Lower close even as factory orders rise

The markets closed lower with the Dow losing 21 points to 16,722 despite a gain in factory orders. Nasdaq slipped 3 points to 4,234.

On the upside

The Fresh Market (Nasdaq: TFM) chairman Ray D. Berry bought 435,000 shares of company stock last week.

Jefferies initiated coverage of Applied Materials (Nasdaq: AMAT) with a Buy rating.

Shares of IAMGOLD (NYSE: IAG) surged on no news.

On the downside

Theravance (Nasdaq: THRX) completed the separation of Theravance Biopharma (Nasdaq: TBPH), forming two independent, publicly traded companies.

Doral Financial (NYSE: DRL) must reclassify $229.9 million from Puerto Rico as a loss.

Profit taking weighed down shares of EveryWhere Global (Nasdaq: EVRY).

In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 3 on both the NYSE and on Nasdaq. The broader S&P 500 held steady at 1924. Bitcoin added $1.75 or 0.26% to $662.98.

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