An unexpected gain in first time jobless claims sent the markets tumbling to a sharply lower open with the Dow plummeting 257 points to 10,187. Nasdaq slumped 68 points to 2229.
On the upside
Aruba Networks (Nasdaq: ARUN) narrowed third quarter losses more than expected as revenue climbed and forecast fourth quarter results ahead of estimates.
Advanced Auto Parts (NYSE: AAP) reported higher first quarter income that beat expectations as sales rose.
Fourth quarter earnings rose to surpass analyst estimates for Dollar Tree (Nasdaq: DLTR).
On the downside
Antigenics (Nasdaq: AGEN) announced positive results from a clinical trial of its brain cancer vaccine Oncophage but the stock price fell.
Netease (Nasdaq: NTES) disappointed with first quarter results that fell short of expectations.
Hot Topic (Nasdaq: HOTT) swung to a loss for the first quarter due to a drop in revenue.
In the broad market, declining issues outpaced advancers by a margin of more than 13 to 1 on the NYSE and by more than 11 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks plunged 21 points to 653.
