U.S. stocks were down slightly midday, as jobs growth in the service sector hit its lowest level in a year and unemployment claims rose. Initial jobless claims for the week of March 29 increased by 16,000 to 326,000, vs. the Street’s estimate of 317,000. In corporate news, Google’s unusual stock split takes effect today with the new Class C shares trading under its historic stock ticker GOOG, and the Class A shares trading under the new ticker GOOGL. Finally, Juniper Networks was up after announcing a 6% headcount reduction.
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