Consumer spending slipped 0.2% in April to weigh the markets down to a lower open with the Dow losing 24 points to 15,299. Nasdaq slipped 5 points to 3485.
On the upside
Fourth quarter earnings more than tripled for OmniVision Technologies (Nasdaq: OVTI) to surpass analyst expectations by a wide margin as revenue soared and the company forecast current quarter revenue ahead of estimates.
Krispy Kreme Doughnuts (NYSE: KKD) reported higher first quarter earnings and revenue that topped expectations.
National Bank of Greece (NYSE: NBG) will repurchase up to 22.5 million American Depositary Shares.
On the downside
Palo Alto Networks (NYSE: PANW) fell to a loss for the third quarter as expenses soared and the network security firm forecast current quarter earnings and revenue below analyst expectations.
Investors locked in profits on EnteroMedics (Nasdaq: ETRM).
Profit taking weighed down shares of Ballard Power Systems (Nasdaq: BLDP).
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 index lost 4 points to 1650.
