Plunge In New Home Sales Weighs Down Markets

New home sales plunged in March to weigh the markets down to a lower open with the Dow slipping 11 points to 16,502. Nasdaq lost 21 points to 4,139.

On the upside

Skyworks Solutions (Nasdaq: SWKS) reported higher second quarter earnings and revenue that topped analyst estimates and forecast current quarter results ahead of expectations.

Supervalu (NYSE: SVU) swung to a stronger than expected profit for the fourth quarter as revenue rose.

Cognex (Nasdaq: CGNX) received two purchase orders valued at more than $40 million.

On the downside

Cree (Nasdaq: CREE) reported higher third quarter earnings and revenue but gross margin slipped.

Third quarter earnings and revenue rose for VMware (NYSE: VMW) but a number of enterprise license agreements were delayed.

International Game Technology (NYSE: IGT) reported sharply lower second quarter earnings as revenue fell.

In the broad market, advancing issues were on par with decliners on the NYSE while decliners outpaced advancers by more than 5 to 3 on Nasdaq. The broader S&P 500 eased a point to 1877. Bitcoin slipped $1.70 or 0.35% to $481.44.

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