First time applications for unemployment benefits fell more than expected last week but the markets opened lower with the Dow losing 48 points to 15,570. Nasdaq fell 14 points 3915.
On the upside
Alcatel-Lucent (NYSE: ALU) reported a narrower than expected loss for the third quarter.
Expedia (Nasdaq: EXPE) reported flat third quarter earnings that beat analyst expectations.
Oxygen Biotherapeutics (Nasdaq: OXBT) continued rising.
On the downside
Ariad Pharmaceuticals (Nasdaq: ARIA) temporarily suspended sales of its leukemia treatment Iclusig at the request of the Food and Drug Administration.
Avon Products (NYSE: AVP) fell to a greater than expected loss as revenue fell.
JDS Uniphase (Nasdaq: JDSU) reversed year ago losses to post a small profit for the first quarter but the company forecast current quarter revenue that fell short of expectations.
In the broad market, declining issues outpaced advancers by a margin of more than 2 to 1 on the NYSE and by more than 5 to 3 on Nasdaq. The broader S&P 500 lost 4 points to 1759.
