Upbeat jobless data lifts markets

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Upbeat jobless data boosted the markets to a higher close with the Dow soaring 164 points to 24,962. Nasdaq slipped 8 points to 7210.


On the upside


Harsco (NYSE: HSC) reported higher fourth quarter revenue.


Gulfport Energy (Nasdaq: GPOR) swung to a stronger than expected profit for the fourth quarter.


Alteryx (NYSE: AYX) narrowed losses significantly for the fourth quarter as revenue soared.

 

On the downside 


Brookdale Senior Living (NYSE: BKD) rejected an acquisition offer and named chief financial officer Lucinda M Baier to the position of president and chief executive.


Advaxis (Nasdaq: ADXS) priced its public offering of 10 million common shares at the discounted price of $2.00 per share.


SpartanNash (Nasdaq: SPTN) reported higher fourth quarter earnings and revenue but the stock price fell.


In the broad market, advancing issues outpaced decliners by a margin of nearly 6 to 5 on the NYSE while decliners edged out advancers by nearly 3 to 2 on Nasdaq. The broader S&P 500 added 2 points to 2,703. Bitcoin crashed $557 to $9,928.


Southwest raises upgraded boarding fee

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The markets surged during the midday with the Dow rocketing 204 points to 25,002. Nasdaq added 9 points to 7228.


Southwest has raised the fee that it charges passengers for a last minute upgraded boarding position. Southwest does not assign passenger seats but instead boards passengers in three groups allowing passengers to choose their own seats. Passengers in high demand markets can pay $50 one way to board in the first group.


Toys R Us blamed disappointing holiday sales for plans to close an additional 200 stores. The toy retailer filed for Chapter 11 bankruptcy protection in September 2017 and announced plans to shutter 182 stores in January 2018. Severance packages will not be offered to hourly workers who will lose their jobs due to the store closures.


UPS has partnered with Workhorse Group to design and build electric delivery trucks. The first set of fifty vans with a range of 100 miles will be tested in Atlanta, Dallas and Los Angeles. UPS expects the use of electric vehicles to improve fuel efficiency by nearly 400%.


In the broad market, advancing issues outpaced decliners by a margin of 2 to 1 on the NYSE and by nearly 6 to 5 on Nasdaq. The broader S&P 500 rose 12 points to 2,713. Bitcoin collapsed $679 to $9,806.


Drop in jobless claims lift markets

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First time applications for unemployment benefits dropped to its lowest level in nearly 45 years to lift the markets to a higher open with the Dow gaining 58 points to 24,855. Nasdaq climbed 34 points to 7252.


On the upside


Sangamo Therapeutics (Nasdaq: SGMO) entered a global collaboration agreement with Gilead's (Nasdaq: GILD) Kite to develop next generation ex vivo cell therapies to treat cancer.


Whiting Petroleum (NYSE: WLL) reported a smaller than expected loss for the fourth quarter.


Chesapeake Energy (NYSE: CHK) reversed year ago losses to post a stronger than expected profit for the fourth quarter.

 

On the downside 


Macquarie Infrastructure (NYSE: MIC) reported higher fourth quarter earnings due to the new tax law but earnings before taxes fell.


Roku (Nasdaq: ROKU) reported better than expected earnings for the fourth quarter but the company forecast current quarter revenue below estimates.


Wayfair (NYSE: W) widened fourth quarter losses more than expected.


In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 2 on the NYSE and by nearly 3 to 2 on Nasdaq. The broader S&P 500 gained 9 points to 2,710. Bitcoin crashed $515 to $9,970.


Markets tumble as bond yields rise

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Rising bond yields sent the markets tumbling to a lower close with the Dow plunging 166 points to 24,797. Nasdaq fell 16 points to 7218.


On the upside


Quad/Graphics (NYSE: QUAD) reported higher fourth quarter earnings, declared a quarterly cash dividend of 30 cents per share and acquired marketing solutions provider Ivie & Assoc.


Fate Therapeutics (Nasdaq: FATE) announced that the first patient has been treated in the DIMENSION study of FATE-NK100 to treat advanced solid tumors.


La-Z-Boy (NYSE: LZB) reported higher third quarter revenue that surpassed expectations.

 

On the downside 


Aegean Marine Petroleum Network (NYSE: ANW) warned of losses for the fourth quarter.


Tile Shop Holdings (Nasdaq: TTS) fell to a greater than expected loss for the fourth quarter.


QTS Realty Trust (NYSE: QTS) fell to a fourth quarter loss.


In the broad market, declining issues outpaced advancers by a margin of nearly 6 to 5 on the NYSE while advancers edged out decliners by 5 to 4 on Nasdaq. The broader S&P 500 dropped 14 points to 2,701. Bitcoin collapsed $1,155 to $10,296.


The markets advanced during the midday with the Dow gaining 75 points to 25,040. Nasdaq climbed 52 points to 7286.


Krispy Kreme unveiled a limited edition Hershey's Gold Doughnut that will be available beginning Thursday, February 22 at participating locations. The doughnut combines Krispy Kreme's original glazed doughnut with a salted caramel icing and pieces of Hershey's Gold bar. This is the second collaboration between the doughnut maker and the candy company.


A less expensive service is now available for Uber customers. Express Pool is similar to the carpooling service Uberpool but users will have to walk to a nearby location to meet their ride. Express Pool will be up to 30% cheaper than Uberpool and up to 75% less costly than a regular Uber.


