First time applications for unemployment benefits unexpectedly fell last week but the markets opened lower with the Dow falling 59 points to 18,466. Nasdaq dropped 26 points to 5,257.
On the upside
Second quarter revenue climbed for Sky Solar Holdings (Nasdaq: SKYS).
Tailored Brands (NYSE: TLRD) reported better than expected earnings for the second quarter.
In order to win regulatory approval of Walgreen Boots Alliance's (Nasdaq: WBA) proposed acquisition of Rite Aid (NYSE: RAD), Walgreens will sell between 500 to 1,000 stores.
On the downside
Pier 1 Imports (NYSE: PIR) warned of losses for the second quarter and announced the departure of chief executive Alex W. Smith.
Tractor Supply Company (Nasdaq: TSCO) cut its full year forecast prompting downgrades.
Barnes & Noble (NYSE: BKS) reported lower first quarter revenue that fell short of expectations and trimmed its full year forecast.
In the broad market, declining issues outpaced advancers by a margin of more than 3 to 2 on the NYSE and by nearly 5 to 3 on Nasdaq. The broader S&P 500 lost 6 points to 2,180. Bitcoin climbed $13 to $624.
