The markets recovered early morning losses but continued to trade in negative territory with the Dow losing 28 points to 17,093 despite a drop in jobless claims as the Ukrainian conflict intensified. Nasdaq slipped 7 points to 4562.
On the upside
The Michigan State Police extended and increased its contract with Digital Ally (Nasdaq: DGLY) and submitted its first purchase order valued at over $1.1 million.
Reports circulated that RadioShack (NYSE: RSH) may be exploring a possible refinancing package or a bankruptcy filing.
A Wired report that the iPhone 6 (Nasdaq: AAPL) would support mobile payments lifted shares of cashless payment solutions provider On Track Innovations (Nasdaq: OTIV).
On the downside
BTIG Research analyst Will Frohnhoefer downgraded J.C. Penney (NYSE: JCP) from a Buy rating to a Neutral rating.
Second quarter earnings for Sungy Mobile (Nasdaq: GOMO) plunged to fall far short of analyst expectations and the company forecast current quarter revenue below estimates prompting a downgrade.
Violin Memory (NYSE: VMEM) narrowed losses for the second quarter but revenue dropped to miss estimates.
In the broad market, declining issues outpaced advancers by a margin of more than 7 to 5 on the NYSE and by more than 5 to 3 on Nasdaq. The broader S&P 500 eased a point to 1998. Bitcoin lost $6 to $505.
