First time applications for unemployment benefits rose modestly but the markets opened higher with the Dow gaining 41 points to 17,735. Nasdaq added 3 points to 4,783.
On the upside
Bloomberg reported that Lionsgate (NYSE: LGF) was close to finalizing a deal to acquire Starz (Nasdaq: STRZA).
Five Star Quality Care (NYSE: FVE) entered a $112.4 million sale and leaseback transaction with Senior Housing Properties Trust (NYSE: SNH).
Bloomberg reported that BMW partnered with Intel (Nasdaq: INTC) and Mobileye (NYSE: MBLY) to develop self driving cars.
On the downside
Pier 1 Imports (NYSE: PIR) fell to a greater than expected loss for the first quarter on lower revenue and cut its full year revenue forecast.
Retreating crude oil prices weighed down shares of Whiting Petroleum (NYSE: WLL).
Ensco (NYSE: ESV) reached an agreement to settle the remaining obligations of a customer's drilling services contract.
In the broad market, declining issues outpaced advancers by a margin of 10 to 9 on the NYSE while decliners barely edged out advancers by a slim margin on Nasdaq. The broader S&P 500 added 2 points to 2,073. Bitcoin climbed $35 to $663.
