New home sales rose in June to lift the markets to a higher open with the Dow climbing 77 points to 21,690. Nasdaq gained 13 points to 6,425.


On the upside


U.S. Steel (NYSE: X) reported second quarter earnings that surpassed analyst expectations by a wide margin.


iRobot (Nasdaq: IRBT) lifted its full year earnings outlook on strong Amazon Prime Day sales.


Tetraphase Pharmaceuticals (Nasdaq: TTPH) reported positive results from a Phase 3 clinical trial of eravacycline.

 

On the downside


Akamai Technologies (Nasdaq: AKAM) reported lower second quarter earnings and forecast current quarter results below expectations.


Wynn Resorts (Nasdaq: WYNN) reported a 9% drop to its walk-in business at Wynn Macau.

 

LSB Industries (NYSE: LXU) will no longer pursue a sale of the company.


In the broad market, declining issues outpaced advancers by a margin of nearly 9 to 8 on the NYSE while advancers edged out decliners by nearly 9 to 8 on Nasdaq. The broader S&P 500 added 2 points to 2,479. Bitcoin dropped $29 to $2526.


Strong gain in consumer confidence boosted the markets to a higher close with the Dow soaring 100 points to 21,613. Nasdaq added a point to 6,412.


Michael Kors will acquire Jimmy Choo for approximately $1.2 billion in order to expand its international presence. The American luxury brand has experienced declining sales for the past few years and is closing between 100 to 125 stores. British luxury shoemaker Jimmy Choo reported a 0.8% slip in same store sales in 2016.


The Conference Board reported a sharp gain to its consumer confidence index in July to 121.1 from a reading of 117.3 last month. The July reading is the second highest in 16 years and is attributed to the strong labor market. But, fewer consumers expect their incomes to improve.


The Federal Communications Commission invited internet service providers and technology companies such as AT&T, Facebook and Verizon to testify at a hearing about net neutrality. Current rules prevent providers from throttling access either by slowing websites or speeding sites that are willing to pay a fee. The FCC may reverse net neutrality regulations.


In the broad market, advancing issues outpaced decliners by a margin of more than 3 to 2 on the NYSE and by more than 4 to 3 on Nasdaq. The broader S&P 500 gained 7 points to 2,477. Bitcoin plunged $144 to $2561.


Dow surges on upbeat earnings

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Upbeat earnings lifted the markets to a higher open with the Dow soaring 125 points to 21,638. Nasdaq slipped 3 points to 6,407.


On the upside


Freeport-McMoRan (NYSE: FCX) reversed year ago losses to post a profit for the second quarter.


Genocea Biosciences (Nasdaq: GNCA) reported positive top-line 12-month data for a Phase 2b clinical trial of it genital herpes treatment GEN-003.


AK Steel (NYSE: AKS) reported sharply higher earnings for the second quarter.

 

On the downside


Wabtec (NYSE: WAB) disappointed with lower second quarter earnings that fell short of expectations.


Second quarter earnings and revenue for Interpublic Group (NYSE: IPG) fell to miss expectations.

 

Seagate Technology (Nasdaq: STX) reported higher fourth quarter earnings but the results fell far short of analyst expectations.


In the broad market, advancing issues outpaced decliners by a margin of nearly 2 to 1 on both the NYSE and on Nasdaq. The broader S&P 500 gained 8 points to 2,477. Bitcoin plummeted $137 to $2567.


The markets closed mixed with the Dow dropping 66 points to 21,513 as June existing home sales fell amidst record prices. Nasdaq gained 23 points to 6,410.


On the upside


Shopify (NYSE: SHOP) announced the winners of its first BEASTMODE-A-Business competition, in partnership with Oakland Raiders running back Marshawn Lynch, theFam 1st Family Foundation, and Hingeto.


BidaskClub upgraded Axovant Sciences (NYSE: AXON) from a Hold rating to a Buy rating.


The Tesla (Nasdaq: TSLA) Model 3 delivery event is scheduled for Friday, July 28 at 7pm (PT).

 

On the downside


Shares of U.S. Silica Holdings (NYSE: SLCA) continued falling.


Second quarter earnings for Manpower Group (NYSE: MAN) fell short of expectations.

 

Halliburton (NYSE: HAL) warned that rig count growth in North America would flatten.


In the broad market, declining issues outpaced advancers by a margin of more than 5 to 4 on the NYSE while advancers edged out decliners by more than 9 to 8 on Nasdaq. The broader S&P 500 slipped 2 points to 2,469. Bitcoin rose $7 to $2705.


Bush Brothers recalls beans

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The markets traded mixed during the midday with the Dow dropping 40 points to 21,539. Nasdaq gained 19 points to 6,407.


Bush Brothers & Co. has voluntarily recalled cans of baked beans due to potentially defective cans. The recalled products are all 28-ounce sized cans of Bush's Best Brown Sugar Hickory, Bush's Best Country Style and Bush's Best Original. No illnesses have been reported.


Arby's announced a new Smoked Italian Porchetta Sandwich that will be available nationwide in August. Porchetta is a pork loin that is wrapped in skin-on pork belly. After smoking for eight hours, the porchetta is thinly sliced then topped with provolone, lettuce, tomato, red onion, banana peppers, red wine vinaigrette and garlic aioli.


Hibbett Sports launched its very first e-commerce site today. The sporting goods retailer had a website but the ability to make online purchases was never available. Same store sales at the company's brick and mortar stores have tumbled approximately 10% in the second quarter.


