Higher close on M&A

|

The markets closed higher with the Dow gaining 53 points to 18,570 on Verizon's potential acquisition of Yahoo. Nasdaq climbed 26 points to 5,100. 


On the upside


Shares of Technical Communications (Nasdaq: TCCO) surged on no news.


Cantor Fitzgerald's upbeat assessment of Cara Therapeutics' (Nasdaq: CARA) pain treatment CR845 IV lifted shares of the biopharmaceutical.


Shares of Top Ships (Nasdaq: TOPS) climbed for the fifth day.


On the downside


Basic Energy Services (NYSE: BAS) reported a greater than expected loss for the second quarter.


Abaxis (Nasdaq: ABAX) reported lower first quarter earnings that fell short of expectations.


Second quarter earnings for Athenahealth (Nasdaq: ATHN) fell short of expectations.


In the broad market, advancing issues outpaced decliners by a margin of 2 to 1 on the NYSE and by more than 5 to 3 on Nasdaq. The broader S&P 500 climbed 9 points to 2,175. Bitcoin tumbled $8 to $654.

Tech deals make headlines

|

The markets traded higher during the midday with the Dow gaining 30 points to 18,548. Nasdaq climbed 25 points to 5,099. 


Yahoo began its search for a buyer four months ago and is close to finalizing a deal. A handful of offers have been made but Yahoo is reportedly in discussions with Verizon for a deal approaching $5 billion. Yahoo is expected to announce a deal by the end of the month.


Online retailer Amazon has partnered with Wells Fargo to offer student loans to Amazon Prime Student members. The loans will provide a 0.5% discount on private student loans. Amazon clarified that it is not a lender and is neither underwriting nor originating any loans.


PayPal and Visa ended their ongoing rivalry with a deal to work together. PayPal's mobile app will now have access to Visa's payment equipment in brick-and-mortar stores. PayPal will streamline the process for consumers who want to use their Visa credit or debit cards when paying with PayPal.  


In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 3 on the NYSE and by 2 to 1 on Nasdaq. The broader S&P 500 gained 7 points to 2,172. Bitcoin dropped $8 to $654.

The markets opened mixed with the Dow slipping 4 points to 18,512 while Nasdaq rose 11 points to 5,085 as earnings disappoint. 


On the upside


Shares of Kingtone Wirelessinfo Solutions (Nasdaq: KONE) continued soaring.


Puma Biotechnology (Nasdaq: PBYI) submitted follow-up data to the Food and Drug Administration for its marketing application for the breast cancer treatment neratinib.


Swift Transportation (NYSE: SWFT) reported better than expected earnings and revenue for the second quarter.


On the downside


Skechers (NYSE: SKX) disappointed with lower second quarter earnings that fell short of expectations.


Olin (Nasdaq: OLN) cut its second quarter and full year forecast prompting a downgrade.


Skyworks Solutions (Nasdaq: SWKS) reported lower third quarter earnings and revenue.


In the broad market, declining issues outpaced advancers by a margin of nearly 10 to 9 on both the NYSE and on Nasdaq. The broader S&P 500 added 2 points to 2,167. Bitcoin tumbled $11 to $651.

First time applications for unemployment benefits unexpectedly dropped last week but the markets closed lower with the Dow dropping 77 points to 18,517. Nasdaq lost 16 points to 5,073. 


On the upside


Shares of Kingtone Wirelessinfo Solutions (Nasdaq: KONE) more than quadrupled after an article in The Economist said that China could lead the development and commercialization of products for the industrial internet of things.


Top Ships (Nasdaq: TOPS) stock soared for the fourth day.


Imax (NYSE: IMAX) reported better than expected earnings for the second quarter.


On the downside


Essendant (Nasdaq: ESND) disappointed with lower second quarter earnings that fell short of expectations.


Investors locked in profits on Ocean Power Technologies (Nasdaq: OPTT).


Retreating crude oil prices weighed down shares of Stone Energy (NYSE: SGY).


In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 5 on the NYSE and by 5 to 3 on Nasdaq. The broader S&P 500 fell 7 points to 2,165. Bitcoin added $2 to $662.

Disappointing earnings weighed the markets down during the midday with the Dow plunging 103 points to 18,491. Nasdaq fell 21 points to 5,068. 


Tesla chief executive Elon Musk presented a vision of how the electric car maker will expand its business. Musk sees Tesla commercial trucks and public buses in the near future. The announcement was made at a challenging time for company. The autopilot feature in the Tesla Model S has been blamed for a fatal accident and the company has delivered fewer cars than expected. 


Starbucks has been at the forefront of corporate responsibility. The company uses ethically sourced coffee beans, offers competitive wages to its employees and introduced its College Achievement Plan in June 2014. But, the company serves coffee in non-recyclable paper cups. Approximately 4 billion cups end up in landfills every year. That is about to change. The world's largest coffee chain began testing recyclable cups at its locations in the UK yesterday.


The Justice Department along with attorney generals from numerous states have filed two lawsuits challenging Anthem's proposed acquisition of Cigna and Aetna's proposed acquisition of Humana. The suits allege that the two consolidation deals would reduce price competition and hurt consumers. Aetna and Humana have vowed to vigorously fight the suit. Cigna said that it would evaluate its options while Anthem appeared open to a settlement.


