to buy Mylan Pharmaceuticals for $82 per share in cash and stock in a deal worth about $40 billion. It's the largest deal announced in the industry so far this year. In a statement, Teva said the proposal offers a better alternative to Mylan's proposed acquisition of Perrigo, announced earlier this month. Mylan offered to buy Perrigo for $205 per share in a deal worth $28.9 billion.
2. Commodities trader Navinder Singh Sarao was arrested at his home in London in connection with the 2010 "Flash Crash" that shook global markets. On May 6, 2010, the S&P 500 mysteriously plunged 9% and the Dow fell about 1,000 points. According to the CTFC complaint, Sarao used a "layering algorithm" to push out multiple large sell orders that would modify themselves to move with S&P 500 E-Minis futures prices. Allegedly, the layers of orders would increase the spread between the bid and the asking price so that other traders would stay away from the best price. Sarao would then cancel the sell orders, according to the complaint.
3. Oil driller Baker Hughes reported that revenues fell 20% in the first quarter to $4.59 billion, missing expectations for $5.3 billion. It posted a net loss of $589 million, or $1.35 per diluted share (vs $0.46 forecast.) The company also announced that it cut its workforce by 17% in the fourth quarter, totaling about 10,500 positions. During the earnings call, CEO Martin Craighead said oil companies said about firms' reaction to the fallout from the oil crash: "I do get a bit of a feeling if you will that it's - I don't want to say it's overdone, but I'd say there's a bit of drama in the marketplace."
4. Taser International shares fell by more than 4% as the Tribeca film festival runs a documentary that questions the safety of its namesake product. The film, "Tom Swift and His Electric Rifle," shows how brother Rick and Tom Smith founded and grew the company, and highlights incidents when people who police stunned died afterwards. The company's shares are up around 66% for the past year, amid strong demand from police departments Taser's products.
5. Shares of athletic footwear and apparel company Under Armour fell by nearly 5% after it provided an outlook for revenues below investor expectations. It raised its full-year outlook to $3.78 billion from $3.76 billion, shy of expectations for revenue of $3.82 billion. It reported first quarter earnings per share of $0.05, matching expectations, on revenue of $805 million, beating Wall Street's expectations for revenue of $802.5 million, according to estimates from Yahoo Finance. And, it raved about Masters winner Jordan Spieth, who has an endorsement deal.
6. ForceFiled Energy shares will not be trading till at least May 5. On Monday, the company disclosed that its chairman, Richard St. Julien was arrested, on Friday, and resigned on Sunday. Shares fell 20% before being halted. In a release Tuesday, the SEC suspended trading due to concerns about the adequacy and accuracy of information available to investors concerning the funding of recent articles and promotions touting [the company]." The Department of Justice said St. Julien was arrested in connection with stock manipulation.

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