First time applications for unemployment benefits fell less than expected to weigh the markets down to a lower open with the Dow slipping 19 points to 10,877. Nasdaq edged up a fraction to 2425.
On the upside
AuthenTec (Nasdaq: AUTH) widened first quarter losses but revenue climbed to beat analyst expectations.
Wedbush Morgan upgraded Dynavax Technologies (Nasdaq: DVAX).
Second quarter earnings more than doubled for Whole Foods (Nasdaq: WFMI) to top analyst estimates as revenue rose.
On the downside
FBR Capital downgraded RAIT Financial Trust (NYSE: RAS).
Western Gas Partners (NYSE: WES) priced its offering of 4 million common units at $22.24 per unit.
Ramco-Gershenson (NYSE: RPT) priced its offering of 6 million common shares at $11.50 per share.
In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 2 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks fell 4 points to 712.
