The Supreme Court allowed the implementation of certain parts of President Donald Trump's travel ban before the court hears the case in October. The markets closed mixed with the Dow rising 14 points to 21,409. Nasdaq lost 18 points to 6,247.


On the upside


Needham & Co. lifted its price target on Fabrinet (NYSE: FN) from $56.00 to $60.00.


Apple (Nasdaq: AAPL) will lease six Lexus SUVs from Hertz Global (NYSE: HTZ) to test its autonomous car technology.


Fred's (Nasdaq: FRED) expanded its strategic relationship with Nielsen (NYSE: NLSN).


On the downside


BidaskClub downgraded Mobile TeleSystems (NYSE: MBT) from a Hold rating to a Sell rating. 


Goldman Sachs downgraded Stratasys (Nasdaq: SSYS) from a Neutral rating to a Sell rating.

 

Ameriprise Financial increased its stake in Applied Optoelectronics (Nasdaq: AAOI) by 21.8% in the first quarter to 115,735 shares.


In the broad market, advancing issues outpaced decliners by a margin of nearly 2 to 1 on the NYSE and by nearly 6 to 5 on Nasdaq. The broader S&P 500 edged up a fraction to 2,439. Bitcoin plunged $135 to $2368.


The markets traded mixed during the midday with the Dow gaining 47 points to 21,442. Nasdaq lost 8 points to 6,256.


After the successful launch of the NES Classic over the holidays, Nintendo announced plans to release the Super NES Classic. The miniature console will be available on September 29, 2017. The device will be preloaded with 21 games including Donkey Kong Country and Super Mario Kart and will come with two wireless SNES controllers.


BMW will invest $600 million in its manufacturing facility in Spartanburg, South Carolina, which is its largest plant in the world.  The German automaker plans to build its X model vehicles at the facility and will increase its workforce by 1,000 people to over 10,000 workers. The facility produced at record 411,000 vehicles in 2016.


Takata filed for Chapter 11 bankruptcy protection. Fined $1 billion for its faulty airbag inflators, the Japanese auto supplier must reorganize its debt and sell most of its assets. Rival Key Safety Systems will pay approximately $1.6 billion to acquire most of Takata's operations.


In the broad market, advancing issues outpaced decliners by a margin of more than 7 to 3 on the NYSE and by nearly 3 to 2 on Nasdaq. The broader S&P 500 rose 4 points to 2,442. Bitcoin plummeted $136 to $2366.


The markets opened mixed with the Dow gaining 30 points to 21,425 while Nasdaq fell 28 points to 6,236 as crude oil prices slipped.


On the upside


Berkshire Hathaway acquired a 9.8% stake in Store Capital (NYSE: STOR) for approximately $377 million.


Google's Waymo selected Avis Budget Group (Nasdaq: CAR) to service and support autonomous vehicles in Phoenix.


Bargain hunters lifted shares of Rite Aid (NYSE: RAD).


On the downside


Emails surfaced that Arconic (NYSE: ARNC) supplied combustible panels that were used at the Grenfell Tower in London that caught on fire on June 14 and killed at least 79 people. 


Morgan Stanley downgraded GrubHub (NYSE: GRUB) to an Equal Weight rating from an Overweight rating a cut its price target from $47.00 to $43.00.

 

Seattle Genetics (Nasdaq: SGEN) reported upbeat results from a Phase 3 ECHELON-1 clinical trial of adcetris to treat classical Hodgkin lymphoma but the stock price fell.


In the broad market, advancing issues were on par with decliners on the NYSE while advancers barely edged out decliners by a slim margin on Nasdaq. The broader S&P 500 added a point to 2,439. Bitcoin tumbled $62 to $2440.


Crude oil prices edged up again to lift the markets to a higher close with the Dow slipping 2 points to 21,394. Nasdaq climbed 28 points to 6,265.


On the upside


Cowen initiated coverage of AdvanSix (NYSE: ASIX) with an Outperform rating.


Bargain hunters continued to snap up shares of EQT (NYSE: EQT).


The Food and Drug Administration approved Portola Pharmaceuticals' (Nasdaq: PTLA) blood clot prevention drug Bevyxxa.


On the downside


Investors locked in profits on InVivo Therapeutics (Nasdaq: NVIV). 


Quantitative Investment Management slashed its stake in Sysco (NYSE: SYY) by 62.5%.

 

Profit taking weighed down shares of Infinity Pharmaceuticals (Nasdaq: INFI).


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 added 3 points to 2,438. Bitcoin fell $9 to $2682.


The markets traded mixed during the midday with the Dow falling 25 points to 21,371. Nasdaq gained 15 points to 6,252.


Ford Motor is recalling 15,600 vehicles in South Africa to correct a potential fire risk. Owners of model years 2004 through 2012 Ikon and Figo vehicles that were built in India have been asked to contact dealerships to schedule appointments to replace certain parts of the car. Power steering fluid may leak and come into contact with the vehicle's exhaust system creating smoke and possibly a fire.


Sears Holdings announced additional store closures in its continuing efforts to return to profitability. The department store operator added 20 new locations to its list of 245 stores that will close this year. Eighteen of the closures will be Sears stores while two will be Kmart.


Amazon submitted a patent application for a drone hive to facilitate package deliveries by drones. Drawings of the fulfillment centers depict a tower with nine stories that contain items that are ready to be shipped to customers. Drones fly to the appropriate zone in the hive to collect packages then deliver them to customers.


In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 3 on the NYSE and by 7 to 5 on Nasdaq. The broader S&P 500 edged up a fraction to 2,435. Bitcoin added $6 to $2699.


Stabilizing energy prices lifted the markets to a higher open with the Dow rising 17 points to 21,414. Nasdaq gained 15 points to 6,252.


