The markets closed lower with the Dow tumbling 96 points to 17,737 as crude oil prices continued falling. Nasdaq dropped 39 points to 4,664.
On the upside
Arotech (Nasdaq: ARTX) received approximately $17 million in new orders from various clients.
Hutchinson Technology (Nasdaq: HTCH) will participate in the 17th Annual Needham Growth Conference tomorrow, January 13, in New York.
Shire (Nasdaq: SHPG) will pay a premium of approximately $5.2 billion to purchase NPS Pharmaceuticals (Nasdaq: NPSP).
On the downside
Reuters reported that Chinese rebar and iron ore futures slowed which weighed down shares of AK Steel Holding (NYSE: AKS).
Crude oil prices dropped below $46 per barrel sending shares of Oasis Petroleum (NYSE: OAS) and Whiting Petroleum (NYSE: WLL) lower.
Shares of Micron Technology (Nasdaq: MU) fell after rival SanDisk (Nasdaq: SNDK) cut its fourth quarter revenue guidance.
In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 3 on both the NYSE and on Nasdaq. The broader S&P 500 fell 17 points to 2028. Bitcoin added $1 to $268.
Lower close as oil continued falling
January 12, 2015 at 16:40 PM EST