The markets rebounded to close modestly higher with the Dow adding 11 points to 20,821. Nasdaq rose 9 points to 5,845.


On the upside


Applied Optoelectronics (Nasdaq: AAOI) reported sharply higher fourth quarter earnings as revenue soared.


Fourth quarter earnings for Universal Display (Nasdaq: OLED) climbed as revenue rose.


Bargain hunters lifted shares of Build-A-Bear Workshop (NYSE: BBW).


On the downside


Function(x) (Nasdaq: FNCX) priced its public offering of approximately 4.57 million common shares at the discounted price of $1.05 per share.


Ashford Hospitality Trust (NYSE: AHT) widened losses for the fourth quarter. 

 

Zoe's Kitchen (NYSE: ZOES) fell to a loss for the fourth quarter.


In the broad market, advancing issues outpaced decliners by a margin of nearly 10 to 9 on the NYSE while decliners edged out advancers by 10 to 9 on Nasdaq. The broader S&P 500 index added 3 points to 2,367. Bitcoin slipped $1 to $1,163.


J.C. Penney to close up to 140 stores

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The markets traded lower during the midday with the Dow losing 38 points to 20,771. Nasdaq slipped 9 points to 5,826.


After a disappointing holiday quarter, J.C. Penney announced cost cutting measures that are expected to save approximately $200 million annually. The struggling retailer will close between 130 to 140 underperforming stores and offer voluntary retirement packages to 6,000 employees. A supply chain facility in Buena Park, California will also be sold.


J.D. Power and LMC Automotive reported that new auto sales are projected to edge up 0.6% in February from last year. Sales directly to consumers that exclude fleet sales to businesses, government agencies and rental companies will rise by 0.4%. Increased incentives have boosted sales.


Startup Embark introduced its self-driving truck that has been in development for nearly a year. Nevada granted the company permission to test self-driving commercial trucks on its public highways. Embark plans to develop fully automated trucks that do not use any human drivers during long stretches of highway. Human drivers will enter the truck to drive on city streets.


In the broad market, declining issues outpaced advancers by a margin of 4 to 3 on the NYSE and by more than 5 to 3 on Nasdaq. The broader S&P 500 index slipped 3 points to 2,360. Bitcoin soared $28 to $1,186.


January new home sales rose less than expected to weigh the markets down to a lower open with the Dow falling 54 points to 20,756. Nasdaq dropped 21 points to 5,814.


On the upside


Cempra (Nasdaq: CEMP) reported upbeat results from a Phase 3 study of oral fusidic acid to treat patients with acute bacterial skin and skin structure infections.


RH (NYSE: RH) reported better than expected earnings for the fourth quarter.


The Food and Drug Administration approved IntelliPharmaCeutics International's (Nasdaq: IPCI) abbreviated new drug application for metformin hydrochloride extended release tablets in the 500 mg and 750 mg strengths.


On the downside


North American Offshore (NYSE: NAO) upsized its public offering to 40 million common shares priced at the discounted price of $1.25 per share.


Hi-Crush Partners (NYSE: HCLP) priced its public offering of approximately 20 million units at a discount. 

 

Acacia Communications (Nasdaq: ACIA) reported impressive fourth quarter earnings and revenue but the company forecast current quarter results that fell short of analyst expectations.


In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 3 on the NYSE and by more than 5 to 2 on Nasdaq. The broader S&P 500 index lost 7 points to 2,356. Bitcoin soared $25 to $1,182.


Mixed close despite Trump jobs pledge

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Despite rising crude oil prices and a pledge by President Donald Trump to bring back millions of jobs, the markets closed mixed with the Dow gaining 34 points to 20,810. Nasdaq lost 25 points to 5,835.


On the upside


Kemet (NYSE: KEM) will acquire Japanese passive electronic equipment maker NEC Tokin.


Cemtrex (Nasdaq: CETX) provided a robust business outlook.


Moody's downgraded Hornbook Offshore Services' (NYSE: HOS) Corporate Family Rating from Caa1 to Caa3 but the stock price climbed.


On the downside


Ocwen Financial (NYSE: OCN) reported a loss for the fourth quarter.


Fourth quarter earnings surged for Weibo (Nasdaq: WB) but the results fell short of expectations. 

 

QEP Resources (NYSE: QEP) widened losses significantly for the fourth quarter.


In the broad market, advancing issues outpaced decliners by a margin of more than 10 to 9 on the NYSE while decliners edged out advancers by more than 7 to 5 on Nasdaq. The broader S&P 500 index edged up a fraction to 2,363. Bitcoin soared $27 to $1,142.


More details about Amazon's new store

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The market traded mixed during the midday with the Dow gaining 58 points to 20,834. Nasdaq fell 25 points to 5,835.


Amazon is moving closer to opening its first drive-through grocery store with its recent application for a liquor license. The new store has been designed for efficiency with no shelves to display items. Customers place orders online then drive to the store during a 15-minute to two-hour pick-up window where a worker will deliver the groceries to the customer's car.


In anticipation of a blockbuster Snap initial public offering, the New York Stock Exchange will run a test of the messaging app's market debut this Saturday. Traders have been asked to submit sample orders to test the ability of the NYSE's software to handle the expected volume of transactions. The NYSE conducted trial runs of Twitter's IPO in 2013 and Alibaba's debut in 2014.


Norwegian Air Shuttle will expand the number of routes that it offers between the United States and Europe beginning in mid-June. Ticket prices will begin at $65 for one way flights to the United Kingdom and Ireland from smaller airports in the U.S. There will only be a very limited number of tickets offered at the extreme low price.


