Major retailers disappointed by reporting weak earnings to send the markets tumbling to a sharply lower close with the Dow plunging 137 points to 16,374. Nasdaq dropped 28 points to 4,096.
On the upside
Ophthotech (Nasdaq: OPHT) licensed the marketing rights for its experimental eye treatment Fovista to Novartis.
Insmed (Nasdaq: INSM) reported positive results from a Phase 2 study of its lung infection treatment ARIKAYCE.
DealReporter said that Doral Financial (NYSE: DRL) would sell its assets with the assistance of an advisor.
On the downside
Chimerix (Nasdaq: CMRX) will offer 6.2 million common shares through a public offering.
Intercept Pharmaceuticals (Nasdaq: ICPT) withheld clinical trial information from the public about its liver disease treatment obeticholic acid.
Disappointing results from Dick's Sporting Good's (NYSE: DKS) golf business weighed down shares of Callaway Golf (NYSE: ELY).
In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 2 on the NYSE and by 3 to 1 on Nasdaq. The broader S&P 500 dropped 12 points to 1872. Bitcoin gained $40.12 or 8.32% to $482.16.
