President Donald Trump accused OPEC of artificially inflating crude oil prices. The markets close sharply lower with the Dow plummeting 201 points to 24,462. Nasdaq plunged 91 points to 7146.


On the upside


Shares of Columbia Financial (Nasdaq: CLBK) surged in its market debut. 


Limelight Networks (Nasdaq: LLNW) swung to a profit for the first quarter as revenue rose.


Dicerna Pharmaceuticals (Nasdaq: DRNA) and Alynylam Pharmaceuticals (Nasdaq:: ALNY) settled a stolen trade secrets case.

 

On the downside 


Clearwater Paper (NYSE: CLW) reported sharply lower first quarter earnings.


Controladora Vuela Compania de Aviation (NYSE: VLRS) reported a loss for the first quarter.


ManpowerGroup (NYSE: MAN) reported higher first quarter earnings and revenue but the stock price fell.


In the broad market, declining issues outpaced advancers by a margin of 2 to 1 on the NYSE and by more than 5 to 3 on Nasdaq. The broader S&P 500 tumbled 22 points to 2,670. Bitcoin leaped $218 to $8,495.


The markets tumbled during the midday with the Dow plunging 180 points to 24,484. Nasdaq plummeted 75 points to 7162.


Wells Fargo was fined a combined $1 billion by the Consumer Financial Protection Bureau and the Office of the Comptroller of the Currency for auto insurance and mortgage lending abuses. The bank had forced clients with auto loans to buy insurance that they did not need and had charged mortgage borrowers unnecessary fees. In addition to the fine, Wells Fargo must refund customers all the fees and insurance payments that had been collected.


A former employee of SunTrust Banks may have compromised data on up to 1.5 million clients. The information stolen may include names, addresses, phone numbers and account balances but not Social Security numbers, account numbers, driver's license numbers, user IDs, passwords, or PINs. Free identity theft protection services will be offered to all SunTrust Bank clients.


Harley-Davidson is recruiting eight summer interns to ride motorcycles across the country while documenting their adventures on social media. The college students would ideally be pursuing careers in communications, marketing, public relations or social media. They will be taught how to ride a motorcycle and will be expected to post pictures, stories and videos on their own social media accounts as well as Harley-Davidson's channels.


In the broad market, declining issues outpaced advancers by a margin of nearly 2 to 1 on the NYSE and by nearly 5 to 3 on Nasdaq. The broader S&P 500 dropped 19 points to 2,673. Bitcoin soared $187 to $8,464.


Flat open as crude oil eases

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The markets opened flat with the Dow slipping 7 points to 24,657 as crude oil prices eased. Nasdaq fell 18 points to 7220.


On the upside


Ericsson (Nasdaq: ERIC) narrowed losses for the first quarter. 


Jana Partners acquired a 9.1% stake in Pinnacle Foods (NYSE: PF).


Cleveland-Cliffs (NYSE: CLF) reported better than expected results for the first quarter.

 

On the downside 


Skechers USA (NYSE: SKX) reported first quarter earnings and revenue that fell short of expectations and forecast second quarter results below analyst estimates.


Mattel (Nasdaq: MAT) named Ynon Kreiz to replace chief executive Margaret Georgiadis.


Atlassian (Nasdaq: TEAM) narrowed losses for the third quarter more than expected but the company forecast current quarter earnings below estimates.


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 eased a point to 2,692. Bitcoin surged $199 to $8,476.


Trade concerns send markets lower

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Trade concerns sent the markets down to a lower close with the Dow falling 83 points to 24,664. Nasdaq dropped 57 points to 7238.


On the upside


Applied Optoelectronics (Nasdaq: AAOI) will release first quarter financial on Tuesday, May 8, 2018. 


Webster Financial (NYSE: WBS) reported higher first quarter earnings and revenue.


The Food and Drug Administration approved Sientra's (Nasdaq: SIEN) PMA supplemental allowing commercialization of its OPUS-branded breast implant products.

