First time applications for unemployment benefits slipped less than expected to weigh the markets down during the midday with the Dow dropping 89 points to 13,896. Nasdaq lost 14 points to 3153.
On the upside
The New York Times (NYSE: NYT) reported higher fourth quarter earnings and revenue that topped analyst estimates.
Fourth quarter earnings rose for O'Reilly Automotive (Nasdaq: ORLY) to beat expectations as revenue climbed.
Shares of The ExOne (Nasdaq: XONE) surged in its market debut.
On the downside
Alcatel-Lucent (NYSE: ALU) fell to a significant loss for the fourth quarter and announced the departure of chief executive Ben Verwaayen.
TriQuint Semiconductor (Nasdaq: TQNT) fell to a loss for the fourth quarter and warned of losses for the first quarter.
Bunge (NYSE: BG) disappointed by swinging to a fourth quarter loss and announced the retirement of chief executive Alberto Weisser on June 1.
In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 2 on both the NYSE and on Nasdaq. The broader S&P 500 index fell 7 points to 1504.
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