United mechanics approve new contract

|

The markets retreated from early morning highs during the midday with the Dow rising 25 points to 19,195. Nasdaq climbed 46 points 5,301.


The mechanics union for United Continental Holdings has approved a new six year joint collective bargaining agreement after more than three years of negotiating. The labor agreement includes pay raises as well as guarantees that compensation would be readjusted if a competitor's mechanics received higher wages and benefits.


Amazon opened its Amazon Go brick-and-mortar grocery store in Seattle, Washington. The next generation store has no checkout counters and uses sensors to detect items that have been removed from shelves. Customers will be charged for their purchases through their Amazon account. The store is now open only to Amazon employees and is scheduled to be opened to the public in 2017.


Tyson Foods will invest $150 million in a new venture fund to develop innovative new food products and food production methods. Tyson New Ventures will focus on alternative proteins and creative approaches to eliminating food waste. The fund has already announced plans to acquire a 5% stake in plant based meat substitute start up Beyond Meat.


In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 2 on the NYSE and by nearly 3 to 1 on Nasdaq. The broader S&P 500 index climbed 10 to 2,202. Bitcoin fell $9 to $751.


Higher open as crude oil rises

|

Rising crude oil prices lifted the markets to a sharply higher open with the Dow climbing 90 points to 19,260. Nasdaq soared 55 points 5,311.


On the upside


Ocean Power Technologies (Nasdaq: OPTT) entered a joint marketing agreement with Sonalysts.


New Oriental Education & Technology Group (NYSE: EDU) responded to allegations of academic fraud.


Eyegate Pharmaceuticals (Nasdaq: EYEG) reported promising data from the third stage of a Phase 1b/2a trial of iontophoretic EGP-437 to treat ocular inflammation and pain in post-surgical cataract patients.


On the downside


Shares of Gold Fields (NYSE: GFI), Harmony Gold (NYSE: HMY) and Kinross Gold (NYSE: KGC) all fell as gold prices dropped.


Agios Pharmaceuticals (Nasdaq: AGIO) reported new data on AG-348 and AG-519.


Cerecor (Nasdaq: CERC) reported disappointing results from Phase 2 clinical trial of CERC-501.


In the broad market, advancing issues outpaced decliners by a margin of nearly 3 to 1 on the NYSE and by nearly 5 to 1 on Nasdaq. The broader S&P 500 index climbed 14 to 2,206. Bitcoin fell $9 to $751.


Mixed close on rate concerns

|

The markets closed mixed with the Dow losing 21 points to 19,170 as upbeat jobs data raised concerns about an increase in interest rates. Nasdaq added 4 points 5,255.


On the upside


Ascena Retail Group (Nasdaq: ASNA) swung to a profit for the first quarter.


Envision Healthcare Holdings (NYSE: EVHC) completed its merger with AMSURG.


Five Below (Nasdaq: FIVE) reported higher third quarter earnings that beat analyst expectations.


On the downside


The American International Recruitment Council will investigate New Oriental Education & Technology Group (NYSE: EDU) for allegations of academic fraud.


Third quarter earnings slipped for Ambarella (Nasdaq: AMBA) and the chip maker forecast lower fourth quarter results.


Hoegh LNG Partners (NYSE: HMLP) priced its upsized public offering of 6 million common units at the discounted price of $17.60 per unit.


In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 4 on the NYSE and by more than 10 to 9 on Nasdaq. The broader S&P 500 index held steady at 2,191. Bitcoin leaped $19 to $766.


The nation's unemployment rate fell to 4.6% in November, the lowest level in more than nine years, raising concerns that the Federal Reserve will raise interest rates this month. The markets opened mixed with the Dow slipping 15 points to 19,176. Nasdaq added 4 points 5,255.


On the upside


Nova Lifestyle (Nasdaq: NVFY) partnered with Future World LifeStyle to offer Nova LifeStyle's Diamond Sofa Smart Furniture on Future World LifeStyle's website.


Merrill Lynch upgraded J.C. Penney (NYSE: JCP) from a Neutral rating to a Buy rating.