 

On the downside 


Aceto (Nasdaq: ACET) is negotiating for a waiver of its credit agreements and will evaluate its strategic alternatives.


Pier 1 Imports (NYSE: PIR) disappointed with lower fourth quarter earnings and revenue that fell short of expectations and announced that it will no longer pay a quarterly dividend.


Paratek Pharmaceuticals (Nasdaq: PRTK) priced its private offering of $140 million of convertible senior notes.


In the broad market, declining issues outpaced advancers 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 fell 15 points to 2,693. Bitcoin added $22 to $8,219.


CalOSHA investigates Tesla

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The markets continued falling during the midday with the Dow plunging 133 points to 24,614. Nasdaq tumbled 63 points to 7232.


California's Occupational Safety and Health Administration initiated an investigation into Tesla's manufacturing facility for possible violations of safety rules. The regulatory agency has received reports documenting workplace hazards as well as allegations that work related injuries are underreported. The injuries log of the elective vehicle maker is being reviewed to ensure that serious injuries are reported as required by law.


Polaris Industries has recalled approximately 3,300 Indian brand motorcycles to fix a faulty switch. Corrosion in the switch can cause the engine to start unintentionally in eleven different models of motorcycles from model yer 2018. The switch will be replaced at a dealership for free.


The American Federal of Teachers will no longer recommend Wells Fargo as a mortgage lender to its union members. The union had urged the bank to severe relations with firearms businesses in the wake of the February 14 Parkland shooting that killed 17 students and staff at Marjory Stonemason Douglas High School. Wells Fargo said that gun violence is best addressed through political and legislative processes rather than through businesses.


In the broad market, declining issues outpaced advancers by a margin of more than 5 to 2 on the NYSE and by more than 5 to 3 on Nasdaq. The broader S&P 500 fell 19 points to 2,688. Bitcoin climbed $74 to $8,271.


Renewed concerns about the negative economic impact of tariffs weighed the market down to a lower open with the Dow losing 37 points to 24,711. Nasdaq falling 37 points to 7258.


On the upside


Shire (Nasdaq: SHPG) rejected an acquisition offer worth approximately $61 billion from Takeda Pharmaceutical. 


BRF (NYSE: BRFS) lifted a ban on nine processing plants.


American Express (NYSE: AXP) reported higher first quarter earnings and revenue that beat analyst expectations.

 

On the downside 


First quarter revenue for Philip Morris (NYSE: PM) fell short of expectations.


Taiwan Semiconductor Manufacturing (NYSE: TSM) reported first quarter earnings that misses analyst estimates.


Morgan Stanley downgraded The Clorox Company (NYSE: CLX) from an Equal Weight rating to an Underweight rating and cut its price target from $128.00 to $116.00.


In the broad market, declining issues outpaced advancers by a margin of nearly 2 to 1 on the NYSE and by nearly 3 to 2 on Nasdaq. The broader S&P 500 losing 7 points to 2,701. Bitcoin added $22 to $8,219.


The Federal Reserve's Beige Book reported that the nation's economy continued to grow but widespread concern has been raised about proposed tariffs. The markets closed mixed with the Dow losing 38 points to 24,748 while Nasdaq rose 14 points to 7295.


On the upside


SunPower (Nasdaq: SPWR) will acquire rival SolarWorld Americas to avoid solar panel tariffs. 


Scientific Games (Nasdaq: SGMS) launched an online sports betting platform in Hungary.


SunTrust Banks established a price target of $25.00 on Carrizo Oil & Gas (Nasdaq: CRZO).

 

On the downside 


Shares of streaming platform Roku (Nasdaq: ROKU) plunged after Best Buy (NYSE: BBY) announced an exclusive partnership to sell Amazon (Nasdaq: AMZN) Fire smart TV products.


