Markets lower at midday

The markets extended its losses during the midday with the Dow slipping 23 points to 16,883 despite a greater than expected drop in first time applications for unemployment benefits. Nasdaq lost 8 points to 4,354.

On the upside

Shares of Zafgen (Nasdaq: ZFGN) surged in its market debut.

Markit (Nasdaq: MRKT) stock soared on its first trading day.

Enbridge Energy Partners (NYSE: EEP) will sell a 12.6% interest in its Midcoast Operating subsidiary for $350 million in cash.

On the downside

Coach (NYSE: COH) warned of lower revenue for fiscal 2015.

Rite Aid (NYSE: RAD) reported sharply lower first quarter earnings even as revenue rose.

Nokia (NYSE: NOK) began trading ex-dividend today.

In the broad market, advancing issues outpaced decliners by a margin of 9 to 7 on the NYSE while decliners edged out advancers by 7 to 5 on Nasdaq. The broader S&P 500 slipped a point to 1955. Bitcoin eased $1.61 or 0.27% to $601.83.

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