The markets closed flat with the Dow slipping 9 points to 22,349 as North Korean leader Kim Jong Un and President Donald Trump continued to trade insults. Nasdaq rose 4 points to 6,426.


On the upside


Credit Suisse analyst Alethia Young lifted her price target on Ascendis Pharma (Nasdaq: ASND) from $30.00 to $50.00.


Marinus Pharmaceuticals (Nasdaq: MRNS) will present at the Cantor Fitzgerald Global Healthcare Conference on Wednesday, September 27, 2017.


Bargain hunters lifted shares of L Brands (NYSE: LB).

 

On the downside


Compass Minerals International's (NYSE: CMP) Goodrich, Ontario rock salt mine is operating at reduced rates.


Versartis (Nasdaq: VSAR) reported disappointing results from a VELOCITY Phase 3 clinical trial of somavaratan to treat pediatric growth hormone deficiency.

 

Secoo Holding (Nasdaq: SECO) priced its public offering of 8.5 million American depositary shares at the discounted price of $13.00 per share.


In the broad market, advancing issues outpaced advancers by a margin of nearly 2 to 1 on the NYSE and by nearly 9 to 8 on Nasdaq. The broader S&P 500 added a point to 2,502. Bitcoin dropped $49 to $3,605.


Uber loses license to operate in London

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The markets traded lower during the midday with the Dow losing 28 points to 22,330. Nasdaq slipped 2 points to 6,420.


Uber's license to operate in London was not renewed by the capital of England's taxi regulator agency, Transport for London. The ride hailing app will appeal the decision but continue to provide service to its 3.5 million users in the interim. Transport for London cited Uber's approach to reporting criminal offenses, obtaining of medical certificates and checking driver backgrounds as reasons for denying the license renewal.


Hewlett Packard Enterprises will eliminate approximately 10% of its global workforce by the end of the year as part of its plans to lower expenses. The company will shutter underperforming units and direct its resources to its cloud computing services. HPE is transforming itself from a servers and storage provider to an enterprise cloud company.


After a disappointing quarter, Time said that it was exploring the potential sale of certain assets. The publisher of People, Sports Illustrated and Time may sell Time Customer Service and other businesses that represent nearly 17% of its total annual revenue. Magazine circulation and advertising revenue both tumbled 12% in the second quarter.


In the broad market, advancing issues outpaced advancers by a margin of more than 5 to 3 on the NYSE and by more than 3 to 2 on Nasdaq. The broader S&P 500 held steady at 2,500. Bitcoin tumbled $67 to $3,586.


North Korea's threat to test a nuclear missile rattled investors sending the markets down to a lower open with the Dow losing 25 points to 22,334. Nasdaq fell 21 points to 6,401.


On the upside


Juno Therapeutics (Nasdaq: JUNO) priced its public offering of 6.1 million common shares at the discounted price of $41.00 per share.


CarMax (NYSE: KMX) reported higher second quarter earnings and revenue that topped analyst estimates.


Sprint (NYSE: S) and T-Mobile (Nasdaq: TMUS) are close to finalizing a deal to merge.

 

On the downside


Leerink Partners downgraded Exelixis (Nasdaq: EXEL) from an Outperform rating to a Market Perform rating and slashed its price target from $34.00 to $28.00.


Concerns about weakness in the steel industry weighed down shares of U.S. Steel (NYSE: X).

 

Analysts expect BlackBerry's (Nasdaq: BBRY) revenue to fall in 2018.


In the broad market, advancing issues outpaced advancers by a margin of nearly 2 to 1 on the NYSE and by nearly 9 to 8 on Nasdaq. The broader S&P 500 slipped 3 points to 2,497. Bitcoin tumbled $84 to $3,570.


SEC cyber breach weighs down stocks

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A cyber breach of the Securities and Exchange Commission's computer system weighed the markets down to a lower close with the Dow falling 53 points to 22,359. Nasdaq dropped 33 points to 6,422.


On the upside


IBC2017 awarded a NewBay Best of Show Award to the artificial intelligence solution to aiWARE for Xcellis from Veritone (Nasdaq: VERI) and Quantum (NYSE: QTM).


Zacks Investment Research upgraded Kindred Healthcare (NYSE: KND) from a Sell rating to a Hold rating.


