Rising home prices lift markets

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An increase in January home prices lifted the markets to a higher open with the Dow gaining 40 points to 20,591. Nasdaq rose 3 points to 5,844. 


On the upside


The Korean Ministry of Food and Drug Safety approved Catalyst Biosciences' (Nasdaq: CBIO) Investigational New Drug Application for CB 2679d/ISU304.


Akers Biosciences (Nasdaq: AKER) received an initial order for its rapid cholesterol self-test from First Check Diagnostics.


Power Solutions (Nasdaq: PSIX) entered a strategic investment and collaboration agreement with Weichai America.


On the downside


Cryoport (Nasdaq: CRYX) priced its public offering of 5.5 million common shares at the discounted price of $2.00 per share.

 

Investors locked in profits on Regulus Therapeutics (Nasdaq: RGLS).

 

Qatar Investment Authority will sell up to $900 million worth of its holdings in Banco Santander's (NYSE: BSBR) Brazilian unit.


In the broad market, declining issues outpaced advancers by a margin of nearly 10 to 9 on the NYSE and by a margin of 9 to 7 on Nasdaq. The broader S&P 500 index rose 3 points to 2,345. Bitcoin climbed $23 to $1063.


The markets closed mixed with the Dow falling 45 points to 20,550 over uncertainty about the effectiveness of the Trump administration. Nasdaq gained 11 points to 5,840. 


On the upside


Shares of Cancer Genetics (Nasdaq: CGIX) climbed for the fourth day.


Bargain hunters lifted shares of Superconductor Technologies (Nasdaq: SCON).


Ziopharm Oncology (Nasdaq: ZIOP) received positive guidance from the Food and Drug Administration at its End-of-Phase 2 meeting for Ad-RTS-hIL-12 gene therapy candidate.


On the downside


Retreating crude oil prices weighed down shares of oilfield services providers Keane Group (NYSE: FRAC) and ProPetro Holding (NYSE: PUMP).

 

Investors locked in profits on Sierra Wireless (Nasdaq: SWIR).

 

Shares of Westport Fuel Systems (Nasdaq: WPRT) fell ahead of its earnings release after market close.


In the broad market, advancing issues were on par with decliners on the NYSE while advancers edged out decliners by a margin of 5 to 4 on Nasdaq. The broader S&P 500 index slipped 2 points to 2,341. Bitcoin soared $72 to $1029.


Uber grounds autonomous cars

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The markets traded mixed during the midday with the Dow falling 56 points to 20,539 while Nasdaq rose 7 points to 5,836. 


A car crash Friday evening in Arizona prompted Uber to ground all self driving vehicles over the weekend. Developmental operations resumed in San Francisco today but autonomous cars in Arizona and Pittsburgh will continue to sit idle. A self driving Volvo SUV was hit by a car that failed to yield while making a turn.


Samsung will sell refurbished Galaxy Note 7 smartphones and recycle 4 million Note 7 devices. The Korean electronics firm was forced to recall all Galaxy Note 7 phones worldwide last year after numerous reports of overheating and exploding batteries. Samsung will decide where the refurbished devices will be sold after meeting with the appropriate regulatory agencies.


Facebook's Messenger will follow the lead of Google Maps and add a live location sharing feature. Live Location will allow location sharing for one hour. The feature was developed once Messenger learned that a user's location was the most frequent topic of conversation on the app.


In the broad market, declining issues outpaced advancers by a margin of more than 9 to 7 on the NYSE while advancers were on par with decliners on Nasdaq. The broader S&P 500 index lost 4 points to 2,339. Bitcoin leaped $76 to $1033.


Failure of the Republicans to repeal Obamacare last Friday sent the markets tumbling to open sharply lower with the Dow plunging 126 points to 20,470. Nasdaq fell 23 points to 5,804. 


On the upside


Cellect Biotechnology (Nasdaq: APOP) announced the first successful stem cell transplant procedure using its ApoGraft technology in a Phase I/II clinical trial.


