Crude oil continues to fall, markets close lower

Crude oil prices continued to fall, weighing the markets down to a sharply lower close with the Dow plunging 135 points to 23,274. Nasdaq fell 31 points to 6,706.


On the upside


Third quarter earnings and revenue surged for SORL Auto Parts (Nasdaq: SORL).


Drive Shack (NYSE: DS) will open a 66,000-square-foot eatertainment location in Orlando in January with hitting bays, driving range, restaurant, bar and event center.


Avid Technology (Nasdaq: AVID) introduced its new Avid Artist DNxIP that enables the transfer of SMPTE standard HD video over 10 GigE IP networks.

On the downside


Acorda Therapeutics (Nasdaq: ACOR) halted new enrollments in its Phase 3 study of tozadenant to treat Parkinson's disease after five deaths.


Johnson & Johnson (NYSE: JNJ) will sell its entire stake of more than 18.3 million shares of Achillion Pharmaceuticals (Nasdaq: ACHN).


SandRidge Energy (NYSE: SD) will acquire Bonanza Creek Energy (NYSE: BCEI) in a cash and stock transaction valued at approximately $746 million.


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 fell 13 points to 2,564. Bitcoin rocketed $681 to $7,265.


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