Jobless claims rose less than expected last week but the markets opened lower with the Dow dropping 80 points to 18,320. Nasdaq fell 19 points to 5,293.
On the upside
Cynapsus Therapeutics (Nasdaq: CYNA) will be acquired by Sunovion Pharmaceuticals in an all cash deal valued at approximately $624 million.
Jaguar Animal Health (Nasdaq: JAGX) reported additional upbeat results from a study evaluating Neonorm in dairy calves.
Ollie's Bargain Outlet (Nasdaq: OLLI) reported higher second quarter earnings and revenue that beat expectations.
On the downside
Shares of First Majestic Silver (NYSE: AG) fell for the third day.
Genesco (NYSE: GCO) reported lower second quarter revenue and cut its full year forecast.
Investors locked in profits on SkyPeople Fruit Juice (Nasdaq: SPU).
In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 4 on the NYSE and by more than 10 to 9 on Nasdaq. The broader S&P 500 fell 10 points to 2,160. Bitcoin lost $2 to $571.
