The Dow Jones industrial average (^DJI) fell 12 points, the Standard & Poor's 500 index (^GPSC) lost 4 and the Nasdaq composite (^IXIC) dropped 34 points.
Telecom and tech stocks led the decline. Many of the Nasdaq's momentum plays were a bit played out today. Netflix (NFLX) and Tesla Motors (TSLA) both fell about 5 percent. Facebook (FB), ahead of its earnings report, lost 2.5 percent, Amazon.com (AMZN) and Google (GOOG) lost 1.5 percent.
Amgen (AMGN) slid 5 percent after an earnings miss. Its net tumbled from a year ago. But fellow biotech Gilead Sciences (GILD) gained 1.5 percent as its net tripled, led by strong sales of its controversial and very expensive drug to treat hepatitis.
Delta Air Lines (DAL) rose 6 percent, leading the transportation sector higher. It reported strong earnings despite the slew of flight cancellations during the winter.
The Internet money transfer firm Xoom (XOOM) did just that -- zoomed ahead by 17 percent after beating expectations. And the shoe retailer, Skechers USA (SKX), rose 4.5 percent. Over the past year, it's raced ahead by more than 70 percent.
On the downside:
- AT&T (T) fell 4 percent even though its net was in line with expectations.
- VMware (VMW) fell 9 percent.
- EMC (EMC), off 3 percent.
- Juniper Networks (JNPR) fell 4 percent.
- Intuitive Surgical (ISRG) slid 11 percent.
Elsewhere, Plug Power (PLUG) fell 4.5 percent after announcing a secondary stock offering of 15 million shares, and Elizabeth Arden (RDEN) jumped 12 percent on word that it may be a takeover target.
What to Watch Thursday:
- The Commerce Department reports durable goods orders for March and jobless claims for the week ending April 19 -- both at 8:30 a.m. Eastern time.
- Freddie Mac releases weekly mortgage rates at 10 a.m.
- 3M (MMM)
- Aetna (AET)
- Altria Group (ALTR)
- Amazon.com (AMZN)
- American Airlines Group (AAL)
- Caterpillar (CAT)
- General Motors (GM)
- Microsoft (MSFT)
- Southwest Airlines (LUV)
- Starbucks (SBUX)
- Starwood Hotels & Resorts Worldwide (HOT)
- United Airlines (UAL)
- UPS (UPS)
- Verizon Communications (VZ)
- Visa (V)