Impax Laboratories (Nasdaq: IPXL) named Paul M. Bisaro to the position of president and chief executive officer.


Weatherford International (NYSE: WFT) formed a joint venture with Schlumberger (NYSE: SLB) to develop unconventional resource plays in the United States and Canada land markets.


On the downside


Foamix Pharmaceuticals (Nasdaq: FOMX) reported disappointing results from two Phase 3 clinical trials investigating FMX101 to treat moderate to severe acne.

 

G-III Apparel Group (Nasdaq: GIII) fell to a greater than expected loss for the fourth quarter.

 

Investors locked in profits on Zais Group Holdings (Nasdaq: ZAIS).


In the broad market, declining issues outpaced advancers by a margin of more than 3 to 1 on both the NYSE and on Nasdaq. The broader S&P 500 index fell 12 points to 2,331. Bitcoin soared $65 to $1022.


It was a mixed close for the markets with the Dow falling 59 points to 20,596 after efforts by the House of Representatives to repeal Obamacare failed. Nasdaq rose 11 points to 5,828. 


On the upside


Shares of Cancer Genetics (Nasdaq: CGIX) extended its gains.


Bargain hunters lifted shares of QuickLogic (Nasdaq: QUIK).


Shares of Community Health Systems (NYSE: CYH) rose after the House of Representatives failed to repeal Obamacare.


On the downside


Fourth quarter revenue fell for Neovasc (Nasdaq: NVCN).

 

U.S. Concrete (Nasdaq: USCR) senior vice president and chief financial officer Joseph C. Tusa resigned effective July 1, 2017.

 

Condor Hospitality Trust (Nasdaq: CDOR) priced its public offering of 4.125 million common shares at the discounted price of $10.50 per share.


In the broad market, advancing issues outpaced decliners by a margin of nearly 10 to 9 on the NYSE and by 9 to 7 on Nasdaq. The broader S&P 500 index slipped a point to 2,343. Bitcoin fell $6 to $949.


GameStop to close 150 stores

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The markets traded mixed during the midday with the Dow losing 19 points to 20,637. Nasdaq gained 20 points to 5,838. 


After a disappointing holiday quarter with a 13.6% drop in global sales, GameStop announced plans to close approximately 150 stores. Consumers are choosing mobile games and digital downloads over traditional hardcopy games. The retailer will also open 65 new Technology Brand stores and 35 Collectibles stores in order to diversify.


Diversified holding company Zhonghong Zhuoye Group will acquire Blackstone Group's 21% stake in SeaWorld Entertainment for a premium of approximately $429 million. Blackstone paid approximately $2.3 billion to purchase SeaWorld in 2009. The embattled theme park operator was taken public in 2013 and has seen its revenue drop the last three years.


The National Football League is pursuing a new revenue stream by selling the streaming rights to its Thursday Night Football games. Twitter reportedly paid $10 million last year for the rights to stream ten Thursday night games. Amazon, Facebook, Twitter and YouTube are reportedly all bidding for the rights to stream next season's games on Thursday nights.


In the broad market, advancing issues outpaced decliners by a margin of more than 7 to 5 on both the NYSE and on Nasdaq. The broader S&P 500 index added a point to 2,347. Bitcoin plummeted $47 to $996.


The markets opened higher with the Dow gaining 44 points to 20,701 as the House of Representatives prepared to vote on the repeal of Obamacare. Nasdaq climbed 34 points to 5,851. 


On the upside


HTG Molecular Diagnostics (Nasdaq: HTGM) narrowed losses for the fourth quarter.


Zais Group (Nasdaq: ZAIS) reversed year ago losses to post a profit for the fourth quarter.


Bargain hunters lifted shares of Top Ships (Nasdaq: TOPS).


On the downside


Xenon Pharmaceuticals (Nasdaq: XENE) reported disappointing results from a Phase 2 clinical trial of XEN801 to treat moderate to severe facial acne.

