The markets opened flat with the Dow slipping 10 points to 18,212 as investors monitored earnings. Nasdaq lost 10 points to 5,299.
On the upside
SAExploration Holdings (Nasdaq: SAEX) received approximately $2.4 million of tax credit certificates from Alaska and access to $15 million of its senior loan facility.
Baker Hughes (NYSE: BHI) reported a smaller than expected loss for the third quarter and expects to cut expenses by $650 million in 2016.
Third quarter earnings surged for AK Steel Holding (NYSE: AKS) to surpass analyst expectations.
On the downside
Dipexium Pharmaceuticals (Nasdaq: DPRX) reported disappointing results from a Phase 3 trial of its mild diabetic foot infection treatment Locilex.
Sonic (Nasdaq: SONC) disappointed with lower fourth quarter revenue that fell short of expectations.
Under Armour (NYSE: UA) reported higher third quarter earnings and revenue that topped analyst estimates but gross margins fell.
In the broad market, declining issues outpaced advancers by a margin of more than 9 to 7 on the NYSE and by more than 7 to 5 Nasdaq. The broader S&P 500 lost 3 points 2,148. Bitcoin gained $4 to $653.
