September 2013 Archives

Stocks Plummet As Shutdown Imminent

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Stocks plummeted to a sharply lower close with the Dow sinking 128 points to 15,129 as a government shutdown appeared imminent. Nasdaq lost 10 points to 3771.

On the upside

China's announcement that it would offer tax breaks to solar products makers lifted shares of China Sunergy (Nasdaq: CSUN) and Trina Solar (NYSE: TSL).

TheStreet listed ARCA biopharma (Nasdaq: ABIO) as one of five stocks that will breakout.

Shares of Real Goods Solar (Nasdaq: RSOL) continued rising after company modified its loan agreements last week.


On the downside


Shares of mobile advertising solutions provider Millennial Media (Nasdaq: MM) fell after Facebook (Nasdaq: FB) began testing mobile ads outside of Facebook.

Investors locked in profits on Eagle Bulk Shipping (Nasdaq: EGLE).

Profit taking weighed down shares of AVG Technologies (NYSE: AVG).

In the broad market, declining issues outpaced advancers by a margin of nearly 3 to 2 on the NYSE and by nearly 5 to 4 on Nasdaq. The broader S&P 500 dropped 10 points to 1681.

Shutdown Inevitable

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With little chance that the government will pass a spending bill before tonight's midnight deadline, the markets tumbled during the midday with the Dow plummeting 100 points to 15,158. Nasdaq slipped 6 points to 3775.

On the upside

Shares of LDK Solar (NYSE: LDK) and Suntech Power Holdings (NYSE: STP) climbed after China announced tax breaks for solar power products companies.

China Ming Yang Wind Power (NYSE: MY) won a bid to build 29 units of 3MW super compact drive wind turbine generators off shore Zhuhai Guishan Island in China.

A Seeking Alpha contributor expects Rockwell Medical's (Nasdaq: RMTI) stock price to soar over $19.


On the downside


ArQule (Nasdaq: ARQL) presented mixed results to the European Cancer Congress for its tivantinib in treating lung cancer patients.

A Seeking Alpha contributor locked in profits on Geron (Nasdaq: GERN).

The market share of Apple's (Nasdaq: AAPL) iPhone fell before the recent launch of the iPhone 5s and 5c.

In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 3 on the NYSE and by more than 7 to 5 on Nasdaq. The broader S&P 500 lost 8 points to 1683.

Government shutdown fears sent the markets tumbling to a sharply lower open with the Dow plunging 102 points to 15,156. Nasdaq dropped 17 points to 3764.

On the upside

Vista Equity Partners will take Active Network (NYSE: ACTV) private for a premium of approximately $904.8 million.

Brookfield Property Partners (NYSE: BPY) will make a tender offer for Brookfield Office Properties (NYSE: BPO) of $19.34 per share in cash.

A Seeking Alpha contributor expects sales of Galena Biopharma's (Nasdaq: GALE) cancer pain treatment Abstral will exceed expectations.


On the downside


The Food and Drug Administration maintained a clinical hold on Achillion Pharmaceuticals' (Nasdaq: ACHN) hepatitis C treatment sovaprevir.

Credit Suisse lowered its price target on Arena Pharmaceuticals (Nasdaq: ARNA) from $5 to $4.

Profit taking weighed down shares of Catalyst Pharmaceutical Partners (Nasdaq: CPRX).  

In the broad market, declining issues outpaced advancers by a margin of nearly 6 to 1 on the NYSE and by nearly 4 to 1 on Nasdaq. The broader S&P 500 fell 9 points to 1682.

Lower Close Over Fears Of Shutdown

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Fears of a government shutdown sent the markets down to a lower close with the Dow falling 70 points to 15,258. Nasdaq lost 5 points to 3781.

On the upside

Real Goods Solar (Nasdaq: RSOL) modified its loan agreement with Silicon Valley Bank.

Ziopharm Oncology (Nasdaq: ZIOP) presented at BioCentury's NewsMakers in the Biotech Industry Conference.

Shares of Enzymotec (Nasdaq: ENZY) surged on its first trading day.


On the downside


Enduro Royalty Trust (NYSE: NDRO) priced its public offering of 11.2 million trust units at $13.85 per unit.

United (NYSE: UAL) reported that passenger revenue per available seat mile increased less than expected in the third quarter prompting a downgrade.

Deutsche Bank downgraded International Game Technology (NYSE: IGT) from a Buy rating to a Hold rating.  

In the broad market, declining issues outpaced advancers by a margin of 2 to 1 on the NYSE and by nearly 5 to 3 on Nasdaq. The broader S&P 500 lost 6 points to 1691.

Debt Limit Concerns Sink Stocks

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Federal debt limit concerns sent the markets tumbling during the midday with the Dow dropping 75 points to 15,252. Nasdaq slipped 3 points to 3783.

On the upside

Halozyme Therapeutics (Nasdaq: HALO) received a $10 million milestone payment from Roche for launching the breast cancer treatment Herceptin SC in Europe.

Shares of RingCentral (NYSE: RNG) leaped in its market debut.

Magnum Hunter (NYSE: MHR) chairman and chief executive Gary C. Evans will present at the IPAA Oil & Gas Investment Symposium on Monday, September 30, 2013.


On the downside


Shares of Violin Memory (NYSE: VMEM) tumbled on its first trading day.

Nektar Therapeutics (Nasdaq: NKTR) reported disappointing results from a Phase 2 study of its pain treatment NKTR-181.

Insurance Insider wrote that Tower Group (Nasdaq: TWGP) hired several banks to assist the company in solving its reserving crisis.  

In the broad market, declining issues outpaced advancers by a margin of more than 2 to 1 on the NYSE and by more than 9 to 7 on Nasdaq. The broader S&P 500 lost 7 points to 1691.

Lower Open As Consumer Sentiment Drops

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A sharper than expected drop in September consumer sentiment weighed the markets down to a lower open with the Dow tumbling 99 points to 15,228. Nasdaq fell 16 points to 3771.

On the upside

Nike (NYSE: NKE) reported higher first quarter earnings and revenue that surpassed analyst expectations.

Second quarter earnings and revenue climbed for Finish Line (Nasdaq: FINL) to beat analyst estimates.

Deutsche Bank upgraded Trina Solar (NYSE: TSL) and Yingli Green Energy (NYSE: YGE) from Hold ratings to Buy ratings.


On the downside


J.C. Penney (NYSE: JCP) will offer 84 million common shares at the discounted price of $9.65 per share.

Zoltek (Nasdaq: ZOLT) will be acquired by Toray Industries for $16.75 per share.

Rite Aid (NYSE: RAD) will exchange convertible preferred stock for common shares.  

In the broad market, declining issues outpaced advancers by a margin of nearly 3 to 1 on the NYSE and by 5 to 2 on Nasdaq. The broader S&P 500 dropped 10 points to 1688.

Higher Close As Jobless Claims Drop

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Falling unemployment claims lifted the markets to a higher close with the Dow gaining 55 points to 15,328. Nasdaq climbed 26 points to 3787.

On the upside

A Seeking Alpha contributor wrote that E-Commerce China Dangdang (NYSE: DANG) had great potential.

Bargain hunters snapped up shares of Magnum Hunter (NYSE: MHR).

Shares of Opexa Therapeutics (Nasdaq: OPXA) continued rising after the biopharmaceutical converted its convertible secured promissory notes into common stock.


On the downside


Shares of Avis Budget (Nasdaq: CAR) tumbled after rival Hertz (NYSE: HTZ) cut its forecast.

Despite Corporate Resource Services' (Nasdaq: CRRS) plans to expand its Cloud Based Offerings, the stock price fell in response to a Seeking Alpha article that said the stock was overvalued and a good short candidate.

Winthrop Realty Trust (NYSE: FUR) priced its public offering of 2.75 million common shares at the discounted price of $11.45 per share.  

In the broad market, advancing issues outpaced decliners by a margin of 9 to 7 on the NYSE and by nearly 5 to 4 on Nasdaq. The broader S&P 500 rose 3 points to 1696.

The markets retreated from early morning highs but continued trading in positive territory with the Dow rising 36 points to 15,310 as investors monitored federal funding developments in Washington. Nasdaq gained 22 points to 3783.

On the upside

Shares of Premier (Nasdaq: PINC) surged in its market debut.

