Nasdaq 100 Leaders & Laggards: PDCO FLEX

The index, which includes 100 of the largest nonfinancial securities listed on the Nasdaq Stock Market, fell 23.56 points to 2,006.38. The broader Nasdaq composite fell 34.66 points to 2,562.15.

Shares of Patterson fell $8.54, or 22.7 percent, to $29.08 and set a four-year low of $28.75 earlier in the session. Patterson said its new forecast is based on expected weakness in equipment sales.

Sweden's LM Ericsson Telephone Co. lost $1.92, or 7.7 percent, to $23.19, after hitting a three-year low. The wireless equipment maker said its fourth-quarter revenue will be at the low end of its forecast.

Another telecom stock, Leap Wireless International Inc., shed $2.27, or 6.6 percent, to $32.06. The low-cost wireless carrier said it received waivers from lenders of its $890 million senior secured term loan and $200 million revolving credit facility.

Flextronics International Ltd. rose 33 cents, or 2.8 percent, to $12.06, after an analyst initiated coverage of the electronics manufacturing support company at "Buy."

Wynn Resorts Ltd. rose $3.14, or 2.4 percent, to $135.30, extending gains from Tuesday when the casino resort operator said it will pay a $6 per share dividend.

UAL Corp., which operates United Airlines, rose 81 cents, or 2.1 percent, to end at $39.