The markets closed sharply lower with the Dow collapsing 217 points to 17,711 as corporate earnings disappointed. Nasdaq plummeted 49 points to 4,760.
On the upside
Encana (NYSE: ECA) may sell some of its shale assets in Western Canada.
Celator Pharmaceuticals (Nasdaq: CPXX) reported a loss for the first quarter and affirmed its plans to submit Vyxeos for FDA approval this year.
A.M. Castle & Co. (NYSE: CAS) widened losses for the first quarter but the stock price rose.
On the downside
Profit taking sank shares of Momo (Nasdaq: MOMO).
The Justice Department is investigating the contracts between Endo International (Nasdaq: ENDP) and pharmacy benefit managers.
Wedbush downgraded Epirus Biopharmaceuticals (Nasdaq: EPRS) from an Outperform rating to a Neutral rating.
In the broad market, declining issues outpaced advancers by a margin of more than 5 to 3 on the NYSE and by nearly 5 to 2 on Nasdaq. The broader S&P 500 tumbled 19 points to 2,064. Bitcoin added $1 to $451.