Markets fall despite drop in jobless claims

The markets traded lower during the midday with the Dow falling 24 points to 16,888 even as first time applications for unemployment benefits dropped to its lowest level in 42 years. Nasdaq plunged 50 points to 4,740.

On the upside

Bloomberg wrote that Apollo Management may consider a bid for Tronox (NYSE: TROX).

Dell was reportedly engaged in discussions to acquire EMC (NYSE: EMC).

Elliott Management acquired a 6.6% stake in Polycom (Nasdaq: PLCM) and suggested a merger between Polycom and Mittel Networks (Nasdaq: MITL).

On the downside

Ocean Rig (Nasdaq: ORIG) said that oil market continued to be challenging and the company was considering disposing or scrapping some of its rigs.

The launch of Amazon’s (Nasdaq: AMZN) Handmade at Amazon weighed down shares of eBay (Nasdaq: EBAY).

Investors locked in profits on Ambarella (Nasdaq: AMBA).

In the broad market, advancing issues outpaced decliners by a margin of more than 2 to 1 on the NYSE and by more than 10 to 9 on Nasdaq. The broader S&P 500 slipped 3 points to 1,992. Bitcoin edged up a fraction to $243.

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