Crude oil rises, markets soar

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Rising crude oil prices lifted the markets to a higher close with the Dow rocketing 284 points to 17,694. Nasdaq jumped 87 points to 4,779. 


On the upside


Brookfield Asset Management acquired a 12.13% stake in TerraForm Power (Nasdaq: TERP).

 

ChromaDex (Nasdaq: CDXC) was added to the Russell 2000, Russell 3000, Russell Microcap Index and Russell Global Index. 


Bargain hunters lifted shares of Regulus (Nasdaq: VNR).


On the downside


Southwestern Energy (NYSE: SWN) increased its public offering from 75 million shares to 86 million shares.


Alcoa (NYSE: AA) will split into two companies.

 

Shares of Hutchinson Technology (Nasdaq: HTCH) slipped.


In the broad market, advancing issues outpaced decliners by a margin of 6 to 1 on the NYSE and by 7 to 2 on Nasdaq. The broader S&P 500 surged 34 points to 2,070. Bitcoin fell $5 to $633.

Market extends recovery

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The market recovery continued with the Dow leaping 262 points to 17,672. Nasdaq jumped 89 points to 4,781. 


On the upside


Shares of Twilio (NYSE: TWLO) surged again.

 

Upbeat clinical trial results from Tesaro (Nasdaq: TSRO) lifted shares of Clovis Oncology (Nasdaq: CLVS) which is developing a similar product. 


Rising crude oil prices lifted shares of Vanguard Natural Resources (Nasdaq: VNR).


On the downside


RBC Capital Markets downgraded Esperion Therapeutics (Nasdaq: ESPR) from an Outperform rating to a Sector Perform rating.


Profit taking weighed down shares of 21Vianet Group (Nasdaq: VNET).

 

Kitov Pharmaceuticals (Nasdaq: KTOV) priced its offering of nearly 2.38 million units.


In the broad market, advancing issues outpaced decliners by a margin of nearly 7 to 1 on the NYSE and by more than 7 to 2 on Nasdaq. The broader S&P 500 surged 33 points to 2,069. Bitcoin lost $9 to $630.

The markets opened sharply higher for the second day in a row with the Dow soaring 157 points to 17,567 as consumer spending rose 0.4% in May. Nasdaq surged 59 points to 4,750. 


On the upside


Apollo Global Management will pay a premium of approximately $2.2 billion in cash to acquire Diamond Resorts International (NYSE: DRII).

 

Tesaro (Nasdaq: TSRO) reported positive results from a Phase 3 NOVA trial of niraparib to treat ovarian cancer. 


PrivateBancorp (Nasdaq: PVTB) will be acquired by Canadian Imperial Bank of Commerce (NYSE: CM) in a cash and stock deal valued at approximately $3.8 billion.


On the downside


Galena Biopharma (Nasdaq: GALE) will discontinue its Phase 3 PRESENT clinical trial due to futility.


Eclipse Resources (NYSE: ECR) priced its public offering of 37.5 million common shares at the discounted price of $3.50 per share.

 

The Food and Drug Administration issued a Complete Response Letter to Lipocine (Nasdaq: LPCN) for LPCN 1021.


In the broad market, advancing issues outpaced decliners by a margin of more than 7 to 1 on the NYSE and by more than 4 to 1 on Nasdaq. The broader S&P 500 soared 21 points to 2,057. Bitcoin tumbled $14 to $625.

Market free fall ends

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The market free fall ended after two days of colossal losses with the Dow leaping 269 points to 17,409. Nasdaq jumped 97 points to 4,691. 


On the upside


U.K. banking stocks Barclays (NYSE: BCS), Lloyds Banking Group (NYSE: LYG) and Royal Bank of Scotland (NYSE: RBS) all rebounded after the Brexit crash.

 

Bank of America (NYSE: BAC), Citigroup (NYSE: C) and JP Morgan (NYSE: JPM) recovered as well. 