Covisint (Nasdaq: COVS) stock soared on its first trading day.

J.C. Penney (NYSE: JCP) chief executive Myron Ullman reassured investors that there was no need for the department store operator to raise capital this year.


On the downside


Caesars Entertainment (Nasdaq: CZR) will offer 10 million shares of common stock.

Venaxis (Nasdaq: APPY) reported positive results from the final futility analysis for its APPY1 Test and will proceed with a clinical trial. Investors who anticipated the upbeat news locked in profits.

Eli Lilly (NYSE: LLY) reported that its ramucirumab failed a Phase III metatastic breast cancer study.  

In the broad market, advancing issues outpaced decliners by a margin of 9 to 7 on the NYSE and by nearly 5 to 4 on Nasdaq. The broader S&P 500 rose 3 points to 1696.

Jobless Claims Drop, Markets Soar

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First time applications for unemployment benefits dropped to its lowest level in nearly six years to send the markets soaring with the Dow leaping 101 points to 15,375. Nasdaq surged 30 points to 3791.

On the upside

American Industrial Partners will acquire Flow International (Nasdaq: FLOW) in a deal valued at ore than $200 million.

Forbes noted that twelve Walter Energy (NYSE: WLT) directors and officers have acquired shares in the company over the past six months.

KiOR (Nasdaq: KIOR) will double the production capacity at its cellulosic fuels facility in Columbus, Mississippi.


On the downside


Hertz Global Holdings (NYSE: HTZ) blamed weak rental volumes at U. S airports for lowering its full year guidance.

Westport Innovations (Nasdaq: WPRT) priced its public offering of 6 million common shares at the discounted price of $25.39 per share.

Jabil Circuit (NYSE: JBL) reported higher fourth quarter earnings that topped analyst estimates but the company forecast current quarter earnings below expectations.  

In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 2 on both the NYSE and on Nasdaq. The broader S&P 500 gained 9 points to 1701.

Funding Fears Weigh Down Stocks

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Fears that the federal government's funding will run dry on October 17 weighed the markets down to a lower close with the Dow falling 61 points to 15,273. Nasdaq slipped 7 points to 3761.

On the upside

Trade-Ideas designated Uni-Pixel (Nasdaq: UNXL) as a "Barbarian at the Gate" stock.

Shares of JinkoSolar (NYSE: JKS), ReneSola (NYSE: SOL), Trina Solar (NYSE: TSL) and Yingli Green Energy (NYSE: YGE) all rose after the Solar Energy Industries Association offered a proposal to end the solar panel trade war between China and the US.

Silver Spring Networks (NYSE: SSNI) expanded its networking platform project in Portugal.


On the downside


Bloomberg reported that Clovis Oncology (Nasdaq: CLVS) was unable to find a buyer.

Landec (Nasdaq: LNDC) reported higher first quarter earnings but the results fell short of expectations.

Chatham Lodging Trust (NYSE: CLDT) priced its public offering of 3.25 million common shares at the discounted price of $18.35 per share.  

In the broad market, declining issues barely edged out advancers by a slim margin on the NYSE and by 10 to 9 on Nasdaq. The broader S&P 500 slipped 4 points to 1692.

Homes Sales Soar, Markets Mixed

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The markets traded mixed during the midday with the Dow slipping 4 points to 15,330 as new home sales soared 7.9% last month. Nasdaq rose 10 points to 3778.

On the upside

Pacific Biosciences of California (Nasdaq: PACB) will develop DNA sequencing systems and diagnostic products for Roche.

Shares of Foundation Medicine (Nasdaq: FMI) surged in its market debut.

Ophthotech (Nasdaq: OPHT) stock soared on its first trading day.


On the downside


Copart (Nasdaq: CPRT) disappointed with lower fourth quarter earnings that fell short of analyst expectations.

Baxter International (NYSE: BAX) recalled two lots of Dual Luer Lock Caps.

Stifel Nicolaus downgraded TIM Participacoes (NYSE: TSU) from a Buy rating to a Hold rating.  

In the broad market, advancing issues outpaced decliners by a margin of 3 to 2 on the NYSE and by more than 5 to 3 on Nasdaq. The broader S&P 500 added 2 points to 1699.

News that the borrowing capacity of the federal government will be exhausted on October 17 weighed the markets down to a lower open with the Dow losing 22 points to 15,312. Nasdaq lost 5 points to 3762.

On the upside

Stryker (NYSE: SYK) will pay a premium  of approximately $1.65 billion in cash to acquire Mako Surgical (Nasdaq: MAKO).

Merck Serono will continue developing the cancer treatment tecemotide, which is licensed from Oncotheyreon (Nasdaq: ONTY).

Ascena Retail Group (Nasdaq: ASNA) impressed with sharply higher fourth quarter earnings and revenue that surpassed analyst expectations.


On the downside


Geo Investing noted that the National Business Daily newspaper in China agreed with its findings that L & L Energy (NYSE: LLEN) did not own a number of mines that it claims to own.

Motley Fool wrote that J.C. Penney (NYSE: JCP) was unlikely to survive.

Morgan Stanley downgraded Carnival (NYSE: CCL) from an Equal Weight rating to an Underweight rating.  

In the broad market, advancing issues outpaced decliners by a margin of nearly 10 to 9 on both the NYSE and on Nasdaq. The broader S&P 500 slipped 2 points to 1694.

Lower Close Over Possible Shutdown

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Renewed concerns of a government shutdown sent the markets down to a lower close with the Dow falling 66 points to 15,334. Nasdaq added 2 points to 3768.

On the upside

L & L Energy (Nasdaq: LLEN) produced documents to refute allegations by GeoInvesting.

Office Depot (NYSE: ODP) introduced the new anti bullying program "Be the Difference. Speak Up Against Bullying!" targeting middle school students through its Office Depot Foundation.

Reuters reported that TIM Participacoes (NYSE: TSU) may have to be sold.


On the downside


A Seeking Alpha contributor wrote that Nuverra Environmental Solutions (NYSE: NES) was at risk to default.

J. P. Morgan downgraded Prosena Holding (Nasdaq: RNA) from an Overweight rating to a Neutral rating.

A Seeking Alpha contributor wrote that the strong well results from Goodrich Petroleum's (NYSE: GDP) Tuscaloosa Marine Shale will payoff in the long run.  

In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 4 on both the NYSE and on Nasdaq. The broader S&P 500 slipped 4 points to 1697.

Markets Turn Positive At Midday

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The markets turned positive during the midday with the Dow rising 16 points to 15,417 as home prices rose. Nasdaq gained 19 points to 3784.

On the upside

Kandi Technologies Group (Nasdaq: KNDI) continued rising after completing the electric vehicle asset acquisition from Zhejiang New Energy Vehicle System.

A class action lawsuit against GenVec (Nasdaq: GNVC) was dismissed.

KB Home (NYSE: KBH) reported sharply higher third quarter earnings that surpassed analyst expectations.


On the downside


Two law firms filed suit against BioScrip (Nasdaq: BIOS) for possible securities law violations.

Arbor Realty Trust (NYSE: ABR) priced its public offering of 6 million common shares at the discounted price of $7.08 per share.

Paragon Shipping (Nasdaq: PRGN) increased its public offering to more than 5.2 million common shares priced at a discount of $5.75 per share.  

In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 3 on the NYSE and by more than 2 to 1 on Nasdaq. The broader S&P 500 added 3 points to 1705.

Lower Open As Consumer Confidence Drops

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A drop in September consumer confidence weighed the markets down to a lower open with the Dow losing 35 points to 15,365. Nasdaq held steady at 3765.

On the upside

Applied Materials (Nasdaq: AMAT) will merge with Tokyo Electron in an all stock deal.

A Seeking Alpha contributor expects Acura Pharmaceuticals' (Nasdaq: ACUR) abuse resistant drugs to expand in market share.

Private equity firm Vista Equity Partners acquire Greenway Medical Technologies (NYSE: GWAY) in an all cash deal valued at approximately $644 million.


On the downside


Cypress Semiconductor (Nasdaq: CY) blamed weakness in its Asian mobile handset revenue for cutting its third quarter revenue and earnings outlook.

Carnival (NYSE: CCL) disappointed with lower third quarter earnings and warned of lower full year revenue.

