Crude oil falls below $32

Crude oil fell below $32 per barrel to weigh the markets down during the midday with the Dow dropping 85 points to 16,380. Nasdaq lost 21 points to 4,592.

On the upside

Rodman & Renshaw initiated coverage of Eyegate Pharmaceuticals (Nasdaq: EYEG) with a Buy rating and a $10 price target.

Amaya (Nasdaq: AYA) chief executive David Baazov has indicated that he will make an all-cash offer to acquire the company.

Lumber Liquidators (NYSE: LL) will pay $10 million in a plea agreement with federal prosecutors for providing misleading import papers.

On the downside

Investors locked in profits on TimkenSteel (NYSE: TMST).

Kinder Morgan (NYSE: KMI) closed its acquisition of 15 refined product terminals but the stock price fell as crude oil prices retreated.

TheStreet identified Petrobas (NYSE: PBR) as a distressed stock that is over valued despite its recent slump.

In the broad market, declining issues outpaced advancers by a margin of more than 5 to 3 on the NYSE and by more than 3 to 2 on Nasdaq. The broader S&P 500 dropped 8 points to 1,931. Bitcoin slipped $1 to $376.

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