A widening trade deficit sent the markets down to a lower close with the Dow tumbling 76 points to 15,177. Nasdaq dropped 20 points to 3445.
On the upside
Bargain hunters lifted shares of Cliffs Natural Resources (NYSE: CLF).
Zacks upgraded Mitsubishi UFG Financial Group (NYSE: MTU) from Neutral to Outperform.
G-III Apparel Group (Nasdaq: GIII) reversed year ago losses to post an unexpected profit for the first quarter prompting the company to lift its full year guidance.
On the downside
Shares of Affymax (Nasdaq: AFFY) continued falling over news that the biopharmaceutical would be delisted from Nasdaq.
Array BioPharma (Nasdaq: ARRY) will offer approximately $100 million in senior convertible notes.
Pandora Media (NYSE: P) extended its losses from yesterday when Apple’s (Nasdaq: AAPL) deal with Warner Music Group put Apple one step closer to launching its own music streaming service to compete with Pandora.
In the broad market, declining issues outpaced advancers by a margin of more than 5 to 3 on the NYSE and by more than 2 to 1 on Nasdaq. The broader S&P 500 index fell 9 points to 1631.
