Lower close as crude oil slips

The markets trimmed its losses but still closed lower with the Dow tumbling 75 points to 17,492 as crude oil prices slipped. Nasdaq plummeted 75 points to 5,022.

On the upside

AeroVironment (Nasdaq: AVAV) swung to a greater than expected profit for the fourth quarter as revenue rose.

Shares of Tanga Resources (NYSE: NGLS) continued climbing.

Investors welcomed Kinder Morgan’s (NYSE: KMI) decision to slash its dividend.

On the downside

InterCloud Systems (Nasdaq: ICLD) received more than $3 million in new contracts but the stock price fell as the company considers selling some of its key assets.

Apple (Nasdaq: AAPL) abandoned plans for its Apple TV subscription service.

Netflix (Nasdaq: NFLX) expanded its parental leave benefits to include hourly workers.

In the broad market, declining issues outpaced advancers by a margin of more than 3 to 2 on the NYSE and by nearly 7 to 3 on Nasdaq. The broader S&P 500 dropped 15 points to 2,047. Bitcoin soared $20 to $414.

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