A potential rate hike weighed the markets down to a lower close with the Dow falling 53 points to 18,395. Nasdaq rose 6 points to 5,218. 


On the upside


Analysts expect Adamis Pharmaceuticals's (Nasdaq: ADMP) generic pre-filled epinephrine syringe, EpiPen, will be approved soon.


Bottomline Technologies (Nasdaq: EPAY) narrowed fourth quarter losses more than expected and announced a $60 million stock repurchase program.


Fiesta Restaurant Group (Nasdaq: FRGI) chief executive Tim Taft will retire at the end of the year.


On the downside


Fourth quarter earnings and revenue fell short for Aceto (Nasdaq: ACET).


GameStop (NYSE: GME) disappointed with lower second quarter revenue that missed expectations.


Ferroglobe (Nasdaq: GSM) reported a loss for the second quarter.


In the broad market, declining issues outpaced advancers by a margin of more than 3 to 2 on the NYSE and by nearly 10 to 9 on Nasdaq. The broader S&P 500 rose 3 points to 2,169. Bitcoin added $1 to $576.

The markets retreated during the midday with the Dow falling 36 points to 18,411 as possibility of a rate hike increased. Nasdaq eased a fraction to 5,211. 


In a speech at the annual Jackson Hole Symposium today, Federal Reserve chair Janet Yellen discussed the different options that are available to the Fed to support the nation's economy during a downturn. She highlighted the current conditions of an improving labor market and an upbeat economic outlook. Because of the strengthening economy, Yellen suggested that an interest rate increase would be likely in the near future.  


Business inventories dropped for the first time since the third quarter of 2011. Second quarter inventories fell $12.4 billion to weigh down the gross domestic product. Meanwhile, consumer spending was revised upward to 4.4%.


Mazda will recall approximately 190,000 model 2007 through 2012 CX-7 sport utility vehicles to fix a steering problem. Water may enter the front suspension ball joint fitting of vehicles with the default causing possible corrosion. The joint may then separate from the lower control arm. Steering control will be lost.


In the broad market, advancing issues outpaced decliners by a margin of more than 10 to 9 on the NYSE and by nearly 5 to 4 on Nasdaq. The broader S&P 500 slipped 2 points to 2,169. Bitcoin rose $3 to $578.

Flat open on sluggish economy

|

The markets opened flat with the Dow rising 9 points to 18,457 as the nation's economy expanded at a modest 1.1% pace in the second quarter. Nasdaq added 3 points to 5,215. 


On the upside


PetroQuest (NYSE: PQ) commenced private exchange offers and a consent solicitation to senior notes holders.


Staffing 360 Solutions (Nasdaq: STAF) will release financial results on Monday, August 29, 2016.


Performance Sports Group (NYSE: PFS) may be close to finalizing a deal with its creditors to avoid a default.


On the downside


The Department of Education will no longer provide federal financial aid to students enrolled at ITT Educational Services (NYSE: ESI).


Brocade Communications (Nasdaq: BRCD) reported sharply lower third quarter earnings.


Splunk (Nasdaq: SPLK) widened losses for the third quarter prompting a downgrade.


In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 2 on the NYSE and by more than 5 to 3 on Nasdaq. The broader S&P 500 added 2 points to 2,175. Bitcoin rose $3 to $578.

Lower close ahead of Yellen speech

|

The markets closed lower with the Dow falling 33 points to 18,448 ahead of Federal Reserve chair Janet Yellen's speech tomorrow. Nasdaq lost 5 points to 5,212. 


On the upside


A federal judge ruled that Roxane Laboratories infringed on two of Vanda Pharmaceuticals' (Nasdaq: VNDA) patents.


Applied Optoelectronics (Nasdaq: AAOI) received initial orders for its 40Gbps QSFP+ and 100Gbps QSFP28 optical transceiver modules from a new hyper-scale datacenter customer.


Shares of generic EpiPen maker Antares Pharma (Nasdaq: ATRS) climbed.


On the downside


Resolute Energy (NYSE: REN) chief executive Nicholas J. Sutton will retire on December 31, 2016.


Investors continued to lock in profits on Amedica (Nasdaq: AMDA).


Amazon's (Nasdaq: AMZN) launch of Amazon Vehicle sent shares of TrueCar (Nasdaq: TRUE) lower.


In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 4 on both the NYSE and on Nasdaq. The broader S&P 500 slipped 2 points to 2,172. Bitcoin lost $4 to $574.

The markets traded mixed during the midday with the Dow losing 19 points to 18,462. Nasdaq rose 5 points to 5,223. 


There are indications that Amazon is planning to open brick-and-mortar stores for customers to collect groceries that have been ordered online. Based on permit applications and planning documents, Amazon may be exploring locations in San Carlos and Sunnyvale in the San Francisco area of California and in Seattle, Washington.


Software startup nuTonomy introduced self-driving taxis in Singapore today. Potential customers will be invited to hail a self-driving car in the one-north business district. Each self-driving taxi will be accompanied by an engineer to observe and assume control if necessary. NuTonomy plans to expand service with a wider commercial launch in 2018.


TripAdvisor acquired social mapping app Citymaps for an undisclosed sum. Citymaps was founded in 2010 to aggregate business information. The app now highlights point of interest on maps that users can customize and share.


In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 5 on the NYSE and by 9 to 7 on Nasdaq. The broader S&P 500 held steady at 2,175. Bitcoin fell $3 to $575.

The markets opened lower with the Dow slipping 6 points to 18,475 over disappointing earnings. Nasdaq eased 2 points to 5,215. 


