Disappointingly weak economic growth of 0.1% in the first quarter weighed the markets down to a lower open with the Dow easing a point to 16,533. Nasdaq fell 23 points to 4,080.
On the upside
Exelon will pay approximately $6.83 billion to acquire Pepco Holdings (NYSE: POM).
Energizer Holdings (NYSE: ENR) reported higher second quarter earnings and announced plans to separate into two publicly traded companies.
An independent investigation committee found no evidence of fraud by NQ Mobile (NYSE: NQ).
On the downside
Twitter (NYSE: TWTR) widened first quarter losses and reported slower user growth than expected.
Power Integrations (Nasdaq: POWI) reported higher first quarter earnings and revenue but the results fell short of expectations.
DreamWorks (Nasdaq: DWA) fell to a greater than expected loss for the first quarter due to a significant charge from “Mr. Peabody.”
In the broad market, declining issues outpaced advancers by a margin of nearly 2 to 1 on the NYSE and by nearly 5 to 2 on Nasdaq. The broader S&P 500 lost 4 points to 1873. Bitcoin edged up $1.56 or 0.35% to $443.22.