Lower Close As Jobless Claims Rise

An uptick in jobless claims weighed the markets down to a lower close with the Dow dropping 81 points to 14,537. Nasdaq tumbled 38 points to 3166.

On the upside

Peabody Energy's better than expected results and upbeat outlook for coal demand lifted shares of Alpha Natural Resources (NYSE: ANR).

First quarter earnings nearly tripled for Overstock.com (Nasdaq: OSTK) to surpass analyst expectations by a wide margin as revenue climbed.

Shares of Lattice Semiconductor (Nasdaq: LSCC) rose ahead of its earnings release after market close.

On the downside

Cypress Semiconductor (Nasdaq: CY) widened first quarter losses as revenue fell.

Fairchild Semiconductor (NYSE: FCS) fell to an unexpected loss for the first quarter on lower revenue.

Sinovac Biotech (Nasdaq: SVA) fell to a loss for the fourth quarter as revenue dropped.

In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 4 on the NYSE and by nearly 5 to 3 on Nasdaq. The broader S&P 500 index fell 10 points to 1541.

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