The markets opened sharply lower with the Dow plummeting 174 points to 17,556 as crude oil prices continued to fall. Nasdaq tumbled 30 points to 5,071.
On the upside
Onconova Therapeutics (Nasdaq: ONTX) reported positive data from an ongoing Phase 1/2 clinical trial of oral rigosertib and azacitidine in higher-risk myelodysplastic syndromes.
The Wall Street Journal reported that Jarden (NYSE: JAH) and Newell Rubbermaid (NYSE: NWL) engaged in discussions for a possible merger.
Citigroup upgraded FireEye (Nasdaq: FEYE) from a Neutral rating to a Buy rating.
On the downside
United Natural Foods (Nasdaq: UNFI) disappointed with lower first quarter earnings that fell short of expectations.
RAIT Financial Trust (NYSE: RAIT) lowered its quarterly cash dividend to 9 cents per common share.
Outerwall (Nasdaq: OUTR) blamed lower Redbox revenue for cutting its full year forecast.
In the broad market, declining issues outpaced advancers by a margin of more than 4 to 1 on the NYSE and by nearly 7 to 2 on Nasdaq. The broader S&P 500 dropped 14 points to 2,077. Bitcoin held steady at $390.
