Crude oil hovers near $29, markets drop

The markets turned negative during the midday with the Dow tumbling 95 points to 15,931 as crude oil prices slipped to hover near $29 per barrel. Nasdaq dropped 29 points to 4,254.


On the upside


Belerophon Therapeutics (Nasdaq: BLPH) reported positive results from the final analysis of a Phase 2 long-term extension study of INOpulse to treat pulmonary arterial hypertension.


Nymox Pharmaceutical (Nasdaq: NYMX) reported upbeat results from a Phase 2 clinical trial of its prostate cancer treatment NX03-0040.


MaxLinear (NYSE: MXL) jointly developed smart MoCA and Wi-Fi home network technologies with Celeno Communications to deliver whole home gigabit wi-fi.


On the downside


Bristow Group (NYSE: BRS) swung to a profit for the third quarter but revenue fell and the company slashed its quarterly dividend.


Fourth quarter earnings for RetailMeNot (Nasdaq: SALE) plunged as revenue fell.


Falling crude oil prices weighed down shares of Unit (NYSE: UNT).


In the broad market, declining issues outpaced advancers by a margin of more than 5 to 2 on the NYSE and by more than 5 to 3 on Nasdaq. The broader S&P 500 lost 9 points to 1,844. Bitcoin rose $3 to $375.

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