The markets retreated to close lower with the Dow falling 41 points to 20,648 after the Federal Reserve indicated that may change its bond investment policy. Nasdaq dropped 34 points to 5,864.
On the upside
Innocoll Holdings (Nasdaq: INNL) will be acquired by Gurnet Point for a premium of up to approximately $290 million.
Shares of Peabody Energy (NYSE: BTU) surged after emerging from Chapter 11 bankruptcy protection on Monday.
The Greenbrier Companies (NYSE: GBX) reported better than expected earnings for the second quarter and entered a Memorandum of Understanding to provide Mitsubishi UFJ Lease & Finance with 6,000 new railcars.
On the downside
Shares of Top Ships (Nasdaq: TOPS) extended its losses.
Aralez Pharmaceuticals (Nasdaq: ARLZ) implemented a cost savings program that includes cutting its U.S. workforce by 32% and realigning certain financial resources.
Prescience Point Research Group said that Celadon Group (NYSE: CGI) was worthless.
In the broad market, declining issues outpaced advancers by a margin of nearly 2 to 1 on the NYSE and by more than 5 to 2 on Nasdaq. The broader S&P 500 index fell 7 points to 2,352. Bitcoin added $3 to $1127.