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 fell 10 points to 2,162. Bitcoin added $1 to $661.

The markets opened mixed with the Dow losing 33 points to 18,561 as crude oil prices slipped. Nasdaq added 2 points to 5,092. 


On the upside


Galencia will pay a premium of approximately $1.53 billion to acquire Relypsa (Nasdaq: RLYP).


Joy Global (NYSE: JOY) will be acquired by Komatsu in an all-cash deal valued at approximately $3.7 billion.


eBay (Nasdaq: EBAY) reported greater than expected earnings and revenue for the second quarter prompting the company to lift its full year forecast.


On the downside


Second quarter earnings and revenue for Southwest Airlines (NYSE: LUV) fell short of expectations.


Investors locked in profits on OpGen (Nasdaq: OPGN).


Interpublic Group of Companies (NYSE: IPG) reported higher second quarter earnings and revenue but revenue missed estimates.


In the broad market, advancing issues outpaced decliners by a margin of more than 9 to 7 on the NYSE and by nearly 5 to 4 on Nasdaq. The broader S&P 500 slipped a point to 2,171. Bitcoin edged up to $660.

Crude oil prices rebounded to lift the markets to a modestly higher close with the Dow gaining 36 points to 18,595. Nasdaq soared 53 points to 5,089. 


On the upside


OpGen (Nasdaq: OPGN) is seeking regulatory approval of its QuickFish diagnostic test with a digital imager.


Allied World Assurance (NYSE: AWH) reported a greater than expected profit for the second quarter.


Shares of Top Ships (Nasdaq: TOPS) climbed for the third day.


On the downside


Evoke Pharma (Nasdaq: EVOK) tumbled for the third day.


Exponent (Nasdaq: EXPO) reported second quarter earnings that missed estimates prompting the company to lower its full year forecast.


Retreating silver prices weighed down shares of Endeavour Silver (NYSE: EXK) and First Majestic Silver (NYSE: AG).


In the broad market, declining issues outpaced advancers by a margin of more than 2 to 1 on both the NYSE and on Nasdaq. The broader S&P 500 climbed 9 points to 2,173. Bitcoin fell $4 to $661.

The markets advanced during the midday with the Dow climbing 52 points to 18,611. Nasdaq soared 57 points to 5,094. 


The much anticipated launch in Japan today of global phenomenon Pokemon Go was delayed due to concerns that servers would be overloaded. The game is now set to launch on Thursday. Shares of Nintendo fell.


Needham & Co. analyst Laura Martin expects Apple to benefit from the Pokemon Go craze. Since launching two weeks ago, the mobile game has generated more than $35 million in net revenue. Apple receives a percentage of sales from in-app purchases.


Many local businesses have begun offering discounts to Pokemon Go players. Some restaurants and bars have given players 10% discounts on their bills. Other retailers have purchased lures to generate more Pokemon at their site in order to entice more players visit their stores.


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 10 points to 2,174. Bitcoin lost $2 to $663.

Higher open on upbeat earnings

|

Strong earnings lifted the markets to a higher open with the Dow gaining 41 points to 18,600. Nasdaq climbed 47 points to 5,084. 


On the upside


The Food and Drug Administration approved the opioid-induced constipation treatment developed by Progenics Pharmaceuticals (Nasdaq: PGNX) and Valeant Pharmaceuticals (NYSE: VRX).


Shares of Ocean Power Technologies (Nasdaq: OPTT) surged again.


SunEdison will sell its interest in TerraForm Global (Nasdaq: GLBL).


On the downside


Zafgen (Nasdaq: ZFGN) will discontinue the development of its obesity treatment beloranib and cut its workforce by 34%.


Falling gold and silver prices weighed down shares of Coeur Mining (NYSE: CDE) and McEwen Mining (NYSE: MUX).


Shares of Ryerson Holding (NYSE: RYI) extended its losses.


In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 4 on the NYSE while advancers edged out decliners by nearly 5 to 4 on Nasdaq. The broader S&P 500 gained 5 points to 2,168. Bitcoin lost $2 to $663.

Mixed close even as wages rise

|

The markets closed mixed with the Dow gaining 25 points to 18,559 even as median weekly earnings climbed 2.9% in the second quarter. Nasdaq lost 19 points to 5,036. 


On the upside


Towerstream (Nasdaq: TWER) received an extension to meet the listing requirements to be on Nasdaq.


Ocean Power Technologies (Nasdaq: OPTT) reported a smaller loss for 2016.


Shares of Sophiris Bio (Nasdaq: SPHS) climbed for the third day.


On the downside


SciClone Pharmaceuticals (Nasdaq: SCLN) ended discussions with potential suitors and will remain an independent publicly traded company.


Ryerson (NYSE: RYI) will offer 5 million common shares through a public offering.


Shares of Evoke Pharma (Nasdaq: EVOK) extended its losses.


In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 5 on the NYSE and by more than 5 to 3 on Nasdaq. The broader S&P 500 lost 3 points to 2,163. Bitcoin held steady at $665.

Monthly Archives

Powered by Movable Type 5.12