First time applications for unemployment benefits unexpectedly rose last week to weigh down the markets with the Dow tumbling 100 points to 9673. Nasdaq fell 23 points to 2086.

On the upside

Eisai will have exclusive distribution rights to Arena Pharmaceuticals' (Nasdaq: ARNA) weight loss drug.

Green Equity Investors purchased a 9.5% stake in BJ's Wholesale Club (NYSE: BJ), approximately 5.1 million shares.

Christopher & Banks (NYSE: CBK) reported higher first quarter earnings that topped analyst estimates.

On the downside

The Securities and Exchange Commission announced an investigation into the Medicare billing practices of Amedisys (Nasdaq: AMED) and Gentiva Health Services (Nasdaq: GTIV).

Medicare's Coverage and Analysis Group expects to spend an entire year reviewing Dendreon's (Nasdaq: DNDN) prostate cancer treatment Provenge.

General Electric (NYSE: GE) invested $500 million to become a majority owner of 11 wind energy farms in Idaho.

In the broad market, declining issues outpaced advancers by a margin of nearly 3 to 1 on the NYSE and by more than 7 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks dropped 10 points to 599.