In the broad market, advancing issues outpaced decliners by a margin of nearly 10 to 9 on the NYSE while decliners edged out advancers by nearly 2 to 1 on Nasdaq. The broader S&P 500 index added a point to 2,364. Bitcoin soared $24 to $1,139.


Mixed open as jobless claims rise

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The market opened mixed with the Dow rising 17 points to 20,793 as first time applications for unemployment benefits rose. Nasdaq fell 27 points to 5,833.


On the upside


A judge ruled that Actives Laboratories' generic version of Zohydro ER infringed on patents held by Pernix Therapeutics (Nasdaq: PTX).


Square (NYSE: SQ) narrowed fourth quarter losses more than expected.


Over 1,000 customers in February paid for and completed training on Nova Lifestyle's (Nasdaq: NVFY) Nova-Mart.


On the downside


L Brands (NYSE: LB) forecast 2017 earnings that fell short of analyst expectations.


Arris International (Nasdaq: ARRS) will pay approximately $800 million in cash to acquire Ruckus Wireless and ICX Switch from Brocade Communication Systems. 

 

Ocean Rig (Nasdaq: ORIG) widened fourth quarter losses significantly as revenue plunged.


In the broad market, advancing issues outpaced decliners by a margin of more than 10 to 9 on the NYSE while decliners edged out advancers by more than 5 to 3 on Nasdaq. The broader S&P 500 index slipped 2 points to 2,360. Bitcoin soared $25 to $1,140.


Sales of existing homes climbed more than expected but the markets closed mixed with the Dow rising 32 points to 20,775 as an interest rate hike loomed. Nasdaq lost 5 points to 5,860.


On the upside


Lantheus Holdings (Nasdaq: LNTH) reported higher fourth quarter earnings as revenue rose.


Ternium (NYSE: TX) will buy CSA Siderurgica do Altantico from thyssenkrupp.


Depomed (Nasdaq: DEPO) reported higher fourth quarter revenue.


On the downside


Seeking Alpha alleged that Cemtrex (Nasdaq: CETX) deceived shareholders, paid stock promoters and engaged in fraud.


Profit taking weighed down shares of DryShips (Nasdaq: DRYS). 

 

Entellus Medical (Nasdaq: ENTL) widened losses for the fourth quarter.


The broader S&P 500 index slipped 2 points to 2,362. Bitcoin rose $5 to $1,111.


CSX cuts 1,000 jobs

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The markets traded mixed during the midday with the Dow rising 16 points to 20,759. Nasdaq lost 8 points to 5,857.


CSX will eliminate approximately 1,000 management positions at its headquarters in Jacksonville, Florida and in the field. Employees were notified by email about the "involuntary separation program." The railroad company will offer enhanced severance pay and pension benefits for laid off workers.


UPS tested a drone delivery system that is launched from a delivery van. The UPS driver will continue to make deliveries the traditional way but will also deploy an autonomous drone to deliver packages within a certain range of the van. The truck-launched drones will be tested on rural routes, which are the most expensive routes to serve.


Best Buy and GameStop will be hosting midnight launch events for the Nintendo Switch which debuts on March 3. Pre-orders for Nintendo's new console sold out on the first day that they were available but production has been increased to accommodate demand. A limited number of consoles will be available at retailers for their launch events.

 

The broader S&P 500 index slipped 3 points to 2,362. Bitcoin added $3 to $1,109.


Lower open as crude oil retreats

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Retreating crude oil prices weighed the markets down to a lower open with the Dow losing 19 points to 20,723. Nasdaq fell 14 points to 5,851.


On the upside


Microbes Medical (Nasdaq: MBOT) received a patent for a device that prevents shunt stenosis.


Garmin (Nasdaq: GRMN) reported higher fourth quarter earnings that topped analyst estimates.


Internap (Nasdaq: INAP) raised $43 million through a private placement.


On the downside


An independent data monitoring committee recommended that Argos Therapeutics (Nasdaq: ARGS) discontinue its Phase 3 ADAPT clinical trial of rocapuldencel-T for futility.


Profit taking weighed down shares of Eyegate Pharmaceuticals (Nasdaq: EYEG). 

 

Parker Drilling (NYSE: PKD) priced its public offering of 12 million common shares at the discounted price of $2.10 per share.


The broader S&P 500 index slipped 4 points to 2,360. Bitcoin rose $4 to $1,110.


Upbeat earnings from major retailers Wal-Mart and Home Depot boosted the markets to a higher close with the Dow soaring 118 points to 20,743. Nasdaq climbed 27 points to 5,865.


On the upside


Tronox (NYSE: TROX) reversed year ago losses to post a profit for the fourth quarter and announced plans to acquire the TiO(2) business of Cristal.


Popeyes Louisiana Kitchen (Nasdaq: PLKI) will be acquired by Burger King owner Restaurant Brands International for approximately $1.8 billion in cash.


Exact Sciences (Nasdaq: EXAS) narrowed fourth quarter losses more than expected as revenue more than doubled.


On the downside


Rentech (Nasdaq: RTK) idled its Wawa facility and announced plans to explore strategic alternatives.


Global Eagle Entertainment (Nasdaq: ENT) appointed Jeff Leddy to the position of chief executive officer to replace Dave Davis who resigned. 

 

The Food and Drug Administration issued a Complete Response Letter to Amphastar Pharmaceuticals (Nasdaq: AMPH) for its New Drug Application for Naloxone Hydrochloride Nasal Spray for the emergency treatment of opioid overdose.


The broader S&P 500 index climbed 14 points to 2,365. Bitcoin soared $46 to $1,097.


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