Skip to main content

Closing Bell: SunEdison Sinks on TerraForm Questions; Stocks End Higher

U.S. markets ended Tuesday's session in the green and oil prices also rebounded from six-year lows.

Markets followed oil again but this time the direction was up. Crude oil prices rebounded from six-year lows to regain a level above $36 a barrel. The Dow Jones Industrial Average closed more than 100 points higher. SunEdison (SUNE) tumbled after hedge fund Appaloosa Management requested documents from its holding company TerraForm Power (TERP). Appaloosa criticized TerraForm's relationship with its parent company, accusing it of acting within SunEdison's interests rather than its own. Abercrombie & Fitch (ANF) jumped after promoting Fran Horowitz, head of its Hollister brand, to the new position of merchandising chief. Horowitz previously held top positions at retail companies Ann Taylor Loft and Bloomingdale's. And, a disappointing quarter for Steelcase (SCS) prompted a selloff in the company's shares. TheStreet's Keris Lahiff reports from Wall Street.