The markets extended its losses during the midday with the Dow plummeting 130 points to 17,585 as crude oil prices slipped below $37 per barrel. Nasdaq plunged 50 points to 4,870.
On the upside
Ollie's Bargain Outlet Holdings (Nasdaq: OLLI) reported better than expected earnings for the fourth quarter prompting an upgrade.
Zacks Equity Research identified Vanguard Natural Resources (Nasdaq: VNR) as one of four growth stocks that has fallen to its 52-week low.
Relypsa (Nasdaq: RLYP) has engaged the services of Centerview Partners to explore a potential sale of the company.
On the downside
Profit taking weighed down shares of Ocean Rig (Nasdaq: ORIG).
DragonWave (Nasdaq: DRWI) will sell approximately 600,000 common shares through a registered direct offering.
Falling crude oil prices weighed down shares of BP Prudhoe Bay Royalty Trust (NYSE: BPT).
In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 2 on the NYSE and by 5 to 2 on Nasdaq. The broader S&P 500 dropped 19 points to 2,047. Bitcoin held steady at $419.
