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.

Mixed close after Russians indicted

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The markets closed mixed with the Dow rising 19 points to 25,219 while Nasdaq lost 16 points to 7239 after 13 Russians were indicted for interfering with the 2016 presidential elections.


On the upside


Citigroup upgraded Calithera Biosciences (Nasdaq: CALA) from a Neutral rating to a Buy rating.


Shares of U.S. Steel (NYSE: X) and AK Steel (NYSE: AKS) soared on news that the Commerce Department recommended the enactment of steep tariffs on foreign steel.


Fourth quarter earnings surged for Cowen (Nasdaq: COWN).

 

On the downside 


Cloud Peak Energy (NYSE: CLD) disappointed with sharply lower fourth quarter earnings that fell short of expectations.


Impinj (Nasdaq: PI) fell to a greater than expected loss for the fourth quarter.


Pacira Pharmaceuticals (Nasdaq: PCRX) will present at the 2018 RBC Capital Markets Healthcare Conference.


In the broad market, advancing issues outpaced decliners by a margin of more than 4 to 3 on both the NYSE and on Nasdaq. The broader S&P 500 added a point to 2,732. Bitcoin tumbled $107 to $10,122.


Walmart may take stake in Flipkart

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The markets reversed course during the midday with the Dow gaining 41 points to 25,241. Nasdaq added a point to 7258.


Walmart is rumored to be engaged in discussions to acquire a significant stake in Flipkart. The infusion of cash would provide the Indian e-commerce site the resources to fend off a challenge by Amazon, which has plans to spend $5 billion to expand in India. SoftBank invested $2.5 billion last year in Flipkart for a 20% stake which values the company at $12 billion.


The Court of Brussels has ordered Facebook to immediately stop its practice of tracking the online behavior of Belgians through third party websites. Belgium's Privacy Commission sued the social media giant for illegally collecting and storing information about people. Facebook will be fined 250,000 euros per day or up to 100 million euros (approximately $125 million) if the tracking continues.


Uber has changed some of its safety protocols in London in order to regain its operating license that was not renewed in September 2017. A new 24-hour support line will be launched later this year for riders and drivers to report complaints to an actual live person rather than submitting complaints through the Uber app. Passenger complaints that are serious in nature will be forwarded to the police automatically which is a shift from the current practice of encouraging riders to report problems to the police.


In the broad market, advancing issues outpaced decliners 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 rose 6 points to 2,738. Bitcoin plunged $165 to $9,934.


Lower open as import prices rise

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The markets opened lower with the Dow losing 35 points to 25,165 as import and export prices rose. Nasdaq fell 20 points to 7236.


On the upside


MuleSoft (NYSE: MULE) reported sharply higher fourth quarter earnings and forecast full year results ahead of estimates.


Wendy's (Nasdaq: WEN) lifted its quarterly dividend to 8.5 cents per share payable on March 15 to shareholders of record March 1 and announced a stock repurchase plan of $175 million.


Synchronoss Technologies (Nasdaq: SNCR) has closed the sale of $185 million in preferred stock.

 

On the downside 


Arista Networks (NYSE: ANET) reported higher fourth quarter earnings and revenue but the stock price fell.


VF Corp. (NYSE: VFC) fell to a loss for the fourth quarter.


Cogenex (Nasdaq: CGNX) fell to a loss for the fourth quarter.


In the broad market, advancing issues outpaced decliners by a margin of nearly 3 to 2 on the NYSE and by more than 3 to 2 on Nasdaq. The broader S&P 500 lost 4 points to 2,727. Bitcoin lost $56 to $10,043.


The markets continued to rally with the Dow rocketing 306 points to close at 25,200 despite a gain in producer prices. Nasdaq leaped 112 points to 7256.


On the upside


The Food and Drug Administration approved the Makena subcutaneous auto injector that was developed by AMAG Pharmaceuticals (Nasdaq: AMAG) and Antares Pharma (Nasdaq: ATRS).


SolarEdge Technologies (Nasdaq: SEDG) reported higher fourth quarter earnings that topped analyst estimates.


Syntel (Nasdaq: SYNT) reported stronger than expected earnings for the fourth quarter.

 

On the downside 


Textainer Group Holdings (NYSE: THG) swung to a profit for the fourth quarter but the stock price tumbled.


Fourth quarter earnings surged for CAI International (NYSE: CAI) due to a tax benefit but the stock price plunged.


Rush Enterprises (Nasdaq: RUSHA) reported sharply higher fourth quarter earnings and revenue but the stock price plummeted.


In the broad market, advancing issues outpaced decliners by a margin of nearly 7 to 3 on both the NYSE and on Nasdaq. The broader S&P 500 surged 32 points to 2,731. Bitcoin jumped $526 to $9,983.


McDonald's to revamp Happy Meals

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The markets extended its gains during the midday with the Dow jumping 237 points to 25,130. Nasdaq surged 97 points to 7241.


McDonald's announced plans to redesign its Happy Meals so that they are healthier. All Happy Meals sold in the U.S. will have a maximum of 600 calories with 10% of the calories coming from saturated fat and 10% from added sugar beginning in June. Bottled water will be added as  a drink option while cheeseburgers will only be available upon request.


U.S. Bancorp has agreed to pay civil and criminal penalties totaling $613 million for lax oversight of suspicious transactions. Payday lender Scott Tucker was able to run an illegal scheme because U.S. Bank ignored transaction monitoring alerts. Tucker is now serving a 16 year sentence for laundering millions of dollars through sham bank accounts.


Amazon will settle allegations of Federal Insecticide, Fungicide and Rodenticide Act violations by agreeing to pay more than $1.2 million in penalties. The Environmental Protection Agency has accused the retail giant of allowing third parties to sell illegal pesticides that may dangerous to communities. Amazon has committed to closely monitoring and removing illegal pesticides from its websites.


In the broad market, advancing issues outpaced decliners by a margin of nearly 7 to 3 on both the NYSE and on Nasdaq. The broader S&P 500 climbed 26 points to 2,724. Bitcoin surged $663 to $10,120.


Producer prices rose last month but the markets extended its rally to open sharply higher with the Dow leaping 154 points to 25,047. Nasdaq climbed 57 points to 7200.


On the upside


Tripadvisor (Nasdaq: TRIP) reported higher fourth quarter revenue that topped analyst estimates and forecast full year earnings ahead of estimates.


Warren Buffet's Berkshire Hathaway acquired a $350 million stake in Teva Pharmaceutical (NYSE: TEVA).


Fourth quarter earnings surged for CenturyLink (NYSE: CTL).

 

On the downside 


NetApp (Nasdaq: NTAP) fell to a loss for the third quarter.


Treehouse Foods (NYSE: THS) widened losses for the fourth quarter and announced plans to close its Visalia facility.


Kinross Gold (NYSE: KGC) disappointed with a smaller than expected profit for the fourth quarter.


In the broad market, advancing issues outpaced decliners by a margin of more than 2 to 1 on the NYSE and by nearly 7 to 3 on Nasdaq. The broader S&P 500 gained 15 points to 2,713. Bitcoin surged $385 to $9,842.


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