Advaxis (Nasdaq: ADXS) webcast their annual Investor & Analyst Day event today.


On the downside


Investors locked in profits on Lipocine (Nasdaq: LPCN).


Profit taking continued to weigh down shares of Tersaro (Nasdaq: TSRO).

 

Shares of Natera (Nasdaq: NTRA) extended its losses.


In the broad market, advancing issues outpaced decliners by a margin of nearly 6 to 1 on the NYSE and by nearly 4 to 1 on Nasdaq. The broader S&P 500 leaped 35 points to 2,036. Bitcoin held steady at $636.

Bargain hunters lift markets

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Bargain hunters lifted the markets higher during the midday with the Dow surging 138 points to 17,279. Nasdaq soared 65 points to 4,660. 


On the upside


Xencor (Nasdaq: XNCR) entered a collaboration and license agreement with Novartis to develop and commercialize XmAb 14045 and XmAb 13676.

 

Zacks Equity Research wrote that Rocket Fuel (Nasdaq: FUEL) was one of seven Internet stocks with great charts. 


Endo International (Nasdaq: ENDP) received a patent for Vasostrict.


On the downside


Babcock & Wilcox Enterprises (NYSE: BW) slashed its 2016 profit forecast and announced plans to eliminate 200 jobs.


Piper Jaffray downgraded Meritor (NYSE: MTOR) from a Neutral rating to an Underweight rating.

 

Zacks added Fibrocell Science (Nasdaq: FCSC) to its Zacks Rank #1 List but the stock price fell.


In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 1 on the NYSE and by nearly 4 to 1 on Nasdaq. The broader S&P 500 climbed 20 points to 2,020. Bitcoin rose $4 to $639.

The markets opened sharply higher after two days of Brexit induced turmoil with the Dow soaring 191 points to 17,332. Nasdaq surged 73 points to 4,667. 


On the upside


Gannett (NYSE: GCI) will pay a premium of approximately $156 million to acquire ReachLocal (Nasdaq: RLOC).

 

Ocean Power Technologies (Nasdaq: OPTT) redeployed the PB3-A1 PowerBuoy off the coast of New Jersey. 


Shares of Twilio (NYSE: TWLO) climbed after making its market debut on Thursday before the Brexit induced market collapse.


On the downside


The Food and Drug Administration placed a clinical hold on Regulus Therapeutics' (Nasdaq: RGLS) Investigational New Drug application for the chronic hepatitis C treatment RG-101.


Telsey Advisory Group downgraded comScore (Nasdaq: SCOR) from an Outperform rating to a Market Perform rating.

 

Profit taking weighed down shares of Barrick Gold (NYSE: ABX) and Kinross Gold (NYSE: KGC).


In the broad market, advancing issues outpaced decliners by a margin of 8 to 1 on the NYSE and by more than 7 to 1 on Nasdaq. The broader S&P 500 soared 23 points to 2,024. Bitcoin rose $4 to $639.

2nd day of financial turmoil

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A second day of global financial market turmoil sent domestic markets tumbling to close sharply lower with the Dow slumping 260 points to 17,140. Nasdaq crashed 113 points to 4,594. 


On the upside


Shares of Nymox Pharmaceutical (Nasdaq: NYMX) climbed for the second day.

 

TheStreet listed Amedica (Nasdaq: AMDA) as one of five under $10 stocks poised to soar. 


Analysts upgraded Barrick Gold (NYSE: ABX), Coeur Mining (NYSE: CDE) and Eldorado Gold (NYSE: EGO).


On the downside


SS&C Technologies Holdings (Nasdaq: SSNC) completed its 2-for-1 stock split.


Global recession concerns sank shares of Whiting Petroleum (NYSE: WLL).

 

JP Morgan downgraded Deutsche Bank (NYSE: DB) from an Overweight rating to an Underweight rating.


