The markets rebounded in late afternoon trading to close modestly lower with the Dow slipping 12 points to 16,014 as crude oil prices settled below $29 per barrel. Nasdaq lost 14 points to 4,268.

On the upside

Belden (NYSE: BDC) impressed with sharply higher fourth quarter earnings that beat analyst expectations.

Cambrex (NYSE: CBM) reported better than expected earnings for the fourth quarter as revenue rose.

Fourth quarter earnings surged for Tenneco (NYSE: TEN).

On the downside

Brookdale Senior Living (NYSE: BKD) widened losses more than expected for the fourth quarter.

Keefe Bruyette downgraded NorthStar Realty Finance (NYSE: NRF) from an Outperform rating to a Market Perform rating.

HCP (NYSE: HCP) fell to a loss for the fourth quarter and forecast disappointing 2016 funds from operations.

In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 3 on the NYSE and by more than 5 to 3 on Nasdaq. The broader S&P 500 slipped a point to 1,852. Bitcoin rose $3 to $376.