Rise In Jobless Claims Weighs Down Markets
An increase in first time applications for jobless benefits weighed the markets down to a lower close with the Dow falling 49 points to 13,860. Nasdaq held steady at 3142.
On the upside
Shares of Tri Pointe Homes (NYSE: TPH) soared on its first trading day.
Las Vegas Sands (NYSE: LVS) reported higher fourth quarter earnings and revenue on impressive gains at its Macau properties.
Fourth quarter earnings and revenue for Mead Johnson (NYSE: MJN) rose to surpass analyst expectations.
On the downside
Dow Chemical (NYSE: DOW) widened fourth quarter losses more than expected on significant restructuring charges. Time Warner Cable (Nasdaq: TWC) warned that full year results would fall short of expectations as margins shrank.
Harman International Industries (NYSE: HAR) disappointed with lower second quarter earnings and revenue, cut its full year guidance and announced the elimination of up to 1,000 jobs.
In the broad market, advancing issues barely edged out decliners by a slim margin on the NYSE while advancers outpaced decliners by nearly 5 to 3 on Nasdaq. The broader S&P 500 index slipped 3 points to 1498.
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