An unexpected 0.4% drop in March retail sales weighed the markets down to a lower open with the Dow losing 33 points to 14,831. Nasdaq fell 13 points to 3287.
On the upside
Shares of Rite Aid (NYSE: RAD) continued rising after reporting a profit for the fourth quarter yesterday.
Rally Software (NYSE: RALY) stock surged on its first trading day.
Hedge fund Jana Partners purchased a 7.4% stake in Ashland (NYSE: ASH) saying that the company was undervalued.
On the downside
Infosys (NYSE: INFY) reported lower fourth quarter earnings and warned of slower revenue growth for the year.
A Seeking Alpha contributor expects MannKind's (Nasdaq: MNKD) inhalable insulin Afrezza to fail a Phase III clinical trial.
Profit taking sank shares of Acadia Pharmaceuticals (Nasdaq: ACAD).
In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 3 on the NYSE and by more than 5 to 3 on Nasdaq. The broader S&P 500 index fell 7 points to 1587.
