The markets tumbled to close sharply lower with the Dow plunging 113 points to 17,982 as corporate earnings disappointed and crude oil prices fell. Nasdaq slipped 2 points to 4,945.
On the upside
TerraForm Global (Nasdaq: GLBL) said that it was not part of SunEdison's (NYSE: SUNE) bankruptcy filing and that it was not planning to file for bankruptcy protection.
JMP Securities initiated coverage of Endo International (Nasdaq: ENDP) with a Market Outperform rating.
Viacom (Nasdaq: VIAB) and Dish Network (Nasdaq: DISH) finalized a new multi-year content contract.
On the downside
Independence Contract Drilling (NYSE: ICD) increased its public offering from 8 million to 11.5 million common shares and priced the offering at a discounted price of $3.50 per share.
Hercules Offshore (Nasdaq: HERO) entered a Forbearance Agreement and First Amendment to its Credit Agreement.
Lithia Motors (NYSE: LAD) reported higher first quarter earnings and revenue but the company forecast current quarter and full year earnings that missed expectations.
In the broad market, declining issues outpaced advancers by a margin of more than 5 to 3 on the NYSE and by nearly 10 to 9 on Nasdaq. The broader S&P 500 dropped 10 points to 2,091. Bitcoin climbed $8 to $446.