Jobless Claims Tumble, Markets Open Mixed

The markets opened mixed with the Dow rising 4 points to 16,441 even as jobless claims dropped to a seven year low. Nasdaq tumbled 34 points to 4149.

On the upside

Fourth quarter earnings for Rite Aid (NYSE: RAD) beat analyst expectations as revenue rose.

GSO Capital partners invested $150 million in Rentech (Nasdaq: RTK). Rentech also reached a settlement agreement with Concerned Rentech Shareholders.

The Food and Drug Administration granted 510(k) clearance to Baxano Surgical (Nasdaq: BAXS) for its Avance MIS Pedicle Screw System.

On the downside

Imperva (NYSE: IMPV) warned that first quarter earnings and revenue would fall short of previous guidance prompting a downgrade.

Bed Bath & Beyond (Nasdaq: BBBY) disappointed with lower fourth quarter earnings and revenue and cut its first quarter outlook.

Box Ships (NYSE: TEU) priced its public offering of 5 million units at the discounted price of $2.05 per unit.

In the broad market, advancing issues were on par with decliners on the NYSE while decliners outpaced advancers by a margin of more than 5 to 2 on Nasdaq. The broader S&P 500 slipped 5 points to 1866. Bitcoin fell $27.86 or 6.35% to $410.94.

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