Retreating crude oil prices weighed the markets down to a modestly lower close with the Dow slipping 8 points to 17,069. Nasdaq lost 10 points to 4,562.

On the upside

UTi Worldwide (Nasdaq: UTIW) widened second quarter losses but the stock price climbed.

Methode Electronics (NYSE: MEI) reported sharply higher first quarter earnings and revenue that beat analyst expectations prompting the company to lift its full year outlook.

Christopher & Banks (NYSE: CBK) reversed year ago losses to post a profit for the second quarter as revenue rose.

On the downside

AeroVironment (Nasdaq: AVAV) disappointed with a wider than expected loss for the first quarter.

A federal judged ruled that BP (NYSE: BP) was grossly negligent in the Deepwater Horizon disaster in the Gulf of Mexico and may have to pay up to $18 million in additional fines.

NorthStar Realty Finance (NYSE: NRF) priced its public offering of 45 million common shares at the discounted price of $18.40 per share.

In the broad market, declining issues outpaced advancers by a margin of 2 to 1 on the NYSE and by more than 7 to 5 on Nasdaq. The broader S&P 500 slipped 3 points to 1997. Bitcoin gained $13 to $487.