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Economic Data Weighs Down Markets

An increase in jobless claims along with a sharp drop in April housing starts weighed the markets down to a lower close with the Dow falling 42 points to 15,233. Nasdaq lost 6 points to 3465.

On the upside

Shares of DryShips (Nasdaq: DRYS) soared after rival Eagle Bulk Shipping (Nasdaq: EGLE) posted a profit for the first quarter.

Aegerion (NYSE: AEGR) expects a potential of up to $1 billion in global sales of its recently approved Juxtapid.

Aegean Marine Petroleum Network (NYSE: ANW) reported higher first quarter earnings.

On the downside

ReneSola (NYSE: SOL) reported a wider than expected loss for the first quarter.

NQ Mobile (NYSE: NQ) reported higher first quarter earnings and revenue but the stock price fell.

A Seeking Alpha contributor raised concerns that Orbitz Worldwide (Nasdaq: OWW) may have to restate financials.

  

In the broad market, declining issues outpaced advancers by a margin of more than 3 to 2 on the NYSE and by more than 9 to 7 on Nasdaq. The broader S&P 500 index fell 8 points to 1650.

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