The markets closed sharply lower with the Dow plunging 129 points to 16,401 over concerns of a cooling housing market and mixed corporate earnings. Nasdaq tumbled 57 points to 4,080.
On the upside
Appliance Recycling Centers of America (Nasdaq: ARCI) reported sharply higher first quarter earnings that surged five fold as revenue rose.
Dex Media (Nasdaq: DXM) narrowed first quarter losses on a per share basis while revenue soared.
Carmike Cinemas (Nasdaq: CKEC) narrowed losses for the first quarter as revenue climbed.
On the downside
Quantum Fuel Systems Technologies Worldwide (Nasdaq: QTWW) rival Hexagon Lincoln entered a joint venture with Quantum client Agility Fuel Systems.
Advanced Energy Industries (Nasdaq: AEIS) reported higher first quarter earnings and revenue but the results fell short of analyst expectations and the company forecast current quarter results below estimates.
Johnson & Weaver initiated an investigation into Yelp (NYSE: YELP) for possible securities violations.
In the broad market, declining issues outpaced advancers by a margin of more than 2 to 1 on the NYSE and by more than 7 to 2 on Nasdaq. The broader S&P 500 dropped 16 points to 1867. Bitcoin slipped $2.82 or 0.66% to $425.57.
