Disappointing jobs data weighs down markets

The nation's private employers hired fewer workers than expected in April to weigh the markets down during the midday with Dow tumbling 85 points to 17,842. Nasdaq fell 16 points to 4,922.

On the upside

Herbalife (NYSE: HLF) reported higher first quarter earnings that surpassed analyst expectations by a wide margin and lifted its full year earnings outlook.

Bloomberg reported that Western Union (NYSE: WU) initiated discussions for a possible acquisition of Moneygram International (Nasdaq: MGI).

Fate Therapeutics (Nasdaq: FATE) entered a strategic research collaboration agreement with Juno Therapeutics (Nasdaq: JUNO) to improve genetically engineered T cell immunotherapies.

On the downside

TetraLogic Pharmaceuticals (Nasdaq: TLOG) temporarily halted enrollment in a chronic hepatitis B trial.

Skullcandy (Nasdaq: SKUL) widened first quarter losses and forecast current quarter results below expectations.

Shares of CoLucid Pharmaceuticals (Nasdaq: CLCD) fell on its first trading day.

In the broad market, declining issues outpaced advancers by a margin of more than 5 to 3 on the NYSE and by nearly 5 to 4 on Nasdaq. The broader S&P 500 lost 6 points to 2082. Bitcoin held steady at $235.