The broader S&P 500 eased a fraction to 2,471. Bitcoin slipped $1 to $2691


The markets opened flat with the Dow slipping 3 points to 21,577 as existing home sales fell in June. Nasdaq held steady at 6,387.


On the upside


Scientific Games (Nasdaq: SGMS) narrowed second quarter losses more than expected.


Goldman Sachs and RBC Capital Markets initiated coverage of Blue Apron (NYSE: APRN) with Buy ratings.


WebMD (Nasdaq: WBMD) will be acquire day KKR for a premium of approximately $2.8 billion in cash.

 

On the downside


Credit Suisse downgraded Chicago Bridge & Iron (NYSE: CBI) from an Outperform rating to a Neutral rating.


Second quarter revenue for Hasbro (Nasdaq: HAS) rose less than expected.

 

RPM International (NYSE: RPM) disappointed with fourth quarter earnings and revenue that fell short of expectations.


In the broad market, declining issues outpaced advancers by a margin of nearly 3 to 2 on the NYSE and by 9 to 8 on Nasdaq. The broader S&P 500 held steady at 2,472. Bitcoin gained $19 to $2717.


Disappointing earnings weighed the markets down to a lower close with the Dow falling 31 points to 21,580. Nasdaq lost 2 points to 6,387.


On the upside


Wipro (NYSE: WIT) announced plans to repurchase 343.75 million shares of company stock.


Synchrony Financial (NYSE: SYF) reported higher second quarter earnings and revenue that topped expectations.


Shares of PetIQ (Nasdaq: PETQ) surged on its first trading day.

 

On the downside


Pernix Therapeutics (Nasdaq: PTX) warned of lower second quarter revenue.


Goldman Sachs downgraded Fairmount Santrol Holdings (Nasdaq: FMSA) from a Neutral rating to a Sell rating and slashed its price target from $11 to $2.

 

Manhattan Associates (Nasdaq: MANH) reported lower second quarter earnings and revenue and cut its full year guidance.


In the broad market, declining issues outpaced advancers by a margin of nearly 9 to 8 on the NYSE and by nearly 3 to 2 on Nasdaq. The broader S&P 500 eased a fraction to 2,472. Bitcoin tumbled $66 to $2606.


The markets extended its losses during the midday with the Dow dropping 61 points to 21,550. Nasdaq slipped 5 points to 6,384.


The Federal Trade Commission is investigating allegations that Amazon has been misleading consumers about the discounts that they receive when they purchase items. Advocacy group Consumer Watchdog has accused Amazon of inflating reference prices so that customers think that they are getting a better deal. Amazon denied the allegations saying that manufacturer reference prices are validated against actual retailer prices.


The Competition Appeal Tribunal has stopped a class action suit against MasterCard in the United Kingdom from moving forward. The $18 billion suit alleged that the interchange fees charged by MasterCard impacted all consumers in the UK whether they used MasterCard or another payment method. A representative of the suit said that an appeal may be filed.


Lyft announced a new autonomous car unit, Level 5, that will work with engineers from partner companies to develop self-driving systems. Several hundred engineers will be housed in a facility in Palo Alto, California although Lyft does not have a permit to test self-driving cars in the state. Lyft expects to test autonomous cars with technology company Nutonomy in Boston by the end of the year.


In the broad market, declining issues outpaced advancers by a margin of 3 to 2 on the NYSE and by more than 4 to 3 on Nasdaq. The broader S&P 500 lost 3 points to 2,469. Bitcoin rose $6 to $2680.


The markets opened lower with the Dow losing 20 points to 21,591 on disappointing earnings. Nasdaq slipped 7 points to 6,383.


On the upside


Capital One Financial (NYSE: COF) reported higher second quarter earnings that beat expectations.


Encana (NYSE: ECA) reversed year ago losses to post a stronger than expected profit for the second quarter and lifted its core asset production growth forecast for the year.


Shares of Sarepta Therapeutics (Nasdaq: SRPT) extended its gains.

 

On the downside


Maxim Integrated Products (Nasdaq: MXIM) disappointed with fourth quarter earnings and revenue that fell short of expectations.


Second quarter earnings for Gentex (Nasdaq: GNTX) missed analyst estimates.

 

NCR (NYSE: NCR) reported lower second quarter revenue.


In the broad market, declining issues outpaced advancers by a margin of 3 to 2 on the NYSE and by more than 9 to 8 on Nasdaq. The broader S&P 500 fell 6 points to 2,467. Bitcoin gained $13 to $2687.


The markets closed flat with the Dow losing 28 points to 21,611 as the Senate continues to evaluate options on how to move forward with a healthcare bill. Nasdaq rose 4 points to 6,390.


On the upside


Hydro One will pay a premium of approximately $5.32 billion in cash to acquire Avista (NYSE: AVA).


Ambac Financial Group (Nasdaq: AMBC) will restructure the Segregated Account of AAC  to conclude the rehabilitation of the Segregated Account.


Shares of Kala Pharmaceuticals (Nasdaq: KALA) surged on its first trading day.

 

On the downside


MarineMax (NYSE: HZO) reported lower third quarter revenue as same store sales tumbled.


A. Schulman (Nasdaq: SHLM) slashed its full year earnings outlook.

 

Credit Suisse downgraded Smart Sand (Nasdaq: SND) from an Outperform rating to a Neutral rating and slashed its price target from $20.00 to $8.50.


In the broad market, advancing issues barely edged out decliners by a slim margin on the NYSE while advancers outpaced decliners by 9 to 8 on Nasdaq. The broader S&P 500 held steady at 2,473. Bitcoin leaped $395 to $2649.


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