Priceline Group officially changed its name and ticker symbol PCLN to Booking Holdings with a ticker symbol of BKNG. Priceline began as an online travel site where travelers named the price that they were willing to pay for airline tickets. After acquiring companies such as Bookings, Kayak, OpenTable, and Rentalcars.com, Priceline now generates most of its revenue through online reservations of hotel rooms, rental cars, and restaurants.


In the broad market, advancing issues outpaced decliners by a margin of nearly 7 to 3 on the NYSE and by more than 5 to 2 on Nasdaq. The broader S&P 500 gained 12 points to 2,728. Bitcoin crashed $971 to $10,480.


Existing home sales fell unexpectedly but the markets opened higher with the Dow rising 24 points to 24,988. Nasdaq gained 24 points to 7258.


On the upside


Advance Auto Parts (NYSE: AAP) reported higher fourth quarter earnings that topped analyst estimates.


Weatherford International (NYSE: WFT) announced a private offering of $600 million of senior notes.


Conduent (NYSE: CNDT) swung to a profit for the fourth quarter.

 

On the downside 


U.S. Silica Holdings (NYSE: SLCA) reported lower than expected earnings for the fourth quarter.


Vonage Holdings (NYSE: VG) fell to a greater than expected loss for the fourth quarter.


Jeld-Wen (NYSE: JELD) fell to a loss for the fourth quarter.


In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 2 on both he NYSE and on Nasdaq. The broader S&P 500 rose 4 points to 2,720. Bitcoin crashed $827 to $10,623.


The markets closed sharply lower with the Dow crashing 254 points to 24,964 as Walmart's disappointing holiday quarter results weighed on investors. Nasdaq slipped 5 points to 7234.


On the upside


Rhone Capital will take Fogo de Chao (Nasdaq: FOGO) private in an all cash deal valued at approximately $560 million.


Voyager Therapeutics (Nasdaq: VYGR) entered an exclusive strategic collaboration and option agreement with AbbVie (NYSE: ABBV) to develop and commercialize vectorized antibodies to treat Alzheimer's disease.


DineEquity (NYSE: DIN) reported sharply higher fourth quarter earnings.

 

On the downside 


Osmotica Pharmaceuticals and Vertical Pharmaceuticals requested a declaratory judgment that Osmotica's OSMOLEX ER does not infringe on certain of Adamas Pharmaceuticals' (Nasdaq: ADMS) patents.


Diana Containerships (Nasdaq: DCIX) widened losses for the fourth quarter.


Fourth quarter earnings plunged for Allegheny Technologies (NYSE: ATI).


In the broad market, declining issues outpaced advancers by a margin of 2 to 1 on the NYSE and by more than 2 to 1 on Nasdaq. The broader S&P 500 dropped 15 points to 2,716. Bitcoin jumped $653 to $11,715.


Google introduces Google Pay

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The markets traded mixed during the midday with the Dow plunging 183 points to 25,036 while Nasdaq gained 31 points to 7270.


Google introduced its new Google Pay that combines Google Wallet and Android Pay into one app. People with a Google account will be able to use their smartphones to pay for items in brick and mortar stores. Credit cards and gift cards can also be uploaded to the app for use as a payment option.


DirecTV has increased the price of its NFL Sunday Ticket package from $281.94 for a basic package to $293.94. The basic package allows fans to watch any Sunday game that is being played as well as the ability to stream out-of-market games. The price of the NFL Sunday Ticket Max package which includes the Red Zone and Fantasy Zone will now cost $395.94.


Grocery store chain Albertsons announced plans to purchase drug store chain Rite Aid in a cash and stock deal that will create a combined company valued at approximately $24 billion including debt. Merging approximately 2,300 supermarket locations with Rite Aid's 2,569 drug stores will offer customers nearly 4,900 places to shop. The deal is expected to save the companies $375 million per year within three years.


In the broad market, declining issues outpaced advancers by a margin of more than 3 to 2 on the NYSE and by nearly 3 to 2 on Nasdaq. The broader S&P 500 lost 7 points to 2,724. Bitcoin surged $511 to $11,573.


Walmart weighs down markets

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Disappointing results from Walmart sent the markets down to a lower open with the Dow tumbling 95 points to 25,124. Nasdaq fell 30 points to 7209.


On the upside


Qualcomm (Nasdaq: QCOM) increased its offer to buy NXP Semiconductors (Nasdaq: NXPI) from $110 per share to $127.50 per share, or approximately $44 billion.


Noble Energy (NYSE: NBL) reversed year ago losses to post a stronger than expected profit for the fourth quarter.


Mosaic (NYSE: MOS) reported a smaller than expected loss for the fourth quarter.

 

On the downside 


Walmart (NYSE: WMT) disappointed with lower fourth quarter earnings that fell short of expectations.


The Securities and Exchange Commission has issued subpoenas to Ubiquiti Networks (Nasdaq: UBNT) for documents related to its accounting practices, financial information, international trade practices, and auditors.


Citigroup downgraded Snap (NYSE: SNAP) from a Neutral rating to a Sell rating and cut its price target from $18 to $14.


In the broad market, declining issues outpaced advancers by a margin of more than 4 to 3 on the NYSE and by more than 6 to 5 on Nasdaq. The broader S&P 500 fell 10 points to 2,732. Bitcoin leaped $462 to $11,524.


U.S. markets closed

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U.S. markets are closed for Presidents' Day.

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