Red Hat (NYSE: RHT) reported higher second quarter earnings and revenue billings growth disappointed and the company forecast current quarter results below estimates.  

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 slipped 3 points to 1698.

Concerns that the federal government could shutdown weighed the markets down to a lower close with the Dow losing 49 points to 15,401 over concerns of a government shutdown. Nasdaq slipped 9 points to 3765.

On the upside

Leerink Swann lifted its price target on Celldex Therapeutics (Nasdaq: CLDX) from $28 to $45 per share.

Cardiome Pharma (Nasdaq: CRME) reported upbeat study results for its vernakalant intravenous in patients with atrial fibrillation.

Alnylam Pharmaceuticals (Nasdaq: ALNY) reported positive results from a Phase I clinical trial of its ALN-TTRsc for treating TTR-mediated amyloidosis.


On the downside


A number of law firms have launched investigations into L & L Energy (Nasdaq: LLEN) for securities law violations.

AAA Research issued a report on InvenSense (NYSE: INVN).

DividendChannel wrote that Cooper Tire & Rubber (NYSE: CTB) was oversold.  

In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 5 on the NYSE and by more than 9 to 7 on Nasdaq. The broader S&P 500 fell 8 points to 1701.

The markets extended its losses during the midday with the Dow falling 42 points to 15,408 over concerns of a government shutdown. Nasdaq lost 11 points to 3763.

On the upside

Trade-Ideas selected Omeros (Nasdaq: OMER) as a "Barbarian at the Gate" stock.

Sarepta Therapeutics (Nasdaq: SRPT) was selected as a "Barbarian at the Gate" stock by Trade-Ideas.

Smartphone audio chipmaker Cirrus Logic (Nasdaq: CRUS) climbed on strong iPhone sales.


On the downside


Profit taking weighed down shares of Cyclacel Pharmaceuticals (Nasdaq: CYCC).

Investors locked in profits on Yelp (NYSE: YELP).

J.C. Penney (NYSE: JCP) retained the services of Goldman Sachs to advise the department store retailer in its efforts to raise additional capital.  

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 lost 7 points to 1701.

Fears of a possible government shutdown weighed the markets down to a lower open with the Dow losing 34 points to 15,416. Nasdaq slipped 7 points to 3766.

On the upside

Apple (Nasdaq: AAPL) reported that 9 million iPhone 5C and iPhone 5S devices were sold over the weekend.

RF Micro Devices (Nasdaq: RFMD) completed the expansion of a manufacturing facility in China.

Isis Pharmaceuticals (Nasdaq: ISIS) reported upbeat results from a Phase 2 study of its ISIS-APOCIII Rx in treating patients with familial chylomicronemia syndrome.


On the downside


Groupon (Nasdaq: GRPN) failed in its efforts to dismiss a lawsuit alleging securities fraud related to the coupon company's initial public offering.

Shares of Pandora Media (NYSE: P) fell after Apple (Nasdaq: AAPL) reported that more than 11 million unique listeners have used iTunes Radio since its launch last week.

Barclays downgraded Sealed Air (NYSE: SEE) from an Overweight rating to an Equal Weight rating.  

In the broad market, declining issues outpaced advancers by a margin of more than 7 to 5 on the NYSE and by more than 5 to 3 on Nasdaq. The broader S&P 500 lost 7 points to 1702.

Tapering Possibility Sinks Stocks

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The possibility of tapering next month sent the markets tumbling to sharply lower close with the Dow collapsing 185 points to 15,451. Nasdaq fell 14 points to 3774.

On the upside

Shares of Rocket Fuel (Nasdaq: FUEL) surged in its market debut.

Shutterstock (Nasdaq: SSTK) priced its follow-on offering of 4.6 million common shares at $60 per share.

Textura (NYSE: TXTR) priced its follow-on public offering of more than 4.58 million common shares at $38 per share.


On the downside


BlackBerry (Nasdaq: BBRY) will eliminate 4,500 jobs and warned that second quarter losses would be close to $1 billion.

Falling gold prices weighed down shares of Eldorado Gold (NYSE: EGO).

Walter Energy (NYSE: WLT) priced its private offering of $450 million in senior secured notes.  

In the broad market, declining issues outpaced advancers by a margin of more than 5 to 2 on the NYSE and by more than 10 to 9 on Nasdaq. The broader S&P 500 dropped 12 points to 1709.

Tapering Comment Sinks Stocks

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Comments by a Federal Reserve official that tapering could begin in October sent the markets tumbling during the midday with the Dow plunging 100 points to 15,536. Nasdaq slipped 6 points to 3783.

On the upside

Shares of Sarepta (Nasdaq: SRPT) soared after a competing Duchenne Muscular Dystrophy treatment failed a study.

The stock price of FireEye (Nasdaq: FEYE) nearly doubled in its market debut.

Chardan Capital Markets analyst Jay Srivatsa lifted his price target on Himax Technologies (Nasdaq: HIMX).


On the downside


Profit taking sank shares of Frontline (NYSE: FRO).

Goldman Sachs initiated coverage of IAMGOLD (NYSE: IAG) with a Sell rating.

Motley Fool wrote that Zillow (NYSE: Z) was a bubble stock that would soon burst.  

In the broad market, declining issues outpaced advancers by a margin of more than 2 to 1 on the NYSE while advancers barely edged out decliners by a slim margin on Nasdaq. The broader S&P 500 fell 8 points to 1713.

The markets opened mixed with the Dow losing 30 points to 15,606 while Nasdaq added 4 points to 3793 as investors continued to mull over the Federal Reserve's decision to delay tapering.

On the upside

JinkoSolar (NYSE: JKS) priced its follow-on public offering of 3.8 million American Depositary Shares at $16.25 per ADS.

Cyclacel Pharmaceuticals (Nasdaq: CYCC) reported that its sapacitabine showed promise in treating ovarian cancer.

BASF will pay a premium of approximately $51.2 million to acquire Verenium (Nasdaq: VRNM).


On the downside


Prosena (Nasdaq: RNA) and GlaxoSmithKline (NYSE: GSK) reported disappointing results from a Phase III clinical trial of its Duchenne Muscular Dystrophy treatment drisapersen.

AK Steel (NYSE: AKS) blamed an outage for forecasting a greater than expected loss for the third quarter.

Baltic Trading (NYSE: BALT) priced its public offering of 12 million common shares at the discounted price of $4.60 per share.  

In the broad market, declining issues outpaced advancers by a margin of 5 to 3 on the NYSE and by more than 10 to 9 on Nasdaq. The broader S&P 500 slipped 2 points to 1720.

Mixed Close Over Tapering Delay

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The markets closed mixed with the Dow losing 40 points to 15,636 over the Federal Reserve's decision to delay tapering its stimulus measures. Nasdaq added 5 points to 3789.

On the upside

Rising shipping rates lifted shares of Eagle Bulk Shipping (Nasdaq: EGLE) and Genco Shipping & Trading (NYSE: GNK).

Pandora Media (NYSE: P) increased its stock offering from 10 million shares to 13 million shares and raised its offering price to $25 per share.

Isis Pharmaceuticals (Nasdaq: ISIS) reported upbeat preliminary results from a Phase I study of its spinal muscular atrophy treatment ISIS-SMN Rx.


On the downside


A Seeking Alpha contributor wrote that Fleetmatics Group (NYSE: FLTX) was overvalued and questioned the accuracy of its financial statements.

Investors locked in profits on Questcor Pharmaceuticals (Nasdaq: QCOR).

Profit taking weighed down shares of Gold Fields (NYSE: GFI) and Seabridge Gold (NYSE: SA).  

In the broad market, declining issues outpaced advancers by a margin of more than 7 to 5 on the NYSE and by nearly 5 to 4 on Nasdaq. The broader S&P 500 slipped 3 points to 1722.

Uncertainty Weighs Down Markets

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Uncertainty about the Federal Reserve's decision to delay tapering weighed the markets down during the midday with the Dow losing 34 points to 15,642. Nasdaq edged up a point to 3785.

On the upside

Shares of Acceleron Pharma (Nasdaq: XLRN) soared on its first trading day.

China announced new energy vehicle subsidies for 2013-2015 which sent shares of electric vehicle maker Kandi Technologies (Nasdaq: KNDI) soaring.

