Home construction soars but markets open flat

Home construction soared 20.2% in April but the markets opened flat with the Dow slipping 7 points to 18,291. Nasdaq eased 2 points to 5,076.

On the upside

Giga-tronics (Nasdaq: GIGA) reported a loss for the fourth quarter but revenue surged and the company announced a $10 million multi-year production order of high performance YIG filters for a major aerospace firm.

Take-Two Interactive Software (Nasdaq: TTWO) reported a narrower than expected loss for the fourth quarter and forecast current quarter results ahead of estimates.

Momo (Nasdaq: MOMO) swung to a profit for the first quarter as revenue surged.

On the downside

Shares of Yingli Green Energy (NYSE: YGE) continued falling after yesterday's disclosure that it may face bankruptcy.

Kearny Financial (Nasdaq: KRNY) completed its stock offering and related conversion from a mutual holding company to the stock holding company.

Urban Outfitters (Nasdaq: URBN) disappointed with lower first quarter earnings that fell short of analyst expectations prompting downgrades.

In the broad market, advancing issues outpaced decliners by a margin of 5 to 4 on the NYSE and by more than 5 to 3 on Nasdaq. The broader S&P 500 added 6 points 2129. Bitcoin eased $1 to $234.