Third Point Reinsurance (NYSE: TPRE) will be added to the S&P SmallCap 600 before market open on Tuesday, September 26, 2017.

 

On the downside


The Food and Drug Administration warned that Intercept Pharmaceuticals' (Nasdaq: ICPT) Ocalivia may cause liver damage and possible death.


Juno Therapeutics (Nasdaq: JUNO) announced a follow-on public offering of $225 million of its common stock.

 

Investors locked in profits on Atwood Oceanics (NYSE: ATW).


In the broad market, declining issues outpaced advancers by a margin of 4 to 3 on the NYSE and by 5 to 4 on Nasdaq. The broader S&P 500 fell 7 points to 2,500. Bitcoin crashed $286 to $3,652.


The markets traded lower during the midday with the Dow losing 35 points to 22,377. Nasdaq fell 14 points to 6,441.


The European Commission is exploring the possibility of updating its corporate tax code in order to increase tax revenue from online firms. Digital companies such as Facebook and Google avoid paying taxes in most European countries by rerouting their profits to jurisdictions with low tax rates such as Ireland. Some options being considered are taxes on online ads or a withholding tax on payments to online multinational firms.


CVS announced plans to tackle the opioid epidemic that caused approximately 64,000 drug overdose deaths last year. Prescriptions for opioids will be limited to seven days for new patients while funding for addiction programs will be increased. Pharmacists at the drug store chain's locations will call doctors if they notice prescriptions that seem too strong to treat a patient's condition.


Google is expanding its smartphone hardware business with a $1.1 billion acquisition of HTC's phone design and engineering division. HTC makes Google's Pixel smartphone, which accounts for less than one percent of the world's smartphone market share. The acquisition includes a non-exclusive license for HTC's intellectual property but does not include any manufacturing assets.


In the broad market, declining issues outpaced advancers by margin of nearly 6 o 5 on the NYSE while advancers barely edged out decliners by a slim margin on Nasdaq. The broader S&P 500 fell 4 points to 2,503. Bitcoin collapsed $236 to $3,702.


Flat open over potential rate hike

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A potential rate hike kept investor enthusiasm in check. The markets opened flat with the Dow adding 2 points to 22,414 while Nasdaq lost 8 points to 6,448.


On the upside


Anadarko Petroleum (NYSE: APC) will repurchase up to $2.5 billion worth of stock.


The Food and Drug Administration granted orphan drug designation to Amicus Therapeutics' (Nasdaq: FOLD) ATB200/AT2221.


Calgon Carbon (NYSE: CCC) will be acquired by Kuraray for a premium of approximately $1.1 billion in cash.

 

On the downside


Nvidia (Nasdaq: NVDA) client Tesla (Nasdaq: TSLA) will work with Advanced Micro Devices (Nasdaq: AMD) to develop an artificial intelligence chip for autonomous cars.


Chevron (NYSE: CVX) terminated a drilling contract with Transocean (NYSE: RIG) for the ultra-deepwater drillship Discoverer Clear Leader.

 

Acceleron Pharma (Nasdaq: XLRN) priced its public offering of more than 5.4 million shares of common stock at the discounted price of $37.00 per share.


In the broad market, advancing issues barely edged out decliners by a slim margin on the NYSE while decliners outpaced advancers by 5 to 4 on Nasdaq. The broader S&P 500 eased a point to 2,507. Bitcoin plunged $73 to $3,864.


Mixed close over potential rate hike

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The Federal Reserve held interest rates steady but indicated that there would be at least one rate increase by the end of the year. The markets closed mixed with the Dow gaining 41 points to 22,412 while Nasdaq slipped 5 points to 6,456.


On the upside


Shares of Argentinian online travel company Despegar (NYSE: DESP) surged in its market debut.


The stock price of biopharmaceutical Zai Lab (Nasdaq: ZLAB) leaped on its first trading day.


Arbutus Biopharma's (Nasdaq: ABUS) licensee Alnylam Pharmaceuticals (Nasdaq: ALNY) reported upbeat APOLLO Phase 3 study results of patisiran, which is enabled by Arbutus's lipid nanoparticle technology.

 

On the downside


Maxwell Technologies (Nasdaq: MXWL) will offer $50 million in convertible senior notes.


Iovance Biotherapeutics (Nasdaq: IOVA) will offer $50 million of its common stock through a public offering.