Stifel Nicolaus analyst Jordan Rohan upgraded Groupon (Nasdaq: GRPN) from a Hold rating to a Buy rating.


On the downside


BPZ Resources (NYSE: BPZ) priced its offering of convertible senior notes.

Profit taking sank shares of Harmony Gold (NYSE: HMY).

Morgan Stanley downgraded Popular (Nasdaq: BPOP) from an Equal Weight rating to an Underweight rating.  

In the broad market, declining issues outpaced advancers by a margin of more than 7 to 5 on both the NYSE and on Nasdaq. The broader S&P 500 slipped 3 points to 1722.

Mixed Open Over Fed Decision

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The opened mixed with the Dow slipping 5 points to 15,671 while Nasdaq added 5 points to 3789 over renewed uncertainty about the implementation of the Fed's tapering.

On the upside

Rite Aid (NYSE: RAD) reversed year ago losses to post a profit for the second quarter and lifted its full year earnings outlook.

Agilent Technologies (NYSE: A) will spinoff its electronic measurement business into a separate publicly traded company.

UBS upgraded GT Advanced (Nasdaq: GTAT) from a Neutral rating to a Buy rating.


On the downside


Pier 1 Imports (NYSE: PIR) disappointed with lower second quarter earnings that fell short of analyst expectations prompting the company to trim its full year earnings forecast.

Pacific Coast Oil Trust (NYSE: ROYT) priced its public offering of 13.5 million trust units at the discounted price of $17.10 per unit.

GeoInvesting plans to file a whistleblower report against L&L Energy (Nasdaq: LLEN) for fraudulent revenue reports.  

In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 4 on the NYSE while decliners edged out advancers by more than 10 to 9 on Nasdaq. The broader S&P 500 added a point to 1727.

Bond Buying Continues, Markets Soar

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The Federal Reserve's announcement that it would continue its bond buying program sent the markets soaring in late afternoon trading with the Dow leaping 147 points to 15,676. Nasdaq surged 37 points to 3783.

On the upside

Alliance Fiber Optic Products (Nasdaq: AFOP) lifted its revenue guidance for the third quarter.

The Federal Reserve's decision to maintain its stimulus program sent shares of AuRico Gold (NYSE: AUQ), Harmony Gold (NYSE: HMY), Endeavour Silver (NYSE: EXK), Gold Fields (NYSE: GFI), Silvercorp Metals (NYSE: SVM) and First Majestic Silver (NYSE: AG) soaring.

Repros Therapeutics (Nasdaq: RPRX) reported upbeat additional study results for its Androxal to treat secondary hypogonadism.


On the downside


Walgreen's (NYSE: WAG) announcement that it would move its employees to a private health insurance exchange sent shares of the drug store operator's current medical benefits administrator Catamaran (Nasdaq: CTRX) tumbling.

William Blair wrote that vehicle electrification was lower than earlier forecasts sending shares of Polypore International (NYSE: PPO) tumbling.

Prima Biomed (Nasdaq: PBMD) announced positive results from a phase 2 study of its ovarian cancer treatment CVac but the stock price tumbled.  

In the broad market, advancing issues outpaced decliners by a margin of nearly 6 to 1 on the NYSE and by more than 5 to 3 on Nasdaq. The broader S&P 500 soared 20 points to 1725.

Markets Slip Ahead Of Fed Comments

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The markets turned negative during the midday with the Dow losing 47 points to 15,482 ahead of comments by the Federal Reserve. Nasdaq slipped 3 points to 3742.

On the upside

Shares of Benefitfocus (Nasdaq: BNFT) surged in its market debut.

Controladora Vuela (NYSE: VLRS) stock soared on its first trading day.

Sohu.com (Nasdaq: SOHU) subsidiary Sogou paid a special dividend to Series A preferred shareholders.


On the downside


Caesars Entertainment (Nasdaq: CZR) will raise approximately $4.85 billion through bonds and loans in order to refinance its debt.

Five Below (Nasdaq: FIVE) announced a secondary offering of 7.1 million common shares.

DragonWave (Nasdaq: DWI) priced its public offering of approximately 11.9 million units at the discounted price of $2.10 per unit.  

In the broad market, declining issues outpaced advancers by a margin of more than 5 to 3 on the NYSE and by nearly 2 to 1 on Nasdaq. The broader S&P 500 slipped 2 points to 1701.

Mixed Open Ahead Of Fed News

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The markets opened mixed with the Dow slipping 20 points to 15,509 while Nasdaq added 4 points to 3749 as investors await word from the Federal Reserve this afternoon about the tapering of stimulus measures.

On the upside

Adobe Systems (Nasdaq: ADBE) reported sharply lower third quarter earnings but subscription revenue soared.

Credit Suisse upgraded Nokia (NYSE: NOK) from a Neutral rating to an Outperform rating.

McKesson Medical-Surgical will sell and distribute Atossa Genetics' (Nasdaq: ATOS) MASCT device and patient collection kits.


On the downside


FBR Capital downgraded Tower Group International (Nasdaq: TWGP) from an Outperform rating to a Market Perform rating.

Triumph Group (NYSE: TGI) warned that it would have to record additional pre-tax program costs.

Fleetmatics Group (NYSE: FLTX) priced its follow-on public offering of more than 5.976 million common shares at the discounted price of $46.79 per share.  

In the broad market, declining issues outpaced advancers by a margin of 9 to 7 on the NYSE and by nearly 9 to 7 on Nasdaq. The broader S&P 500 edged up a fraction to 1705.

Modest Tapering Measures Boost Markets

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Optimism that the Federal Reserve will implement very modest tapering measures lifted the markets to a higher close with the Dow rising 34 points to 15,529. Nasdaq gained 27 points to 3745.

On the upside

Clovis Oncology (Nasdaq: CLVS) has engaged the services of Credit Suisse to explore strategic options including the possible sale of the company.

Credit Suisse initiated coverage of 3D Systems (NYSE: DDD) with a Buy rating.

NQ Mobile (NYSE: NQ) advanced again after introducing its Music Radar app on Friday.


On the downside


Investors locked in profits on Rock-Tenn (NYSE: RKT) and KapStone Paper and Packaging (NYSE: KS).

Coty (NYSE: COTY) narrowed fourth quarter losses but the company warned of lower revenue of lower revenue in 2014.

JinkoSolar (NYSE: JKS) offered 3.5 million American Depositary Shares.  

In the broad market, advancing issues outpaced decliners by a margin of nearly 2 to 1 on the NYSE and by more than 2 to 1 on Nasdaq. The broader S&P 500 gained 7 points to 1704.

Expectations that the Federal Reserve will maintain historically low interest rates lifted the markets during the midday with the Dow rising 38 points to 15,533. Nasdaq gained 26 points to 3744.

On the upside

Kythera Biopharmaceuticals (Nasdaq: KYTH) reported positive results from two late stage clinical trials of its ATX-101 to reduce submental fat.

Agenus (Nasdaq: AGEN) reported additional upbeat results from a Phase 2 study of its brain cancer vaccine Prophage Series G-100.

Safeway (NYSE: SWY) adopted a shareholder rights plan to prevent a hostile takeover.

On the downside


Berry Plastics Group (NYSE: BERY) blamed higher expenses and increased competition for cutting its fourth quarter outlook.

Sutor Technology Group (Nasdaq: SUTR) reported higher fourth quarter earnings and revenue but the stock price fell.

Green Plains Renewable Energy (Nasdaq: GPRE) priced its offering of $100 million convertible senior notes.

In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 3 on both the NYSE and on Nasdaq. The broader S&P 500 gained 7 points to 1704.

The markets opened higher with the Dow gaining 45 points to 15,540 as consumer prices edged up a smaller than expected 0.1% in August. Nasdaq rose 11 points to 3729.

On the upside

Private equity firm Sycamore Partners acquired an 8% stake in Aeropostale (NYSE: ARO).

The European Commission granted marketing authorization to Dendreon (Nasdaq: DNDN) for its prostate cancer treatment Provenge.

Repros Therapeutics (NYSE: RPRX) reported upbeat preliminary results from a safety study of its secondary hypogonadism treatment Androxal.