In the broad market, declining issues outpaced advancers by a margin of more than 4 to 1 on the NYSE and by 6 to 1 on Nasdaq. The broader S&P 500 plunged 36 points to 2,000. Bitcoin climbed $17 to $634.

Brexit induced crash continues

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The Brexit induced financial market crash continued with the Dow plunging 237 points to 17,162. Nasdaq collapsed 97 points to 4,610. 


On the upside


Akers Biosciences (Nasdaq: AKER) signed its first distribution agreement for BreathScan OxiCheck.

 

TheStreet wrote that Fibrocell Science (Nasdaq: FCSC) was one of five under $10 stocks that was poised to climb. 


People's United Financial (Nasdaq: PBCT) will acquire Suffolk Bancorp (NYSE: SCNB) in a deal valued at approximately $402 million.


On the downside


Concerns that the Brexit will trigger a global recession sent shares of Cobalt International Energy (NYSE: CIE) plummeting.


Shares of Charles Schwab (NYSE: SCHW) fell again as investors consider the long term consequences of Brexit.

 

Bank of America (NYSE: BAC), Citigroup (NYSE: C) and Wells Fargo (NYSE: WFC) all fell again as fallout from Brexit continued.


In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 1 on the NYSE and by nearly 6 to 1 on Nasdaq. The broader S&P 500 plunged 34 points to 2,002. Bitcoin gained $11 to $628.

The financial bloodbath continued in the aftermath of the Brexit with the Dow plummeting 264 points to 17,136. Nasdaq plunged 86 points to 4,621. 


On the upside


Medtronic will pay a premium of approximately $1.1 billion in cash to acquire Heartware International (Nasdaq: HTWR).

 

GW Pharmaceuticals (Nasdaq: GWPH) reported positive Phase 3 results for Epidiolex to treat Lennox-Gastaut syndrome. 


Skullcandy (Nasdaq: SKUL) received an unsolicited acquisition offer from Mill Road Capital that topped the $177 million bid from Incipio.


On the downside


Analysts downgraded Barclays (NYSE: BCS), Lloyds Banking (NYSE: LYG) and Royal Bank of Scotland (NYSE: RBS).


Ford (NYSE: F) dealers in Indonesia demanded $75 million in compensation after the automaker suddenly announced in January that all operations would close in that country.

 

Concerns that the Brexit will increase costs for U.K. airlines weighed down shares of Ryanair (Nasdaq: RYAAY).


In the broad market, declining issues outpaced advancers by a margin of more than 5 to 1 on the NYSE and by nearly 5 to 1 on Nasdaq. The broader S&P 500 tumbled 34 points to 2,002. Bitcoin rose $5 to $622.

The surprising decision by British voters to leave the European Union sent global markets into a free fall with the Dow crashing 610 points to 17,400. Nasdaq collapsed 202 points to 4,707. 


On the upside


Investors seeking safe haven assets lifted shares of gold miner Sibanye Gold (NYSE: SBGL).

 

Rising interest in gold investments lifted shares of gold jewelry maker Kingold Jewelry (Nasdaq: KGJI). 


Platinum Equity increased its acquisition offer for Electro Rent (Nasdaq: ELRC) from $13.12 per share to $15.50 per share.


On the downside


Shares of Banco Santander (NYSE: SAN) and Banco Bilbao Vizcaya Argentaria (NYSE: BBVA) plunged in reaction to the Brexit vote.


Bank of America (NYSE: BAC), Citigroup (NYSE: C), Morgan Stanley (NYSE: MS) and Wells Fargo (NYSE: WFC) tumbled along with European banking stocks.

 

Avon (NYSE: AVP) will proceed with plans to relocate its headquarters to the UK despite the Brexit vote.


In the broad market, declining issues outpaced advancers by a margin of more than 5 to 1 on both the NYSE and on Nasdaq. The broader S&P 500 collapsed 75 points to 2,037. Bitcoin soared $36 to $641.

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