Unexpected Gain In Jobless Claims Weighs Markets Down
An unexpected increase in first time applications for unemployment benefits weighed the markets down to a lower open with the Dow losing 31 points to 12,239. Nasdaq fell 8 points to 2752.
On the upside
Supervalu (NYSE: SVU) reported lower fourth quarter earnings but the results beat analyst expectations.
SodaStream International (Nasdaq: SODA) priced its offering of more than 6 million common shares at $43.50 per share.
NPS Pharmaceuticals (Nasdaq: NPSP) priced its public offering of 11 million common shares at $9.00 per share.
On the downside
Validus (NYSE: VR) issued a loss estimate related to the March 11 earthquake in Japan of approximately $139 million.
Sunrise Senior Living (NYSE: SRZ) will offer $75 million in junior subordinated convertible notes.
Investors locked in profits on Riverbed Technology (Nasdaq: RVBD) whose shares surged yesterday after the company issued preliminary first quarter results that topped analyst estimates.
In the broad market, declining issues outpaced advancers by a margin of more than 5 to 3 on both the NYSE and on Nasdaq. The Russell 2000 which tracks small cap stocks slipped 2 points to 821.
