The markets recovered early morning losses but continued trading lower with the Dow dropping 59 points to 14,965 as corporate earnings disappointed. Nasdaq added 2 points to 3403.
On the upside
Emmis Communications (Nasdaq: EMMS) reversed year ago losses to post a profit for the first quarter.
Ascendiant Capital Markets initiated coverage of American Superconductor (Nasdaq: AMSC) with a Buy rating.
Shares of Noodles & Co. (Nasdaq: NDLS) doubled in its market debut.
On the downside
Medicare payment cuts to Amedisys (Nasdaq: AMED) in 2014 will average a greater than expected 1.7% prompting a downgrade.
Clean Diesel Technologies (Nasdaq: CDTI) priced its public offering of 1.6 million common shares at the discounted price of $1.245 per share.
Robert W. Baird downgraded Gentiva Health Services (Nasdaq: GTIV) from a Neutral rating to an Underperform rating.
In the broad market, declining issues outpaced advancers by a margin of nearly 10 to 9 on both the NYSE and on Nasdaq. The broader S&P 500 index lost 3 points to 1610.