On the downside


Pandora Media (NYSE: P) will raise capital through an offering of 10 million common shares.

Outerwall (Nasdaq: OUTR) blamed weak DVD rentals for cutting its third quarter and full year guidance.

Investors locked in profits on Omeros (Nasdaq: OMER).  

In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 3 on the NYSE and by nearly 10 to 9 on Nasdaq. The broader S&P 500 added 4 points to 1702.

Markets Cheer Summers' Withdrawal

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Investors cheered the withdrawal of Larry Summers' as a candidate for the chair of the Federal Reserve. The markets closed sharply higher with the Dow soaring 118 points to 15,494. Nasdaq slipped 4 points to 3717.

On the upside

Forbes noted that insiders have been acquiring shares of Hilltop Holdings (NYSE: HTH) in the last six months.

Speculation that AVG Technologies (NYSE: AVG) may be acquired lifted shares of the Internet security software solutions provider.

Rumors that the potash cartel in the Urals region may be re-established lifted share of Intrepid Potash (NYSE: IPI).


On the downside


Investors locked in profits on NQ Mobile (NYSE: NQ).

Profit taking weighed down shares of Fusion-io (NYSE: FIO).

Shares of Miller Energy Resources (NYSE: MILL) fell as investors took profits.  

In the broad market, advancing issues outpaced decliners by a margin of more than 2 to 1 on the NYSE and by nearly 5 to 4 on Nasdaq. The broader S&P 500 gained 9 points to 1697.

The markets continued advancing during the midday with the Dow jumping 163 points to 15,539 as investors welcomed the withdrawal of Larry Summers from the Federal Reserve chair nomination. Nasdaq rose 11 points to 3733.

On the upside

Wedbush Securities analyst Liana Moussatos wrote that use of Omeros' (Nasdaq: OMER) OMS302 drug for ophthalmological procedures may be double previous estimates and lifted the price target for Omeros from $18 to $28.

Bargain hunters snapped up shares of McEwen Mining (NYSE: MUX).

Allegheny Technologies (NYSE: ATI) will sell its tungsten materials unit to Kennametal for approximately $605 million.


On the downside


Oppenheimer downgraded EZchip Semiconductor (Nasdaq: EZCH) from Outperform to Perform while Maxim cut its price target on the company from $38 to $29.

ExOne (Nasdaq: XONE) closed its public offering of 2.656 million shares of common stock.

NeoStem (Nasdaq: NBS) licensed three families of patents from the University of California, San Francisco.  

In the broad market, advancing issues outpaced decliners by a margin of more than 4 to 1 on the NYSE and by nearly 2 to 1 on Nasdaq. The broader S&P 500 climbed 15 points to 1703.

Summers Withdraws, Markets Soar

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The withdrawal of Larry Summers as a candidate for chair of the Federal Reserve sent the markets soaring to a sharply higher open with the Dow surging 160 points to 15,536. Nasdaq gained 16 points to 3739.

On the upside

Packaging Corp. of America will pay a premium of approximately $1.27 billion to purchase Boise (NYSE: BZ).

Rockwell Medical (Nasdaq: RMTI) continued rising after being designated as a Barbarian at the Gate by Trade-Ideas.

Piper Jaffray affirmed its Overweight rating on Avanir Pharmaceuticals (Nasdaq: AVNR) saying that the recent stock price drop was a buying opportunity.


On the downside


Sohu.com's (Nasdaq: SOHU) strategic cooperation agreement with Tencent Holdings weighed down shares of Qihoo 360 (NYSE: QIHU).

IAMGOLD (NYSE: IAG) and its joint venture partners will suspend mining excavation activities at the Yatela Mine on September 30, 2013.

Perion Network (NYSE: PVR) will merge with Conduit's Client Connect business.  

In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 1 on the NYSE and by nearly 5 to 2 on Nasdaq. The broader S&P 500 climbed 14 points to 1702.

Higher Close As Twitter Announces IPO

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The markets closed higher with the Dow climbing 75 points to 15,376 despite a drop in consumer sentiment as investors welcomed news that Twitter filed for an initial public offering. Nasdaq rose 6 points to 3722.

On the upside

Bloomberg reported that ViroPharma (Nasdaq: VPHM) hired Goldman Sachs to review buyout offers.

B. Riley & Co. upgraded Oclaro (Nasdaq: OCLR) from a Neutral rating to a Buy rating.

Suntech Power (NYSE: STP) named Zhou Weiping to the position of chief executive and interim chief financial officer effective immediately.


On the downside


Marketo (Nasdaq: MKTO) priced its follow-on public offering of 6 million common shares at the discounted price of $35.50 per share.

Investors locked in profits on Midstates Petroleum (NYSE: MPO).

PVR Partners (NYSE: PVR) priced its public offering of 5.5 million common units at the discounted price of $23 per unit.  

In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 3 on the NYSE and by 3 to 2 on Nasdaq. The broader S&P 500 rose 4 points to 1687.

The markets advanced during the midday with the Dow gaining 60 points to 15,360 even as consumer sentiment fell to a five month low. Nasdaq held steady at 3715.

On the upside

Rockwell Medical (Nasdaq: RMTI) received the Barbarian at the Gate designation from Trade-Ideas for trading above its daily resistance level.

Cell Therapeutics (Nasdaq: CTIC) will raise a net of $14.8 million through the sale of preferred stock.

Credit Suisse upgraded Safeway (NYSE: SWY) from an Underperform rating to an Outperform rating.


On the downside


Prana Biotechnology (Nasdaq: PRAN) delayed reporting results for its Huntington disease Reach 2HD trial until 2014.

Profit taking weighed down shares of Avanir Pharmaceuticals (Nasdaq: AVNR).

Shares of OCI Resources (NYSE: OCIR) fell on its first trading day.  

In the broad market, advancing issues outpaced decliners by a margin of more than 9 to 7 on both the NYSE and on Nasdaq. The broader S&P 500 added 3 points to 1687.

Mixed Open As Consumer Sentiment Slips

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The markets opened mixed with the Dow rising 26 points to 15,327 while Nasdaq lost 12 points to 3703 as consumer sentiment slipped.

On the upside

Shares of GSV Capital (Nasdaq: GSVC) climbed after Twitter filed for an initial public offering. GSV invested approximately $37.6 million in Twitter.

Ulta Salon, Cosmetics & Fragrance (Nasdaq: ULTA) reported higher second quarter earnings and revenue that topped analyst estimates.

NQ Mobile (NYSE: NQ) introduced its music information retrieval Music Radar application in China.


On the downside


Galena Biopharma (Nasdaq: GALE) priced its offering of 17.5 million units at the discounted price of $2.00 per share.

Summit Hotel Properties (NYSE: INN) priced its public offering of 15 million common shares at the discounted price of $9.20 per share.

Nanosphere (Nasdaq: NSPH) priced its public offering of 15 million common shares at the discounted price of $1.75 per share.  

In the broad market, declining issues with advancers on the NYSE while decliners edged out advancers by more than 10 to 9 on Nasdaq. The broader S&P 500 held steady at 1683.

The markets closed lower with the Dow losing 25 points to 15,300 on reports that technical problems caused a sharp drop in jobless claims. Nasdaq fell 9 points to 3715.

On the upside

SeaWorld Entertainment (NYSE: SEAS) reported higher year-to-date revenue and expects record revenue for the full year.

A Seeking Alpha contributor wrote that Goodrich Petroleum (NYSE: GDP) could double its stock price.

STMicroelectronics (NYSE: STM) will trade ex-dividend on Monday, September 16, 2013.


On the downside


Idera Pharmaceuticals (Nasdaq: IDRA) will provide an update of developments in its autoimmune compounds program at the Stifel Nicolaus 2013 Healthcare Confernece.

Shares of ExOne (Nasdaq: XONE) continued falling after pricing its public offering of 2.656 million common shares at a discount earlier this week.

Possible competition from generic drugs weighed down shares of Amarin (Nasdaq: AMRN).  

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 5 points to 1683.

The markets retreated during the midday with the Dow slipping 26 points to 15,300 over concerns that the jobless data was incomplete. Nasdaq lost 6 points to 3719.

On the upside

Umpqua Holdings (Nasdaq: UMPQ) will pay approximately $2 billion in cash and stock to acquire Sterling Financial (Nasdaq: STSA).