Bargain hunters snapped up shares of Heat Biologics (Nasdaq: HTBX).


On the downside


Workday (NYSE: WDAY) widened losses for the third quarter.


Smith & Wesson (Nasdaq: SWHC) reported higher third quarter earnings and revenue but the company forecast current quarter earnings below estimates.


Fairmount Santrol Holdings (NYSE: FMSA) priced its upsized secondary public offering of 20 million common shares at the discounted price of $8.75 per share.


In the broad market, advancing issues outpaced decliners by a margin of 10 to 9 on the NYSE while decliners edged out advancers by more than 5 to 4 on Nasdaq. The broader S&P 500 index added 2 points to 2,194. Bitcoin leaped $21 to $768.


Mixed close on economic concerns

|

The markets closed mixed with the Dow climbing 68 points to 19,191 while Nasdaq plummeted 72 points 5,251 over concerns about the economy under president elect Donald Trump.


On the upside


Tilly's (NYSE: TLYS) reported sharply higher third quarter earnings that topped analyst estimates as revenue rose.


Shares of Stone Energy (NYSE: SGY) and W&T Offshore (NYSE: WTI) extended its gains.


Skechers U.S.A. (NYSE: SKX) chief executive Robert Greenberg bought 500,000 shares of company stock.


On the downside


Aradigm (Nasdaq: ARDM) reported mixed results from two Phase studies of Pulmaquin to treat non-cystic fibrosis bronchiectasis with chronic lung infections with Pseudomonas aeruginosa.


Nutanix (Nasdaq: NTNX) reported a loss for its first quarter as a publicly traded company.


Bazaarvoice (Nasdaq: BV) reported a loss for the second quarter.


In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 3 on both the NYSE and on Nasdaq. The broader S&P 500 index fell 7 points to 2,191. Bitcoin climbed $8 to $755.


The markets opened mixed with the Dow gaining 59 points to 19,183 as investors anticipate a rate hike this month. Nasdaq fell 13 points 5,310


On the upside


A company controlled by DryShips (Nasdaq: DRYS) chair and chief executive George Economou provided the company an $85.1 million Syndicated Loan.


SeaDrill (NYSE: SDRL) stock rose on OPEC's oil production cut agreement.


bluebird bio (Nasdaq: BLUE) reported positive interim data from an ongoing Phase 1 clinical study of bb2121 to treat relapsed/refractory multiple myeloma.


On the downside


Heat Biologics (Nasdaq: HTBX) reported disappointing results from a Phase 2 trial of its bladder cancer treatment HS-410.


Express (NYSE: EXPR) reported sharply lower third quarter earnings and revenue, forecast current quarter earnings below estimates and slashed its full year earnings outlook.


Guess (NYSE: GES) disappointed with lower third quarter earnings that missed expectations.


In the broad market, declining issues barely edged out advancers by a slim margin on the NYSE while advancers outpaced decliners by more than 10 to 9 on Nasdaq. The broader S&P 500 edged up a fraction to 2,199. Bitcoin climbed $6 to $746.


Rate hike concerns weigh down stocks

|

The markets closed lower with the Dow barely adding a point to 19,123 as concerns about a looming rate hike tempered enthusiasm for an oil production cut by OPEC. Nasdaq plunged 56 points 5,323.


On the upside


Shares of Genetic Technologies (Nasdaq: GENE) extended its gains.


An OPEC agreement to cut oil production sent shares of Denbury Resources (NYSE: DNR), EP Energy (NYSE: EPE), SM Energy (NYSE: SM) and Whiting Petroleum (NYSE: WLL) soaring.


Shares of drilling services providers Ensco (NYSE: ESV), Nabors Industries (NYSE: NBR) and Ocean Rig (Nasdaq: ORIG) surged as well.


On the downside


Cerecor (Nasdaq: CERC) reported disappointing results from a Phase 2 clinical trial of CERC-301 to treat major depressive disorder.


Shares of Nivalis Therapeutics (Nasdaq: NVLS) extended its losses.


Dynavax Technologies (Nasdaq: DVAX) will present clinical data from a Phase 1/2 clinical trial of SD-101 in patients with low-grade, B cell lymphoma at the 58th American Society of Hematology Annual Meeting and Exposition on Sunday, December 4, 2016.


