Stocks lost highs to end lower after crude oil tumbled to a one-month low. Prices came under pressure after non-OPEC members showed reluctance over the weekend to join OPEC countries in a production freeze arrangement. Producers will meet again in November. Southern Co. (SO) led the utilities sector higher after beating Wall Street estimates in its third quarter. The electricity company posted a 16% surge in quarterly revenue. Brocade Communications (BRCD) shot higher in afternoon trading on reports it is looking to sell itself. Broadcom (BRCM) is a potential interested party. Valeant Pharmaceuticals  (VRX) dropped sharply in the final hour of trading on reports its former CEO and CFO are the focus of a criminal probe. The story is still developing. TheStreet's Keris Lahiff reports from Wall Street.

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