Markets tank on OPEC forecast cut

The markets went into a tailspin with the Dow tanking 268 points to 17,533 after OPEC cut its 2015 production forecast. Nasdaq collapsed 82 points to 4,684.

On the upside

Calithera Biosciences (Nasdaq: CALA) reported data that supports glutaminase as a potential target in triple negative breast cancer.

Layne Christensen (Nasdaq: LAYN) narrowed third quarter losses more than expected as revenue rose and the company appointed Michael J. Caliel to the position of president and chief executive officer.

RBC Capital Markets upgraded Burger King (NYSE: BKW) from a Sector Perform to an Outperform rating.

On the downside

Vaalco Energy (NYSE: EGY) shut in the Etame-8 well after discovering that the well was producing hydrogen sulfide.

CHC Group (NYSE: HELI) widened losses for the second quarter.

Moody's changed its outlook on Conn's (Nasdaq: CONN) to negative.

In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 1 on both the NYSE and on Nasdaq. The broader S&P 500 plummeted 33 points to 2026. Bitcoin slipped $3 to $345.
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