A Seeking Alpha contributor wrote that Nokia (NYSE: NOK) had an upside potential of at least 20%.

NetSol Technologies (Nasdaq: NTWK) reported higher fourth quarter earnings and revenue.


On the downside


Cisco's (Nasdaq: CSCO) introduction of a new network processor sent shares of EZchip (Nasdaq: EZCH) plummeting.

A Seeking Alpha contributor wrote that Universal Display's (Nasdaq: OLED) technology patents should be revoked.

The Men's Wearhouse (NYSE: MW) reported lower second quarter earnings and cut its full year outlook.  

In the broad market, declining issues outpaced advancers by a margin of more than 5 to 3 on the NYSE and by nearly 5 to 3 on Nasdaq. The broader S&P 500 lost 4 points to 1684.

Higher Open As Jobless Claims Drop

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The markets opened modestly higher with the Dow rising 5 points to 15,332 as jobless claims dropped to a seven year low. Nasdaq added 2 points to 3727.

On the upside

II-VI paid approximately $92 million in cash to purchase the Gallium Arsenide laser diode business of Oclaro (Nasdaq: OCLR).

Pandora Media (NYSE: P) named former aQuantive leader and Microsoft executive Brian McAndrews to the position of chief executive officer.

Extreme Networks (Nasdaq: EXTR) will acquire Enterasys Networks in an all cash deal valued at approximately $180 million.


On the downside


Lululemon Athletica (Nasdaq: LULU) reported lower second quarter earnings and forecast current quarter results below expectations.

Weatherford International (NYSE: WFT) chief financial officer John H. Briscoe left the oilfield services firm prompting downgrades.

Glu Mobile (Nasdaq: GLUU) priced its public offering of 6.3 million common shares at the discounted price of $2.10 per share.  

In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 4 on the NYSE and by 10 to 9 on Nasdaq. The broader S&P 500 eased a fraction to 1688.

The markets surged to close sharply higher with the Dow leaping 135 points to 15,326 as the prospect of military action against Syria continued to wane. Nasdaq lost 4 points to 3725.

On the upside

Shares of Galectin Therapeutics (Nasdaq: GALT) continued rising after announcing yesterday that it received a patent for its fatty liver disease treatment.

Synnex (NYSE: SNX) will purchase the customer care outsourcing business from IBM (NYSE: IBM) for approximately $505 million in cash and stock.

Gogo (Nasdaq: GOGO) introduced its next generation Gogo GTO service that will deliver more than 60 Mbps to airline flights.


On the downside


A Seeking Alpha contributor expects the stock price of Avanir Pharmaceuticals (Nasdaq: AVNR) to crash.

GSV Capital (Nasdaq: GSVC) will offer $50 million in convertible notes through a private offering.

Multimedia Games director (Nasdaq: MGAM) Stephen J. Greathouse sold more than $1 million worth of company stock.  

In the broad market, advancing issues outpaced decliners by a margin of 7 to 5 on the NYSE while decliners edged out advancers by more than 10 to 9 on Nasdaq. The broader S&P 500 added 5 points to 1689.

Easing fears over Syrian military action boosted the markets during the midday with the Dow soaring 106 points to 15,297. Nasdaq slipped 5 points to 3723.

On the upside

Linn Energy (Nasdaq: LINE) will file an Amended Form S-4 for its proposed merger with Berry Petroleum (NYSE: BRY).

Penn Viriginia (NYSE: PVA) will present at the DUG Eagle Ford Conference and Exhibition on September 18, 2013 and the Global Opportunities Conference on September 19, 2013.

Acquisition speculation lifted shares of Fusion-io (NYSE: FIO).


On the downside


Coldwater Creek (Nasdaq: CWTR) disappointed with a greater than expected loss for the second quarter and forecast a loss for the current quarter.

Restoration Hardware (NYSE: RH) fell to a loss for the second quarter due to charges related to stock compensation for chairman and co-chief executive Gary Friedman.

United Rentals (NYSE: URI) warned that third quarter rental rates may not increase by the projected 4.5%.  

In the broad market, advancing issues outpaced decliners by a margin of 7 to 5 on the NYSE and by nearly 10 to 9 on Nasdaq. The broader S&P 500 added 3 points to 1687.

Mixed Open As Apple Pricing Questioned

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The markets opened mixed with the Dow gaining 44 points to 15,235 while Nasdaq fell 17 points to 3711 over disappointment with Apple's pricing strategy for its newly unveiled low-end iPhone 5C.

On the upside

Harvest Natural Resources (NYSE: HNR) entered exclusive negotiations to sell itself to Pluspetrol Venezuela.

Bank of America-Merrill Lynch upgraded Nokia (NYSE: NOK) from a Neutral rating to a Buy rating while Berenberg upgraded the company from a Sell rating to a Buy rating.

Ventrus Biosciences (Nasdaq: VTUS) reported positive results from two clinical dermal safety studies and one pharmacokinetic study of its anal fissure treatment VEN 307.


On the downside


Bank of America-Merrill Lynch, Credit Suisse and UBS all downgraded Apple (Nasdaq: AAPL) saying that the low end iPhone 5C that was unveiled yesterday was still too expensive.

Profit taking weighed down shares of Alcatel-Lucent (NYSE: ALU).

ReneSola (NYSE: SOL) priced its registered direct offering of approximately $70 million in American Depositary Shares.  

In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 4 on the NYSE and by more than 5 to 3 on Nasdaq. The broader S&P 500 slipped 3 points to 1680.

Syrian Crisis Waning, Markets Soar

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With the possibility of military action against Syria easing, investors sent the markets soaring to a sharply higher close with the Dow leaping 127 points to 15,191. Nasdaq climbed 22 points to 3729.

On the upside

United Airlines (NYSE: UAL) reported that August 2013 consolidated passenger revenue per available seat mile increased between 3.5% to 4.5% from August 2012.

SunEdison (NYSE: SUNE) closed a $212.5 million financing arrangement to fund construction of a 100MWp solar power plant in Chile.

NanoString Technologies (Nasdaq: NSTG) received 510(k) clearance from the Food and Drug Administration for its Prosigna Breast Cancer Prognostic Gene Signature Assay.


On the downside


ChemoCentryx (Nasdaq: CCXI) reported interim data from a Phase II clinical trial of its diabetic nephropathy treatment CCX140.

Investors locked in profits on Myriad Genetics (Nasdaq: MYGN).

Peregrine Pharmaceuticals (Nasdaq: PPHM) reported a loss for the first quarter.  

In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 3 on the NYSE and by a margin of nearly 2 to 1 on Nasdaq. The broader S&P 500 climbed 12 points to 1683.

New Syrian Proposal Boosts Markets

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A proposal to place Syria's chemical weapons under international control eased fears of possible military strikes which lifted the markets during the midday with the Dow surging 109 points to 15,172. Nasdaq gained 17 points to 3723.

On the upside

XenoPort (Nasdaq: XNPT) reported positive preliminary results from two Phase I studies of its relapsing remitting multiple sclerosis treatment XP23829.

Tata Motors (Nasdaq: TTM) will expand into Indonesia and its Jaguar unit announced plans to move forward with production of its sports crossover vehicle C-X17.

Shares of Prospect Global Resources (Nasdaq: PGRX) continued climbing after completing a 50-for-1 reverse stock split last week.


On the downside


HD Supply Holdings (Nasdaq: HDS) widened second quarter losses even as revenue rose.

Model N (NYSE: MODN) lowered its revenue guidance for the first quarter and full year prompting downgrades.

Inergy Midstream (NYSE: NRGM) priced its public offering of 11 million common units at $22.50 per common unit.  

In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 3 on the NYSE and by a margin of nearly 2 to 1 on Nasdaq. The broader S&P 500 climbed 10 points to 1682.

The markets opened sharply higher with the Dow soaring 106 points to 15,169 as the possibility of military strikes against Syria eased. Nasdaq climbed 18 points to 3724.

On the upside

Five Below (Nasdaq: FIVE) swung to a better than expected profit for the second quarter and lifted its full year guidance.

Oxygen Biotherapeutics (Nasdaq: OXBT) received a patent for "Perfluorocarbons for use in Treating Pruritus."

