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Mixed open even as jobless claims tumble

The markets opened mixed with the Dow rising 27 points to 17,218 while Nasdaq fell 14 points to 4,623 even as jobless claims dropped to 15-year low.

On the upside

Kate Spade (NYSE: KATE) will discontinue the Kate Spade Saturday business to focus on its flagship kate spade new york brand and announced joint ventures with The Lane Crawford Joyce Group to expand growth in China.

Genetic Technologies (Nasdaq: GENE) announced that up to six new breast diagnostic/treatment centers would begin offering its BREVAGenplus predictive risk test.

Second quarter earnings fell for Coach (NYSE: COH) but the results were better than expected.

On the downside

Alibaba Group (NYSE: BABA) reported lower third quarter earnings as revenue fell short of analyst expectations.

Qualcomm (Nasdaq: QCOM) reported higher first quarter earnings and revenue but the company lowered its full year outlook.

The Food and Drug Administration determined that Venaxis' (Nasdaq: APPY) APPY1 Test was not equivalent to current care.

In the broad market, advancing issues outpaced decliners by a margin of 7 to 4 on the NYSE and by 3 to 2 on Nasdaq. The broader S&P 500 eased a point to 2000. Bitcoin lost $4 to $223.
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