The markets reversed course to close modestly lower with the Dow losing 27 points to 17,613 even as crude oil prices edged up. Nasdaq slipped 3 points to 4,661.
On the upside
Bebe Stores (Nasdaq: BEBE) reported that preliminary second quarter same store sales rose approximately 8%.
Jamba (Nasdaq: JMBA) appointed two directors to its board.
IHS (NYSE: IHS) reported sharply higher fourth quarter earnings that beat analyst expectations as expenses dropped.
On the downside
News that California may suspend Ocwen Financial's (NYSE: OCN) mortgage license weighed down shares of Home Loan Servicing Solutions (Nasdaq: HLSS).
KB Home (NYSE: KBH) reported higher fourth quarter earnings and revenue but earnings fell short of analyst expectations and the homebuilder warned of sharply lower margins in the current quarter.
Yamana Gold (NYSE: AUY) entered an agreement in a bought share issue deal to raise funds.
In the broad market, declining issues outpaced advancers by a margin of 10 to 9 on both the NYSE and on Nasdaq. The broader S&P 500 lost 5 points to 2023. Bitcoin dropped $37 to $230.
Markets close lower even as crude oil recovers
January 13, 2015 at 16:26 PM EST