Lower open even as jobless claims drop

The markets opened lower with the Dow losing 20 points to 18,075 even as first time applications for unemployment benefits fell to its lowest level in nearly 43 years. Nasdaq slipped 5 points to 4,942.

On the upside

Crestwood Equity Partners (NYSE: CEQP) entered a joint venture with Consolidated Edison (NYSE: ED) to own and develop Crestwood's existing natural gas pipeline and storage business in northern Pennsylvania and southern New York.

ServiceNow (NYSE: NOW) reported a smaller than expected loss for the first quarter as revenue surged.

Citrix Systems (Nasdaq: CTXS) reported sharply higher first quarter earnings that surpasses expectations by a wide margin as revenue climbed and the company forecast current quarter and full year results ahead of estimates.

On the downside

The Food and Drug Administration affirmed its negative clinical review of Sarepta Therapeutics' (Nasdaq: SRPT) Duchenne muscular dystrophy treatment eteplirsen.

First quarter earnings and revenue for Ericsson (Nasdaq: ERIC) fell far short of expectations.

Las Vegas Sands (NYSE: LVS) reported lower first quarter earnings and revenue.

In the broad market, advancing issues barely edged out decliners by a slim margin on the NYSE while advancers outpaced decliners by nearly 5 to 4 on Nasdaq. The broader S&P 500 lost 4 points to 2,098. Bitcoin added $2 to $440.
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