First time applications for unemployment benefits unexpectedly fell last week but the markets opened lower with the Dow dropping 81 points to 18,199. Nasdaq fell 23 points to 5,292.
On the upside
Aurinia Pharmaceuticals (Nasdaq: AUPH) reported positive 24-week data from the AURION study of voclosporin in combination with mycophenolate mofetil and oral corticosteroids in patients with active lupus nephritis.
Shares of Corbus Pharmaceuticals (Nasdaq: CRBP) extended its gains.
Bargain hunters lifted shares of Real Goods Solar (Nasdaq: RGSE).
On the downside
Recode reported that neither Google (Nasdaq: GOOG) nor Apple (Nasdaq: AAPL) would make an offer for Twitter (NYSE: TWTR).
Alnylam Pharmaceuticals (Nasdaq: ALNY) will discontinue development of revusiran.
Wal-Mart (NYSE: WMT) forecast flat earnings for fiscal 2017 as it invests in its online presence.
In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 2 on the NYSE and by more than 5 to 2 on Nasdaq. The broader S&P 500 fell 6 points to 2,153. Bitcoin eased a fraction to $609.
