The markets retreated to close modestly lower with the Dow losing 27 points to 17,635 as U.S. oil inventories surged to a record high. Nasdaq slipped 9 points to 4,849.
On the upside
Chesapeake Energy (NYSE: CHK) said that it was more efficient at drilling its Utica wells than its peers.
Capnia (Nasdaq: CAPN) widened losses for the fourth quarter but the stock price rose as the company continued to expand commercial sales of its CoSense end-tidal carbon monoxide monitors.
Covenant Transportation Group (Nasdaq: CVTI) expects to report first quarter earnings well above analyst expectations.
On the downside
Blount International (NYSE: BLT) reported a loss for the fourth quarter.
The looming prospect of water rationing in southeastern Brazil sent shares of chemicals maker Braskem (NYSE: BAK) tumbling.
Profit taking weighed down shares of Cytori Therapeutics (Nasdaq: CYTX).
In the broad market, advancing issues outpaced decliners by a margin of nearly 7 to 5 on both the NYSE and on Nasdaq. The broader S&P 500 slipped 3 points to 2040. Bitcoin added $1 to $292.
