Plans by the government to sell millions of barrels of crude oil from its strategic reserves sent the markets down to a lower open with the Dow falling 58 points to 17,564. Nasdaq dropped 19 points to 5,014.
On the upside
Integrated Device Technology (Nasdaq: IDTI) reported higher second quarter earnings and revenue that topped analyst estimates and announced plans to acquire privately held ZMDI.
Amkor Technology (Nasdaq: AMKR) reported a better than expected profit for the third quarter.
Third quarter earnings for Huntsman (NYSE: HUN) beat analyst expectations.
On the downside
PricewaterhouseCoopers resigned as Marvell Technology Group’s (Nasdaq: MRVL) external auditor.
Third quarter earnings for GrubHub (NYSE: GRUB) missed estimates and the restaurant delivery service forecast current quarter revenue below expectations.
Rent-A-Center (Nasdaq: RCII) fell to a loss for the third quarter and forecast current quarter as well as full year earnings below estimates.
In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 2 on the NYSE and by more than 2 to 1 on Nasdaq. The broader S&P 500 lost 9 points to 2,061. Bitcoin climbed $11 to $293.
