Unexpected rise in jobless claims weighs down markets

The markets opened lower with the Dow falling 49 points to 17,352 as first time applications for unemployment benefits unexpectedly rose. Nasdaq slipped 9 points to 5,034.

On the upside

Eleven Biotherapeutics (Nasdaq: EBIO) narrowed losses for the second quarter.

One Horizon Group (Nasdaq: OHGI) will be the exclusive supplier of Voice over IP services to KeyIdea Information Technology.

Leyard Optoelectronic will acquire Planar Systems (Nasdaq: PLNR) for a premium of approximately $156.8 million.

On the downside

Shake Shack (NYSE: SHAK) priced its secondary offering of 4 million common shares at the discounted price of $60 per share.

Kohl’s (NYSE: KSS) disappointed with lower second quarter earnings that fell short of analyst expectations and forecast full year earnings below estimates.

Morgan Stanley initiated coverage of Rockwell Medical (Nasdaq: RMTI) with an Underweight rating and a $7 price target.

In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 2 on the NYSE and by more than 9 to 7 on Nasdaq. The broader S&P 500 lost 6 points to 2,079. Bitcoin slipped $4 to $262.

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