Nuclear negotiations extended, markets collapse

Crude oil prices dropped as nuclear negotiations with Iran extended beyond the original deadline. The markets slumped to close sharply lower the Dow collapsing 200 points to 17,776. Nasdaq plunged 46 points to 4,900.

On the upside

Craig-Hallum initiated coverage of Cambrex (NYSE: CBM) with a Buy rating and a $50 price target.

MLV & Co. upgraded Coronado Biosciences (Nasdaq: CNDO) from a Hold rating to a Buy rating.

Piper Jaffray lifted its price target on J.C. Penney (NYSE: JCP) from $13 to $14.

On the downside

Shares of OvaScience (Nasdaq: OVAS) extended its losses.

SAIC (NYSE: SAIC) reported higher fourth quarter earnings and revenue that topped analyst estimates but the stock price dropped.

Concerns of a coal glut weighed down shares of Peabody Energy (NYSE: BTU).

In the broad market, declining issues outpaced advancers by a margin of more than 7 to 5 on the NYSE and by nearly 5 to 3 on Nasdaq. The broader S&P 500 tumbled 18 points to 2067. Bitcoin slipped $2 to $243.
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