The markets opened mixed with the Dow slipping 22 points to 15,253 while Nasdaq added 2 points to 3474. First time applications for unemployment benefits rose after falling to five year low last week.
On the upside
Cisco (Nasdaq: CSCO) reported higher third quarter earnings that topped analyst estimates.
First quarter earnings slipped for Kohl's (NYSE: KSS) but the results beat expectations.
Tesla Motors (Nasdaq: TSLA) announced plans yesterday to raise $830 million in order to repay Department of Energy loans.
On the downside
Goldman Sachs downgraded Advanced Micro Devices (NYSE: AMD) to a Sell rating.
Ariad Pharmaceuticals (Nasdaq: ARIA) will present data from several studies of ponatinib and AP26113 at the Annual Meeting of the American Society of Clinical Oncology from May 31 to June 4, 2013.
Investors locked in profits on William Lyon Homes (NYSE: WLH), whose stock price soared in its market debut yesterday.
In the broad market, declining issues outpaced advancers by a margin of 10 to 9 on both the NYSE and on Nasdaq. The broader S&P 500 index lost 3 points to 1655.
