Flat open as crude oil eases

The markets opened flat with the Dow slipping 7 points to 24,657 as crude oil prices eased. Nasdaq fell 18 points to 7220.

On the upside

Ericsson (Nasdaq: ERIC) narrowed losses for the first quarter.

Jana Partners acquired a 9.1% stake in Pinnacle Foods (NYSE: PF).

Cleveland-Cliffs (NYSE: CLF) reported better than expected results for the first quarter.

On the downside

Skechers USA (NYSE: SKX) reported first quarter earnings and revenue that fell short of expectations and forecast second quarter results below analyst estimates.

Mattel (Nasdaq: MAT) named Ynon Kreiz to replace chief executive Margaret Georgiadis.

Atlassian (Nasdaq: TEAM) narrowed losses for the third quarter more than expected but the company forecast current quarter earnings below estimates.

In the broad market, declining issues outpaced advancers by a margin of more than 3 to 2 on the NYSE and by more than 5 to 3 on Nasdaq. The broader S&P 500 eased a point to 2,692. Bitcoin surged $199 to $8,476.

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