Despite a dip in the nation's unemployment rate, the markets closed lower with the Dow falling 46 points to 9686 as private employers added fewer than expected jobs to their payrolls. Nasdaq lost 9 points to 2091.
On the upside
In a late stage clinical trial, Genentech's (NYSE: DNA) ovarian cancer treatment Avastin extended patient survival rate.
Analysts speculated that Sanofi-Aventis may be interested in acquiring Biogen (Nasdaq: BIIB).
Juniper Networks' (NYSE: JNPR) recently acquired Ankeena Networks was selected as a Red Herring Top 100 company.
On the downside
Helix Energy (NYSE: HLX) is finalizing reserve estimates for possible divestiture of its oil and gas business.
Delta (NYSE: DAL) expanded service to Africa in response to a strong demand but the stock price fell.
Wilshire Bancorp (Nasdaq: WIBC) blamed loan losses for warning of losses for the second quarter.
In the broad market, declining issues outpaced advancers by a margin of more than 7 to 5 on the NYSE and by more than 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 5 points to 598.