 

The Finish Line (Nasdaq: FINL) fell to a greater than expected loss for the fourth quarter.

 

Fourth quarter earnings fell for GameStop (NYSE: GME) as revenue dropped.


In the broad market, advancing issues outpaced decliners by a margin of nearly 3 to 1 on the NYSE and by more than 3 to 1 on Nasdaq. The broader S&P 500 index gained 6 points to 2,352. Bitcoin plunged $51 to $992.


The markets retreated in late afternoon trading to close flat with the Dow slipping 4 points to 20,656 after the House of Representatives delayed its vote on a Republican bill to repeal Obamacare. Nasdaq edged down 3 points to 5,817. 


On the upside


Rumors swirled that Sanofi (NYSE: SNY) offered to acquire Flexion Therapeutics (Nasdaq: FLXN).


LSC Communications (NYSE: LKSD) priced its secondary offering of approximately 6.24 million common shares at $20.25 per share.


Penn National Gaming (Nasdaq: PENN) lifted its first quarter revenue forecast.


On the downside


Investors locked in profits on Moleculin Biotech (Nasdaq: MBRX).

 

Heat Biologics (Nasdaq: HTBX) priced its public offering of 5 million common shares at the discounted price of $0.80 per share.

 

Orion Engineered Carbons (NYSE: OEC) priced its secondary offering of 5 million common shares at the discounted price of $18.75 per share.


In the broad market, advancing issues outpaced decliners by a margin of nearly 2 to 1 on the NYSE and by more than 5 to 3 on Nasdaq. The broader S&P 500 index slipped 2 points to 2,345. Bitcoin gained $15 to $1,052.


17,000 AT&T workers on strike

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The markets rebounded during the midday with the Dow climbing 71 points to 20,732. Nasdaq gained 15 points to 5,837. 


Approximately 17,000 AT&T workers represented by the Communications Workers of America union are on strike in California and Nevada. The employees are protesting a change to some job duties without union agreement. Landline technicians who install cable are now being asked to perform other jobs that are higher paid.


Johnson & Johnson has joined a growing list of advertisers who have suspended their digital advertising campaigns on YouTube. Companies do not want their ads to be displayed with YouTube videos that promote anti-Semitic, anti-LGBTQ or other offensive content. YouTube owner Google announced advertising and hate speech policy changes yesterday to combat offensive and derogatory content.


Ford Motor warned of a sharp 50% plunge in profits for the current quarter due to global pressures. The automaker's struggling European Operations finally posted a profit in 2016 after recording billion in losses over the last few years but will now be negatively impacted by Brexit. The Asia-Pacific region is also expected to decline.


In the broad market, advancing issues outpaced decliners by a margin of nearly 4 to 1 on the NYSE and by nearly 3 to 1 on Nasdaq. The broader S&P 500 index gained 7 points to 2,356. Bitcoin climbed $22 to $1,059.


An unexpected increase in first time applications for unemployment benefits weighed the markets down to a lower open with the Dow slipping 9 points to 20,651. Nasdaq lost 11 points to 5,810. 


On the upside


HTG Molecular Diagnostics (Nasdaq: HTGM) obtained CE marking in the European Union for its HTG EdgeSeq ALKPlus Assay EU.


Sunshine Heart (Nasdaq: SSH) provided an update on its Aquadex revenue growth strategy.


Cancer Genetics (Nasdaq: CGIX) narrowed fourth quarter losses as revenue soared.


On the downside


Shares of Cerulean Pharma (Nasdaq: CERU) extended its losses.

 

Tandem Diabetes Care (Nasdaq: TNDM) priced its public offering of 18 million common shares at the discounted price of $1.25 per share.

 

QuickLogic (Nasdaq: QUIK) priced its public offering of 10 million common shares at the discounted price of $1.50 per share.


In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 3 on the NYSE and by 7 to 5 on Nasdaq. The broader S&P 500 index held steady at 2,348. Bitcoin climbed $23 to $1,060.


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