Jobless claims drop but markets fall on earnings concerns

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First time applications fell more than expected last week to a 15-year low but the markets dropped with Dow tumbling 91 points to 17,944 over earnings concerns. Nasdaq plunged 49 points to 4,974.

On the upside

Hornbeck Offshore (NYSE: HOS) reported sharply higher first quarter earnings that surpassed analyst expectations.

Shares of Blueprint Medicines (Nasdaq: BPMC) surged on its first trading day.

CARBO Ceramics (NYSE: CRR) fell to a loss for the first quarter but the stock price climbed.

On the downside

FormFactor (Nasdaq: FORM) swung to a profit for the first quarter but the stock price fell.

CTC Media (Nasdaq: CTCM) disappointed with sharply lower first quarter earnings and revenue.

Nokia (NYSE: NOK) reversed year ago losses to post a profit for the first quarter but profits in its network business unit dropped sharply.
 
In the broad market, declining issues outpaced advancers by a margin of nearly 3 to 1 on the NYSE and by more than 5 to 2 on Nasdaq. The broader S&P 500 lost 11 points to 2095. Bitcoin rose $7 to $234.

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