Breaking News Bar

Business News and Information

Lower Open As Factory Orders Drop

A drop in March factory orders sent the markets tumbling to a lower open with the Dow dropping 73 points to 13,206. Nasdaq fell 16 points to 3033.

On the upside

Ascena Retail Group will pay approximately $890 million to acquire Charming Shoppes (Nasdaq: CHRS). 

Standard Microsystems (Nasdaq: SMSC) will be acquired by Microchip Technology (Nasdaq: MCHP) for approximately $830 million in cash.


American Eagle Outfitters (NYSE: AEO) cited improved sales for raising its first quarter outlook.

On the downside

Chesapeake Energy (NYSE: CHK) narrowed first quarter losses but the results fell short of expectations. Separately, Reuters reported that chief executive Aubrey McClendon formed and lead a private hedge fund that traded commodities produced by Chesapeake.

OpenTable (Nasdaq: OPEN) reported higher first quarter earnings but revenue missed expectations and the company forecast current quarter revenue below estimates. 


Howard Weil downgraded Arch Coal (Nasdaq: ACI) to a Market Perform rating.

In the broad market, declining issues outpaced advancers by a margin of more than 3 to 1 on the NYSE and by more than 2 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks fell 6 points to 809.

Data & News supplied by
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
bottom clear