Markets lower as crude oil slips

Crude oil prices slipped to weigh the markets down during the midday with the Dow falling 55 points to 18,229. Nasdaq edged up a point to 5,091.

On the upside

Eagle Rock Energy Partners (Nasdaq: EROC) will merge with a subsidiary of Vanguard National Resources (Nasdaq: VNR).

Shares of Shopify (NYSE: SHOP) continued soaring.

Youku Tudou (NYSE: YOKU) stock extended its gains.

On the downside

Otonomy (Nasdaq: OTIC) reported disappointing results from a Phase 2b trial of its unilateral Meniere's disease treatment OTO-104.

Chardan Capital Markets initiated coverage of Esperion Therapeutics (Nasdaq: ESPR) with a Sell rating.

Marvell Technology Group (NYSE: MRVL) reported sharply lower first quarter earnings as revenue fell and forecast current quarter results below expectations.

In the broad market, declining issues outpaced advancers by a margin of more than 5 to 3 on the NYSE and by nearly 7 to 5 on Nasdaq. The broader S&P 500 slipped 3 points to 2127. Bitcoin added $1 to $236.