Follow Townhall Finance!

Get the best of Townhall Finance Daily delivered straight to your inbox


Jobless Claims Fall Less Than Expected, Markets Open Lower

Jobless claims fell last week but analysts expected an even greater drop. The markets opened lower with the Dow tumbling 86 points to 13,040 while Nasdaq fell 21 points to 3083.

On the upside

Galena Biopharma (Nasdaq: GALE) reversed year ago losses to post a profit for the fourth quarter.

Threshold Pharmaceuticals (Nasdaq: THLD) announced several presentations featuring results from studies of its TH-302 hypoxia-targeted drug at the American Association for Cancer Research Annual Meeting from March 31-April 4.

Fourth quarter earnings rose for Red Hat (NYSE: RHT) to top analyst estimates prompting the software company to forecast current quarter and full year results ahead of expectations.

On the downside

The Food and Drug Administration rejected Chelsea Therapeutics' (Nasdaq: CHTP) hypotension medication Northera and recommended additional drug trials.

Best Buy (NYSE: BBY) fell to a loss for the fourth quarter and announced plans to close 50 stores and eliminate 400 jobs.

Federal authorities charged JetBlue (Nasdaq: JBLU) captain Clayton Osbon with interfering with a flight crew.

In the broad market, declining issues outpaced advancers by a margin of more than 4 to 1 on the NYSE and by more than 3 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks fell 7 points to 827.

Stock Market XML and JSON Data API provided by FinancialContent Services, Inc.
Nasdaq quotes delayed at least 15 minutes, all others at least 20 minutes.
Markets are closed on certain holidays. Stock Market Holiday List
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
Press Release Service provided by PRConnect.
Stock quotes supplied by Six Financial
Postage Rates Bots go here