On the upside


Guess? (NYSE: GES) reported higher second quarter earnings that beat expectations.


Shares of Nymox Pharmaceutical (Nasdaq: NYMX) continued soaring.


Tiffany (NYSE: TIF) reported higher second quarter earnings that topped analyst estimates.


On the downside


Second quarter earnings for Dollar General (NYSE: DG) fell short of analyst expectations.


Signet Jewelers (NYSE: SIG) reported second quarter earnings and revenue that missed estimates prompting the company to cut its full year forecast.


Dollar Tree (NYSE: DLTR) reported second quarter earnings and revenue that fell short of expectations.


In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 5 on the NYSE and by 9 to 7 on Nasdaq. The broader S&P 500 lost 2 points to 2,173. Bitcoin fell $6 to $572.

The markets closed lower with the Dow dropping 65 points to 18,481 as sales of existing homes fell. Nasdaq tumbled 42 points to 5,217. 


On the upside


Nymox Pharmaceutical (Nasdaq: NYMX) announced successful new study results from a long-term Phase 3 trial of the prostate cancer treatment fexapotide.


OraSure Technologies (Nasdaq: OSUR) won a contract for up to $16.6 million to advance rapid Zika tests.


Craft Brew Alliance (Nasdaq: BREW) and Anheuser-Busch amended and extended their master distribution agreement, entered a new contract brewing agreement and entered a new international distribution agreement.


On the downside


Falling gold and silver prices continued to weigh down shares of Hecla Mining (NYSE: HL).


Investors locked in profits on Arrowhead Pharmaceuticals (Nasdaq: ARWR).


Coeur Mining (NYSE: CDE) extended its losses as gold prices dropped.


In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 2 on the NYSE and by nearly 2 to 1 on Nasdaq. The broader S&P 500 fell 11 points to 2,175. Bitcoin lost $2 to $578.

Ford recalls 113,000 vehicles

|

The markets extended its losses during the midday with the Dow falling 43 points to 18,503. Nasdaq dropped 23 points to 5,236. 


Ford is recalling more than 113,000 vehicles worldwide to fix various defects. Fuel pump modules will be replaced in approximately 88,000 2013-2015 model year Ford Taurus sedans, Flex crossover utility vehicles, Police Interceptor sedans, Lincoln MKS sedans and Lincoln MKT SUVs. Approximately 2,500 2015-2016 model year Ford Transit vans will have their fuel-injection pumps replaced. The power window software in approximately 23,000 2017 Ford Escape SUVs must be recalibrated.


The National Labor Relations Board ruled that some of Chipotle's policies violated labor laws. The Chipotle employee handbook prohibits employees from discussing religion or politics in public, soliciting coworker support against a workplace policy in the visual or hearing range of customers, and using the Chipotle brand name. Chipotle must amend its policies to allow its workers freedom of speech.


Sales of existing homes dropped by a greater than expected 3.2% in July as inventory shrank. With fewer properties on the market, the median house price climbed 5.3%. The tight inventory also prompted a quicker turnaround time for sales. The number of days that a house stayed on the market fell from 42 days last year to 36 days. 


In the broad market, declining issues outpaced advancers by a margin of nearly 2 to 1 on the NYSE and by more than 9 to 7 on Nasdaq. The broader S&P 500 fell 7 points to 2,179. Bitcoin lost $2 to $578.

Existing home sales fell in July to weigh the markets down to a lower open with the Dow losing 24 points to 18,523. Nasdaq eased a fraction to 5,259. 


On the upside


Uranium Resources (Nasdaq: URRE) acquired a lithium property in Nevada.


The Food and Drug Administration granted clearance to Amedica (Nasdaq: AMDA) for expanded Valeo II Lateral Lumbar sizes.


Lannett (NYSE: LCI) reported better than expected earnings for the fourth quarter as revenue surged and forecast full year revenue ahead of estimates.


On the downside


Express (NYSE: EXPR) disappointed with lower second quarter earnings and revenue that fell short of expectations and slashed its current quarter guidance.


First quarter earnings and revenue for La-Z-Boy (NYSE: LZB) missed estimates.


Shares of Yirendai (NYSE: YRD) fell for the fifth day.


In the broad market, declining issues outpaced advancers by a margin of more than 7 to 5 on the NYSE while advancers edged out decliners by nearly 9 to 7 on Nasdaq. The broader S&P 500 slipped 2 points to 2,184. Bitcoin lost $1 to $579.

Higher close as oil rebounds

|

Crude oil prices rebounded in late afternoon trading to lift the markets to a modestly higher close with the Dow rising 17 points to 18,547. Nasdaq gained 15 points to 5,260. 


On the upside


The Food and Drug Administration granted accelerated approval for Clovis Oncology's (Nasdaq: CLVS) new drug application for rucaparib.


Daktronics (Nasdaq: DAKT) reported higher first quarter earnings and revenue that topped analyst estimates.


Capstone Turbine's (Nasdaq: CPST) distributor in Belarus and Russia won another order for a C1000 Signature Series microturbine.


On the downside


Kirkland (Nasdaq: KIRK) widened losses for the second quarter.


Investors locked in profits on Tokai Pharmaceuticals (Nasdaq: TKAI).


Profit taking weighed down shares of Nvatel Wireless (Nasdaq: MIFI).


In the broad market, advancing issues outpaced decliners by a margin of more than 2 to 1 on the NYSE and by more than 5 to 3 on Nasdaq. The broader S&P 500 rose 4 points to 2,186. Bitcoin slipped $2 to $581.

Monthly Archives

Powered by Movable Type 5.12