Disappointing earnings sent the markets tumbling to a sharply lower open with Dow plunging 115 points to 17,913. Nasdaq plummeted 47 points to 4,975.
On the upside
Glu Mobile (Nasdaq: GLUU) reported higher first quarter earnings and revenue, entered an exclusive partnership with Britney Spears and announced that Tencent Holdings will take a 15% stake in the company.
ClickSoftware Technologies (Nasdaq: CKSW) will be taken private by Francisco Partners Management for approximately $438 million in cash.
Civeo (NYSE: CVEO) fell to a loss for the first quarter on lower revenue but the stock price rose.
On the downside
Yelp (NYSE: YELP) reported an unexpected loss for the first quarter and forecast current quarter revenue below estimates.
Pacira Pharmaceuticals (Nasdaq: PCRX) swung to a profit for the first quarter but revenue fell short of expectations.
STMicroelectronics (NYSE: STM) reported a loss for the first quarter as revenue fell.
In the broad market, declining issues outpaced advancers by a margin of nearly 2 to 1 on the NYSE and by more than 5 to 3 on Nasdaq. The broader S&P 500 fell 14 points to 2092. Bitcoin rose $8 to $235.
Earnings disappoint, markets plunge
April 30, 2015 at 10:40 AM EDT