SolarCity (Nasdaq: SCTY) signed a multimillion dollar deal with Direct Energy to provide solar electricity to businesses.


On the downside


Neurocrine Biosciences (Nasdaq: NBIX) reported that its tardive dyskinesia treatment NBI-98854 failed a Phase IIb Kinect study.

William Blair lowered its third quarter earnings estimate for Urban Outfitters (Nasdaq: URBN).

BlackBerry (Nasdaq: BBRY) reduced its sales force in the United States.  

In the broad market, advancing issues outpaced decliners by a margin of more than 2 to 1 on the NYSE and by a margin of nearly 5 to 2 on Nasdaq. The broader S&P 500 climbed 10 points to 1681.

Upbeat Data In China Boosts Markets

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Upbeat economic data from China sent the markets soaring to a sharply higher close with the Dow leaping 140 points to 15,063. Nasdaq surged 46 points to 3706.

On the upside

A Seeking Alpha contributor recommended Genco Shipping (NYSE: GNK).

Shares of E-Commerce China Dangdang (NYSE: DANG) rose on China's strong economic report.

Isis Pharmaceuticals (Nasdaq: ISIS) partnered with Biogen Idec (Nasdaq: BIIB) to develop therapies for treating neurological disorders.


On the downside


A Seeking Alpha contributor wrote that Celsion (Nasdaq: CLSN) was misleading investors by selectively reporting Thermodox trial results.


Silver Spring Networks (NYSE: SSNI) will provide its IPv6 networking platform for Sunrise Technologies' BrownBetty OpenGrid Light Control module but the stock price dropped.

A finance professor from NYU suggested that Tesla Motors (Nasdaq: TSLA) stock was only worth $67.12 per share.  

In the broad market, advancing issues outpaced decliners by a margin of more than 7 to 2 on the NYSE and by a margin of more than 3 to 1 on Nasdaq. The broader S&P 500 climbed 16 points to 1671.

China Data Boosts Markets

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China's better than expected growth in August exports boosted the markets during the midday with the Dow soaring 113 points to 15,035. Nasdaq climbed 33 points to 3693.

On the upside

Oncolytics Biotech (Nasdaq: ONCY) reported positive results from a Phase 2 study of its lung cancer treatment REOLYSIN.

Craig-Hallum upgraded Fusion-io (NYSE: FIO) from a Hold rating to a Buy rating.

Shares of Alcatel-Lucent (NYSE: ALU) climbed after announcing last week that it won a contract to supply ultra-broadband 4G LTE networks to Telefonica.


On the downside


Tenet Healthcare (NYSE: THC) will issue $4.6 billion worth of bonds in order to fund its acquisition of Vanguard Health Systems (NYSE: VHS).


Eldorado Gold (NYSE: EGO) provided updates for its Certej and Olympias resources.

Citi analyst Gary Taylor downgraded Community Health Systems (NYSE: CYH) from a Buy rating to a Neutral rating.  

In the broad market, advancing issues outpaced decliners by a margin of nearly 7 to 2 on the NYSE and by a margin of more than 5 to 2 on Nasdaq. The broader S&P 500 climbed 11 points to 1666.

The markets opened higher with the Dow climbing 88 points to 15,010 even as Congress prepared to vote on possible action against Syria. Nasdaq gained 21 points to 3681.

On the upside

Koch Industries will pay a premium of approximately $6.86 billion to acquire Molex (Nasdaq: MOLX).

Delta Air Lines (NYSE: DAL) will replace BMC Software on Standard & Poor's 500 index next week.

Unilife (Nasdaq: UNIS) will supply Sanofi with prefilled, automatic needle retraction Unifill Finesse syringes.


On the downside


Biodel (Nasdaq: BIOD) reported positive preliminary results from a Phase 2 clinical trial of its ultra rapid acting mealtime insulin to treat patients with type 1 diabetes but the stock price fell.


SunEdison (NYSE: SUNE) will spin off its SunEdison Semiconductor unit.

Hanwha SolarOne (Nasdaq: HSOL) reported a loss for the second quarter.  

In the broad market, advancing issues outpaced decliners by a margin of 7 to 2 on the NYSE and by a margin of nearly 5 to 2 on Nasdaq. The broader S&P 500 gained 8 points to 1663.

The markets closed flat with the Dow slipping 14 points to 14,922 as fewer than expected jobs were created in August. Nasdaq added a point to 3660.

On the upside

LTX-Credence (Nasdaq: LTXC) will pay approximately $93.5 million to acquire the Multitest and Everett Charles Technologies businesses of Dover (NYSE: DOV).

Kongzhong (Nasdaq: KONG) will  begin its 2nd Closed Beta Test of Guild Wars 2 in China on Tuesday, September 17, 2013.

Korn/Ferry International (NYSE: KFY) reported higher second quarter earnings and revenue that beat expectations.


On the downside


Several law firms have launched investigations in MiMedx Group (Nasdaq: MDXG) for securities law violations.


Emeritus (NYSE: ESC) cut its annual guidance for cash flow from facility operations.

Shares of KiOR (Nasdaq: KIOR) continued falling.  

In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 3 on the NYSE while decliners edged out advancers by a margin of nearly 10 to 9 on Nasdaq. The broader S&P 500 held steady at 1655.

The markets turned positive during the midday with the Dow rising 33 points to 14,970 with investors hopeful that disappointing August jobs growth will delay tapering of the Federal Reserve's bond buying program. Nasdaq gained 9 points to 3668.

On the upside

Celsion (Nasdaq: CLSN) will present at the Rodman & Renshaw Global Investment Conference on Monday, September 9, 2013.

VeriFone Systems (NYSE: PAY) fell to a loss for the third quarter but the results were better than expected.

Infoblox (NYSE: BLOX) reversed year ago losses to post a greater than expected profit for the fourth quarter.


On the downside


Mattress Firm Holding (Nasdaq: MFRM) reported higher second quarter earnings but the results fell short of analyst expectations prompting the company to lower its full year outlook.


Conns (Nasdaq: CONN) disappointed with second quarter earnings that missed expectations.

Active Power (Nasdaq: ACPW) blamed disappointing sales in China for withdrawing its third quarter guidance.  

In the broad market, advancing issues outpaced decliners by a margin of more than 2 to 1 on the NYSE while advancers barely edged out decliners by a slim margin on Nasdaq. The broader S&P 500 rose 5 points to 1660.

Markets Plunge Over Jobs And Syria

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Continued concerns about the Syrian crisis along with tepid jobs data sent the markets tumbling to a sharply lower open with the Dow plummeting 120 points to 14,816. Nasdaq dropped 29 points to 3629.

On the upside

Finisar (Nasdaq: FNSR) swung to a profit for the first quarter as revenue climbed and forecast current quarter results above expectations.

Ambarella (Nasdaq: AMBA) reported higher second quarter earnings and revenue that surpassed analyst expectations.

Third quarter earnings for Quicksilver (NYSE: ZQK) dropped but the results were better than expected.


On the downside


Investors locked in profits on Himax Technologies (Nasdaq: HIMX).


Bank of America/Merrill Lynch downgraded MannKind (Nasdaq: MNKD) from a Neutral rating to an Underperform rating.

Smith & Wesson (NYSE: SWHC) reported higher earnings and revenue that topped analyst estimates but the company forecast current quarter results that fell short of expectations.  

In the broad market, advancing issues were on par with decliners on the NYSE while decliners outpaced advancers by a margin of 5 to 3 on Nasdaq. The broader S&P 500 dropped 10 points to 1644.

Flat Close As Hiring Slips

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The markets closed flat with the Dow edging up 6 points to 14,937 as August hiring slipped. Nasdaq gained 9 points to 3658.

On the upside

Shares of Boston Scientific (NYSE: BSX) continued rising after an upgrade earlier this week.

Bargain hunters snapped up shares of First Solar (Nasdaq: FSLR).

Rockwell Medical (Nasdaq: RMTI) stock continued rising after reporting positive trial results yesterday.


On the downside


Campbell Soup (NYSE: CPB) stock dropped a day after announcing a partnership with Green Mountain Coffee Roasters (Nasdaq: GMCR) to offer soup in K-Cup packs for the Keurig brewer.


Forbes wrote that Vivus (Nasdaq: VVUS) was oversold.