On the upside


Deutsche Bank upgraded U.S. Steel (NYSE: X) from a Hold rating to a Buy rating.


Deutsche Bank analyst Jorge Beristain upgraded AK Steel (NYSE: AKS) to a Buy rating from a Hold rating.


Synchronoss (Nasdaq: SNCR) received an unsolicited acquisition offer from Siris Capital Group for a premium of $18.00 per share in cash.


On the downside


BlackBerry (Nasdaq: BBRY) reported first quarter revenue that fell short of analyst expectations. 


Bed Bath & Beyond (Nasdaq: BBBY) disappointed with sharply lower first quarter earnings that missed expectations by a wide margin.

 

Ocular Therapeutix (Nasdaq: OCUL) named Antony Mattessich as its next chief executive.


In the broad market, advancing issues outpaced decliners by a margin of nearly 8 to 3 on the NYSE and by 2 to 1 on Nasdaq. The broader S&P 500 rose 5 points to 2,439. Bitcoin added $6 to $2698.


The markets closed mixed with the Dow losing 12 points to 21,397 as first time applications for unemployment benefits rose. Nasdaq added 2 points to 6,236.


On the upside


Shares of Canadian Solar (Nasdaq: CSIQ) and Sunpower (Nasdaq: SPWR) rose after President Donald Trump suggested installing solar panels on the Mexican border wall.


Shares of Altice (NYSE: ATUS) surged on its first trading day


Zacks Investment Research upgraded Teekay Tankers (NYSE: TNK) to a Hold rating from a Sell rating.


On the downside


Opko Health (Nasdaq: OPK) announced that the Kidney Disease Improving Global Outcomes organization updated in Clinical Practice Guideline for the Diagnosis, Evaluation, Prevention and Treatment of Chronic Kidney Disease-Mineral and Bone Disorder. 


Chinese regulators ordered Weibo, majority owned by Sina (Nasdaq: SINA), to stop all audio and video streaming.

 

Shares of Safety Income & Growth (NYSE: SAFE) fell on its first trading day.


In the broad market, declining issues outpaced advancers by a margin of more than 4 to 3 on the NYSE and by nearly 3 to 2 on Nasdaq. The broader S&P 500 added a point to 2,434. Bitcoin climbed $29 to $2665.


The markets opened higher with the Dow gaining 43 points to 21,453 as crude oil prices edged up. Nasdaq rose 8 points to 6,242.


On the upside


Oracle (NYSE: ORCL) reported higher fourth quarter earnings and revenue that beat analyst expectations.


Enel Group will pay a premium of approximately $300 million in cash to acquire EnerNOC (Nasdaq: ENOC).


Reuters reported that Sycamore Partners was engaged in advanced discussions to acquire Staples (Nasdaq: SPLS).


On the downside


Steelcase (NYSE: SCS) reported lower first quarter earnings that fell short of expectations and forecast current quarter results below estimates. 


Third quarter earnings fell for Accenture (NYSE: ACN) prompting the consulting firm to lower its margin outlook.

 

Jernigan Capital (NYSE: JCAP) priced its upsized public offering of 3.5 million common shares at the discounted price of $22.00 per share.


In the broad market, declining issues outpaced advancers by a margin of more than 5 to 3 on the NYSE and by nearly 3 to 2 on Nasdaq. The broader S&P 500 rose 5 points to 2,440. Bitcoin soared $49 to $2685.


The markets closed mixed with the Dow falling 57 points to 21,410 over concerns about falling energy prices. Nasdaq soared 45 points to 6,233.


On the upside


La-Z-Boy (NYSE: LZB) reported higher fourth quarter earnings that topped analyst estimates.


Winnebago Industries (NYSE: WGO) reported sharply higher third quarter earnings and revenue that beat analyst expectations.


Bargain hunters continued to lift shares of Pandora Media (NYSE: P).


On the downside


Shares of Carrizo Oil & Gas (Nasdaq: CRZO) fell over concerns of falling crude oil prices. 


Seaport Global Securities downgraded Eclipse Resources (Nasdaq: ECR) from a Buy rating to a Neutral rating.

 

Morgan Stanley reiterated its Equal Weight rating for Superior Energy Services (NYSE: SPN).


In the broad market, declining issues outpaced advancers by a margin of more than 5 to 3 on the NYSE and by nearly 9 to 8 on Nasdaq. The broader S&P 500 eased a point to 2,435. Bitcoin eased to $2635.


The markets opened higher with the Dow holding steady at 21,467 as crude oil prices recovered. Nasdaq leaped 40 points to 6,228.


On the upside


Red Hat (NYSE: RHT) reported higher first quarter earnings and revenue that topped analyst estimates and lifted its forecast prompting an upgrade.


Bloomberg reported that BMC Software was exploring a possible acquisition of CA (Nasdaq: CA).


An independent radiology review committee confirmed positive results of Exelixis' (NYSE: EXEL) Cabometyx to treat intermediate or poor risk advanced renal cell carcinoma.


On the downside


Macquarie cut its price target on Chicago Bridge & Iron (NYSE: CBI) from $11.50 to $10.00. 


Sangamo Therapeutics (Nasdaq: SGMO) priced its public offering of 10 million common shares at the discounted price of $7.25 per share.

 

Dick's Sporting Goods (NYSE: DKS) will open a technology center in San Diego.


In the broad market, advancing issues outpaced decliners by a margin of 5 to 4 on the NYSE and by more than 5 to 3 on Nasdaq. The broader S&P 500 added 2 points to 2,439. Bitcoin tumbled $50 to $2683.


Monthly Archives

Powered by Movable Type 5.12