Jobless Claims Rise, Markets Open Lower

Jobless claims rose more than expected last week to weigh the markets down to a lower open with the Dow falling 63 points to 13,864. Nasdaq dropped 21 points to 3143.

On the upside

The Food and Drug Administration recommended that Repros Therapeutics (Nasdaq: RPRX) proceed with a phase 3 study of Androxal.

A district court issued a Markman Order in favor of ParkerVision (Nasdaq: PRKR) in its patent infringement suit against Qualcomm (Nasdaq: QCOM).

Linn Energy will pay approximately $2.5 billion in stock to acquire Berry Petroleum (NYSE: BRY).

On the downside

VeriFone Systems (NYSE: PAY) warned that first quarter earnings and revenue would fall far short of analyst expectations and forecast current quarter results that missed estimates.

Forest Oil (NYSE: FST) fell to a loss for the fourth quarter as revenue fell.

Tesla Motors (Nasdaq: TSLA) widened fourth quarter losses.

In the broad market, declining issues outpaced advancers by a margin of more than 5 to 2 on the NYSE and by more than 5 to 3 on Nasdaq. The broader S&P 500 index fell 7 points to 1504.

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