Falling gold prices weighed down shares of Agnico Eagle Mines (NYSE: AEM) and McEwen Mining (NYSE: MUX).  

In the broad market, declining issues outpaced advancers by a slim margin of nearly 10 to 9 on the NYSE while advancers edged out decliners by more than 3 to 2 on Nasdaq. The broader S&P 500 added 2 points to 1655.

The markets traded in positive territory with the Dow adding 8 points to 14,939 as concerns about military strikes in Syria tempered enthusiasm for a drop in jobless claims. Nasdaq rose 6 points to 3655.

On the upside

FuelCell Energy (Nasdaq: FCEL) narrowed third quarter losses as revenue surged.

Shares of Himax Technologies (Nasdaq: HIMX) continued rising after a Seeking Alpha contributor issued a positive opinion of the stock.

Local.com (Nasdaq: LOCM) will provide location based services for Microsoft's (Nasdaq: MSFT) Bing.


On the downside


Bazaarvoice (Nasdaq: BV) narrowed losses for the first quarter but the stock price fell.


Eldorado Gold (NYSE: EGO) provided an exploration update for the first half of 2013.

Barclays downgraded Newmont Mining (NYSE: NEM) from an Overweight rating to an Equal Weight rating.  

In the broad market, advancing issues outpaced decliners by a margin of nearly 10 to 9 on the NYSE and by more than 3 to 2 on Nasdaq. The broader S&P 500 added 2 points to 1655.

Higher Open As Jobless Claims Fall

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First time applications for unemployment benefits fell to a five year low to lift the markets to a higher open with the Dow gaining 30 points to 14,960. Nasdaq rose 10 points to 3659.

On the upside

Morgan Stanley upgraded Groupon (Nasdaq: GRPN) from an Equal Weight rating to an Overweight rating.

Louisiana-Pacific (NYSE: LPX) will acquire Ainsworth Lumber in a deal valued at approximately $1.1 billion including the assumption of debt.

SKF Group will pay a premium of approximately $1.14 billion in cash to acquire Kaydon  (NYSE: KDN).


On the downside


Conns (Nasdaq: CONN) reported higher second quarter earnings but the results fell short of analyst expectations.


Catalyst Pharmaceutical Partners (Nasdaq: CPRX) will sell 8.8 million common shares through a registered direct public offering at the discounted price of $1.72 per share.

GlaxoSmithKline (NYSE: GSK) reported disappointing results from a MAGE-A3 cancer immunotherapeutic Phase 3 study which contained Agenus' (Nasdaq: AGEN) QS-21 Stimulon adjuvant.  

In the broad market, advancing issues outpaced decliners 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 rose 5 points to 1659.

Strong Auto Sales Boost Markets

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Upbeat auto sales boosted the markets during the midday with the Dow soaring 110 points to 14,944. Nasdaq climbed 35 points to 3647.

On the upside

A factory fire at rival Hynix Semiconductor lifted shares of Micron Technology (Nasdaq: MU) and SanDisk (Nasdaq: SNDK).

E*Trade (Nasdaq: ETFC) received approval to use $100 million of capital from a bank subsidiary to address broader corporate needs.

A Seeking Alpha contributor listed Himax Technologies (Nasdaq: HIMX) as one of three profitable companies with low debt that pays good dividends.


On the downside


Forbes questioned the business model and prospects of Unilife (Nasdaq: UNIS) and noted that the company continues to be unprofitable after 11 years.


Jeffries initiated coverage of Kinder Morgan (NYSE: KMI) with a Hold rating.

The Food and Drug Administration notified MiMedx (Nasdaq MDXG) in a letter dated August 28 that the company's Surgical Biologics unit violated the Public Health Service Act.  

In the broad market, advancing issues outpaced decliners by a margin of 7 to 3 on the NYSE and by more than 5 to 3 on Nasdaq. The broader S&P 500 climbed 14 points to 1654.

The markets opened higher with the Dow gaining 51 points to 14,885 even as the nation moved closer to military action against Syria. Nasdaq climbed 23 points to 3636.

On the upside

Ciena (Nasdaq: CIEN) narrowed third quarter losses more than expected as revenue climbed and the network equipment maker forecast current quarter revenue ahead of estimates.

Rockwell Medical (Nasdaq: RMTI) reported positive results from a late stage clinical trial of its chronic kidney disease treatment.

Hayman Capital Management acquired a 5.2% stake in J.C. Penney (NYSE: JCP) while Glenview Capital increased its stake to 9.1%.


On the downside


Second quarter earnings rose for Francesca's Holdings (Nasdaq: FRAN) but the results missed estimates and the women's clothing retailer forecast current quarter revenue that fell short of expectations.


SAIC (NYSE: SAI) disappointed with sharply lower second quarter earnings that missed expectations by a wide margin prompting the company to cut its full year guidance.

NQ Mobile (NYSE: NQ) will publish Perfect World's massively multiplayer online role playing game The Condor Heroes on the iOS platform but the stock price dropped.  

In the broad market, advancing issues outpaced decliners 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 gained 7 points to 1647.

The markets advanced in late afternoon trading to close modestly higher with the Dow rising 23 points to 14,833 despite growing support in Congress for military action in Syria. Nasdaq climbed 22 points to 3612.

On the upside

Cumulus Media (Nasdaq: CMLS) will acquire Dial Global for approximately $260 million in cash.

Roth Capital Partners issued a positive statement about ReneSola (NYSE: SOL).

Shares of Yingli Green Energy (NYSE: YGE) continued rising after reporting a narrower loss for the second quarter last week.


On the downside


Profit taking sank shares of Alaska Communications Systems Group (Nasdaq: ALSK).


Demand Media (NYSE: DMD) entered a new $225 million credit facility.

Dividend Channel noted that Shaw Communications (NYSE: SJR) was oversold.  

In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 4 on the NYSE and by more than 5 to 3 on Nasdaq. The broader S&P 500 gained 6 points to 1639.

The markets traded mixed during the midday with the Dow slipping 18 points to 14,791 as Congressional support for military action in Syria grew. Nasdaq gained 18 points to 3608.

On the upside

Nomura Equity Research analyst Stuart Jeffrey wrote that Nokia (NYSE: NOK) may explore an acquisition of Alcatel-Lucent (NYSE: ALU).

Barron's wrote that Soufun's (NYSE: SFUN) valuation was reasonable.

Global Hunter Securities upgraded Key Energy Services (NYSE: KEG) from a Neutral rating to a Buy rating.


On the downside


BioScrip (Nasdaq: BIOS) vice president of finance Bogusz Patricia recently sold 39,687 shares of stock.


Verizon Communications (NYSE: VZ) will pay approximately $130 billion to acquire Vodafone Group's (Nasdaq: VOD) 45% stake in Verizon Wireless.

An independent safety committee recommended that ArQule (Nasdaq: ARQL) lower the dosage of its liver cancer drug tivantinib after a number of study patients experienced low white blood cell counts.  

In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 4 on the NYSE and by nearly 7 to 3 on Nasdaq. The broader S&P 500 added 3 points to 1636.

Greater than expected expansion of the manufacturing sector boosted the markets to a higher open with the Dow gaining 75 points to 14,885. Nasdaq climbed 32 points to 3622.

On the upside

Microsoft (Nasdaq: MSFT) will pay approximately $7.2 billion to acquire Nokia's (NYSE: NOK) smartphones and patents.

Sterotaxis (Nasdaq: STXS) renewed its revolving credit facility with Silicon Valley Bank.

Ericsson (Nasdaq: ERIC) will build three global ICT centers over the next five years.


On the downside


Suntech Power (NYSE: STP) reached an understanding with its creditors to restructure the company.


Cytokinetics (Nasdaq: CYTK) and Amgen (Nasdaq: AMGN) reported disappointing results from a midstage clinical trial of their heart failure treatment omecamtiv mecarbil.

BMO Capital Markets downgraded LeafFrog Enterprises (NYSE: LF) from an Outperform rating to a Market Perform rating and cut its price target from $15 to $10.  

In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 2 on the NYSE and by more than 4 to 1 on Nasdaq. The broader S&P 500 gained 13 points to 1646.

U. S. Markets Closed

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U. S. markets are closed for Labor Day.

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