 

Nabriva Therapeutics (Nasdaq: NBRV) priced its public offering of more than 9.4 million common shares at the discounted price of $8.50 per share.


In the broad market, advancing issues outpaced decliners by a margin of 5 to 4 on the NYSE and by nearly 4 to 3 on Nasdaq. The broader S&P 500 added a point to 2,508. Bitcoin climbed $65 to $3,961.


Pfizer sues Johnson & Johnson

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The markets traded lower during the midday with the Dow slipping 5 points to 22,365. Nasdaq dropped 26 points to 6,434.


Pfizer has sued Johnson & Johnson for engaging in anticompetitive practices over J&J's rheumatoid arthritis and Crohn's disease treatment Remicade. Pfizer alleged that J&J forced insurers to sign contracts giving preference to Remicade over Pfizer's Inflectra and threatened to withhold rebates if Inflectra was deemed an acceptable alternative to Remicade. Pfizer asserted that the actions of J&J created a monopoly for Remicade.


UPS plans to hire approximately 95,000 employees for the holiday shopping season. The package delivery service works closely with retailers in order to properly staff its locations as daily average volume surges from a normal of 19 million packages to more than 30 million packages. Nearly 35% of the seasonal employees will transition into full time employees.


Toshiba ended weeks of speculation about the future of its semiconductor business. The world's second largest producer of NAND memory chips will be sold to an investment group led by Bain Capital for approximately $18 billion. Toshiba's joint venture partner Western Digital,which was also bidding for the chip business, may sue to block the deal.


In the broad market, advancing issues outpaced decliners by a margin of nearly 6 to 5 on both the NYSE and on Nasdaq. The broader S&P 500 lost 4 points to 2,502. Bitcoin soared $93 to $3,989.


The markets opened lower with the Dow slipping 19 points to 22,351 as existing home sales fell 1.7% in August. Nasdaq eased 2 points to 6,459.


On the upside


Alnylam Pharmaceuticals (Nasdaq: ALNY) reported positive results from the APOLLO Phase 3 study of patisiran in hereditary ATTR amyloidosis with polyneuropathy.


Facts Reporter issued an investor research report on International Game Technology (NYSE: IGT) noting that the company had a consensus recommendation rating of 2.2 on a scale from 1 to 5 with 1 being a Strong Buy and 5 being a Strong Sell.


Analysts expect USG (NYSE: USG) to report quarterly sales of $803.29 million.

 

On the downside


Bed Bath & Beyond (Nasdaq: BBBY) disappointed with sharply lower second quarter earnings that fell far short of analyst expectations.


First quarter earnings and revenue missed expectations for General Mills (NYSE: GIS).

 

Western Digital (Nasdaq: WDC) lost its bid to buy Toshiba's semiconductor business.


In the broad market, advancing issues outpaced decliners by a margin of 3 to 2 on the NYSE and by more than 4 to 3 on Nasdaq. The broader S&P 500 held steady at 2,506. Bitcoin gained $30 to $3,927.


The markets closed higher with the Dow gaining 39 points to 22,370 as investors await the Federal Reserve's concluding statement. Nasdaq rose 6 points to 6,46.


On the upside


Shares of Veritone (Nasdaq: VERI) climbed for the fourth day.


President Donald Trump may ease restrictions on gun sales to foreign buyers which sent shares of Sturm, Ruger & Co. (NYSE: RGR) soaring.


Rumors swirled that Chicago Bridge & Iron (NYSE: CBI) may be acquired.

 

On the downside


Siris Capital Group ended its efforts to acquire Synchronoss Technologies (Nasdaq: SNCR).


Supernus Pharmaceuticals (Nasdaq: SUPN) has eliminated a lower dose option of its Phase 3 clinical trial of SPN-810 to treat impulsive aggression in patients aged 6 to 12 years who have attention deficit hyperactivity disorder.

 

MediWound (Nasdaq: MDWD) priced its public offering of 4.4 million common shares at the discounted price of $5.00 per share.


In the broad market, advancing issues outpaced decliners by a margin of nearly 6 to 5 on the NYSE while advancers barely edged out decliners by a slim margin on Nasdaq. The broader S&P 500 added 2 points to 2,506. Bitcoin plummeted $177 to $3,890.


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