A bumpy day in the markets may be better than a truly down day. The major indices managed to recoup their intraday losses but ended still in the red and largely flat. The S&P 500 closed down 0.07%, the Dow Jones Industrial Average closed down 0.08%, and the Nasdaq closed down 0.35%.
Meanwhile, WTI crude oil plunged below $29 a barrel and took a lot of energy names along with it for the ride, including members of Real Money's "Stressed Out" index such as Ultra Petroleum (UPL), down 12%, and Southwestern Energy (SWN), down 10%.
Also in energy, Anadarko Petroleum (APC) cut its quarterly dividend for the first time to $0.05 a share from $0.27 a share. In a statement announcing the dividend cut, CEO Al Walker said the move frees up $450 million in cash that can be used to "enhance our operations and financial flexibility."
Meanwhile, Viacom (VIAB) was one of the biggest laggards in the S&P 500 as it closed down 21.48% after the company reported earnings for its fiscal first quarter. Adjusted earnings were $1.18 a share on revenues of $3.1 billion, which represents a 9% decrease in earnings and a 6% decrease in revenue from the fourth quarter of 2014. Part of the decline was attributed to "significant industry disruption" or -- put another way -- cord cutting.
Deutsche Bank (DB) continued to feel stress on Tuesday as it assured investors it has sufficient capital to service its contingent convertible bonds, which are also known as "coco bonds." (For a Real Money primer on coco bonds, click here.) Shares of the German bank closed down 1% on Tuesday but were down over 4% in intraday trading.
Elsewhere, Herbalife (HLF) managed to eke out a 1.3% gain on Tuesday despite activist investor Bill Ackman's webcast on Tuesday titled "American Dream Denied" in which he continued his allegations of the company being a pyramid scheme. The webcast also featured a cartoon presentation titled "How to Spot a Pyramid Scheme," Real Money's James Passeri reported.
On Wednesday, Real Money will be watching as Twitter (TWTR) reports earnings after the close.
