An oil glut continued to weigh down crude oil prices. The markets tumbled to close lower with the Dow plummeting 162 points to 17,568. Nasdaq slipped 3 points to 5,098.
On the upside
Pieris Pharmaceuticals (Nasdaq: PIRS) entered a research collaboration and license agreement with Roche.
The Food and Drug Administration approved Eagle Pharmaceuticals’ (Nasdaq: EGRX) BENDEKA to treat chronic lymphocytic leukemia and indolent B-cell non-Hodgkin lymphoma.
Bargain hunters lifted shares of Bon-Ton Stores (Nasdaq: BONT).
On the downside
Shares of FuelCell Energy (Nasdaq: FCEL) continued falling.
Harmonic (Nasdaq: HLIT) offered approximately $75 million in cash to acquire Thomson Video Networks.
Seadrill Partners (NYSE: SDLP) extended its contracts with Chevron Thailand Exploration and Production for the T-15 and T-16 tender rigs but the dayrate was lowered.
In the broad market, declining issues outpaced advancers by a margin of more than 2 to 1 on the NYSE and by more than 7 to 5 on Nasdaq. The broader S&P 500 dropped 14 points to 2,062. Bitcoin added $2 to $394.