Despite recovering crude oil prices, the markets closed lower with the Dow falling 47 points to 17,550 over continued concerns of an oil glut. Nasdaq lost 9 points to 5,105.
On the upside
LendingTree (Nasdaq: TREE) swung to a better than expected profit for the second quarter and lifted its full year outlook.
Metro Bancorp (Nasdaq: METR) will be acquired by FNB for a premium of approximately $474 million.
Tencent Holdings offered $622 million to acquire eLong (Nasdaq: LONG).
On the downside
ID Systems (Nasdaq: IDSY) widened second quarter losses as revenue fell.
Second quarter earnings plunged for TriMas (Nasdaq: TRS) to fall short of expectations and the company forecast full year earnings below estimates.
Nautilus (NYSE: NLS) reported higher second quarter earnings but the stock price tumbled.
In the broad market, declining issues outpaced advancers by a margin of more than 10 to 9 on the NYSE while decliners were on par with advancers on Nasdaq. The broader S&P 500 lost 4 points to 2093. Bitcoin added $1 to $283.
Lower close over oil glut concerns
August 04, 2015 at 18:57 PM EDT