The markets recovered earlier losses to close modestly lower with the Dow losing 32 points to 15,750 as small business optimism slipped. Nasdaq held steady at 3919.

On the upside 

Heartland Express (Nasdaq: HTLD) purchased Gordon Trucking in a deal valued at approximately $300 million including the assumption of debt.

Inside Mortgage Finance reported that Ellie Mae (NYSE: ELLI) may be acquired.

Motorcar Parts of America (Nasdaq: MPAA) reversed year ago losses to post a profit for the second quarter.

On the downside

Amedisys (Nasdaq: AMED) fell to an unexpected loss for the third quarter as revenue dropped. 

Dean Foods (NYSE: DF) reported sharply higher third quarter earnings but the results fell short of expectations prompting the company to cut its full year earnings guidance.

Shares of James River Coal (Nasdaq: JRCC) continued falling after reporting a wider than expected third quarter loss last week.

In the broad market, declining issues outpaced advancers by a margin of more than 5 to 3 on the NYSE and by more than 2 to 1 on Nasdaq. The broader S&P 500 lost 4 points to 1767.