Fred's (Nasdaq: FRED) delayed the release of its fourth quarter and full year earnings report.


Dynagas LNG Partners (NYSE: DLNG) reduced its quarterly distribution from $0.4225 per common unit to $0.25 per common unit.


In the broad market, advancing issues outpaced decliners by a margin of 5 to 4 on the NYSE and by nearly 6 to 5 on Nasdaq. The broader S&P 500 added 2 points to 2,708. Bitcoin jumped $292 to $8,200.


The markets traded mixed during the midday with the Dow slipping 4 points to 24,782. Nasdaq gained 26 points to 7307.


Volkswagen partnered with Walmart to install electric vehicle charging stations at Walmart locations across the country. Stores along highways will be equipped with approximately 80% of the charges while metro areas will receive 20% of the charging stations. Volkswagen's Electrify America unit plans to install charging stations at more than 100 Walmart locations by June 2019.


Best Buy will be the exclusive seller of Amazon Fire-edition smart televisions beginning this summer. Customers will be able to choose from more than ten 4K and HD Fire TV Edition televisions equipped with Amazon Fire TV. The televisions will be able to stream content from Hulu, HBO, Netflix, and Prime Video and will be able to pair with any Echo device.


Amazon launched an international shopping feature that allows customers from around the world to purchase items from the United States. The new shopping feature is currently available in Brazilian Portuguese, simplified Chinese, English, German and Spanish and allows transactions in 25 currencies. Shipping costs and import duties will be displayed for transparency.


In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 3 on the NYSE and by more than 5 to 3 on Nasdaq. The broader S&P 500 rose 7 points to 2,714. Bitcoin leaped $208 to $8,116.


Rising crude oil prices lifted the markets to a higher open with the Dow gaining 34 points to 24,820. Nasdaq rose 11 points to 7292.


On the upside


The Food and Drug Administration approved the abbreviated new drug application for Teligent's (Nasdaq: TLGT) Clobetasol Propionate Cream USP, 0.05%. 


Rising crude oil prices lifted Denbury Resources (NYSE: DNR) and W&T Offshore (NYSE: WTI).


Textron (NYSE: TXT) reported higher first quarter earnings and revenue that beat expectations.

 

On the downside 


International Business Machines (NYSE: IBM) reported better than expected earnings and revenue for the second quarter but profit margins fell.


Goldman Sachs downgraded Juniper Networks (NYSE: JNPR) from a Neutral rating to a Sell rating and cut its price target from $26.00 to $21.00.


Lam Research (Nasdaq: LCRX) reported sharply highly third quarter earnings that topped analyst estimates as revenue climbed but the stock price fell.


In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 3 on the NYSE and by nearly 4 to 3 on Nasdaq. The broader S&P 500 added 4 points to 2,710. Bitcoin surged $187 to $8,095.


Markets soar on strong earnings

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Strong earnings sent the markets soaring to close sharply higher with the Dow jumping 213 points to 24,786. Nasdaq leaped 124 points to 7281.


On the upside


ArQule (Nasdaq: ARQL) entered an exclusive license agreement with Basilea Pharmaceutica International to develop and commercialize derazantinub. 


Shares of Fred's (Nasdaq: FRED) rose ahead of its earnings release tomorrow before market open.


The Food and Drug Administration is expected to approve GW Pharmaceuticals' (Nasdaq: GWPH) seizure treatment that is made with cannabidiol.

 

On the downside 


The Sears Holdings (Nasdaq: SHLD) store at Asheville Mall will begin liquidation sales at the end of the month and will close by mid-July.


Rumors circulated that GoPro (Nasdaq: GPRO) may be acquired but the stock price fell.


REV Group (NYSE: REVG) announced the return of Tom Phillips as chief operating officer.


In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 2 on the NYSE and by more than 2 to 1 on Nasdaq. The broader S&P 500 soared 28 points to 2,706. Bitcoin tumbled $89 to $7,918.


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