In the broad market, declining issues outpaced advancers by a margin of more than 3 to 2 on the NYSE and by more than 5 to 3 on Nasdaq. The broader S&P 500 fell 5 points to 2,198. Bitcoin climbed $8 to $739.


OPEC agrees to production cuts

|

The markets traded mixed during the midday with the Dow climbing 73 points to 19,195. Nasdaq dropped 33 points 5,346.


For the first time in eight years, the Organization of the Petroleum Exporting Countries has agreed to cut production levels in order to boost oil prices. Members will reduce oil production by approximately 4.5%, or 1.2 million barrels per day. Saudi Arabia will shoulder a greater proportion of the cuts by lowering its production by approximately 0.5 million barrels per day.


In response to customer demand, Netflix will begin allowing users to download programs to watch offline. The ability to download is available on the latest versions of the iOS and Android Netflix app. However, only a select number of titles will be downloadable. All Netflix members around the world regardless of membership level can install the app that has the download feature.


GoPro will eliminate around 15% of its workers and close its entertainment division as part of a restructuring plan to return the wearable camera maker to profitability in 2017. Revenue has been falling for the last four quarters and the company had to recall its Karma drones earlier this month. The company expects slash operating expenses by $735 million.


In the broad market, declining issues outpaced advancers by a margin of 7 to 5 on the NYSE and by more than 3 to 2 on Nasdaq. The broader S&P 500 added 3 points to 2,207. Bitcoin gained $7 to $738.


Dow climbs as OPEC agrees to cuts

|

OPEC agreed to cut oil production for the first time since 2008 sending the Dow to a higher open with the blue chip index gaining 52 points to 19,174. Nasdaq fell 23 points 5,356.


On the upside


The Department of Energy awarded Superconductor Technologies (Nasdaq: SCON) $4.5 million to improve the manufacturing process of superconductive wires.


Shares of California Resources (NYSE: CRC), Oasis Petroleum (NYSE: OAS) and WPX Energy (NYSE: WPX) climbed as OPEC agreed to cut production.


Shares of Globus Maritime (Nasdaq: GLBS) extended its gains.


On the downside


Arrowhead Pharmaceuticals (Nasdaq: ARWR) will discontinue development of clinical stage drug candidates ARC-520, ARC-521 and ARC-AAT.


American Eagle Outfitters (NYSE: AEO) reported higher third quarter earnings and revenue but same store sales growth fell short of expectations and the company forecast current quarter earnings below estimates.


Costamere (NYSE: CMRE) priced its public offering of 12 million common shares at the discounted price of $6.00 per share.


In the broad market, declining issues outpaced advancers by a margin of nearly 10 to 9 on the NYSE while advancers edged out decliners by nearly 10 to 9 on Nasdaq. The broader S&P 500 rose 4 points to 2,208. Bitcoin gained $6 to $737.


Higher close ahead of OPEC meeting

|

The markets closed modestly higher with the Dow rising 23 points to 19,121 ahead of OPEC's meeting tomorrow to reach an agreement on production cuts. Nasdaq gained 11 points 5,379.


On the upside


Globus Maritime (Nasdaq: GLBS) announced a $5 million private placement agreement.


Dataram (Nasdaq: DRAM) finalized its definitive agreement to acquire U.S. Gold Corp.


Thor Industries (NYSE: THOR) reported sharply higher first quarter earnings that beat expectations as revenue surged.


On the downside


Shoe Carnival (Nasdaq: SCVL) disappointed with lower than expected results for the third quarter.


Newpark Resources (NYSE: NR) will offer $100 million in convertible senior notes.


Shares of Skyline Medical (Nasdaq: SKLN) extended its losses.


In the broad market, declining issues outpaced advancers by a margin of nearly 10 to 9 on the NYSE while decliners barely edged out advancers by a slim margin on Nasdaq. The broader S&P 500 added 2 points to 2,204. Bitcoin edged up to $732.


Monthly Archives

Powered by Movable Type 5.12