June 2014 Archives

The stock market finished the quarter on a mixed note with the Dow losing 25 points to close at 16,826 while Nasdaq rose 10 points to 4,408.

On the upside

Shares of Mannkind (Nasdaq: MKND) swung back into positive territory after Friday's selloff when its Affrezza inhaled insulin treatment was approved by the FDA with strong warnings due to pulmonary risk.

Zillow (Nasdaq: Z) announced a partnership with MLS-Listings whose subscribers will get their data displayed across Zillow, Yahoo (Nasdaq:YHOO) and AOL (NYSE: AOL) real estate online sites.

Investors continued to snap up shares of GoPro (Nasdaq: GPRO).  The stock made an impressive debut last Thursday.

On the downside

Shares of Ruthigen (Nasdaq:RTGN) tumbled after the biopharmaceutical company reported a disappointing quarterly loss.

Shares of Tower Group (TWGP) fell to a new low on doubts that a buyout by Amtrust Financial Services will be completed.

Rayonier Inc. (NYSE:RYN) completed its spin-off of Rayonier Advanced Materials Inc. (NYSE:RYAM) and was promptly downgraded by analysts at RBC Capital.

In the broad market, advancing issues outpaced decliners by a margin of more than 3 to 2 the NYSE and by 5 to 4 on Nasdaq. The broader S&P 500 slipped a fraction to 1960. Bitcoin rose $5.96 or 0.87% to $643.60.
Despite a contraction of the nation's economy in the first quarter, the markets advanced during the midday with the Dow gaining 41 points to 16,860. Nasdaq climbed 28 points to 4,378.

On the upside

Owens & Minor will buy Medical Action Industries (Nasdaq: MDCI) in a cash deal valued at approximately $204 million.

Shares of Sinclair Broadcast Group (Nasdaq: SBGI) surged after the Supreme Court ruled that Aereo's streaming service violated copyright laws.

The Food and Drug Administration approved Nanosphere's (Nasdaq: NSPH) Verigene Enteric Pathogens Nucleic Acid Test for bacteria.

On the downside

Valero Energy (NYSE: VLO) stock fell after the U.S. government granted permission to export condensate to two of Valero's competitors.

Heron Therapeutics (Nasdaq: HRTX) priced its offering of 4.5 million common shares at the discounted price of $11.75 per share.

CVR Refining (NYSE: CVRR) priced its public offering of 6.5 million common units at the discounted price of $26.07 per common unit.

In the broad market, advancing issues outpaced decliners by a margin of more than 3 to 2 the NYSE and by nearly 7 to 5 on Nasdaq. The broader S&P 500 gained 8 points to 1958. Bitcoin eased $1.07 or 0.18% to $584.40.
A strong increase in consumer confidence lifted the markets higher during the midday with the Dow rising 18 points to 16,955. Nasdaq climbed 28 points to 4,397.

On the upside

Japan regulators approved NeuroMetrix's (Nasdaq: NURO) NC-stat DPNCheck wearable device to detect diabetic peripheral neuropathy.

Shares of Xunlei (Nasdaq: XNET) surged in its market debut.

Groupon (Nasdaq: GRPN) stock continued climbing after Piper Jaffray wrote yesterday that the company's website deals were increasing.

On the downside

Antares Pharma (Nasdaq: ATRS) president and chief executive officer Paul K. Wotton, Ph.D. resigned.

Profit taking weighed down shares of Atlantic Power (NYSE: AT).

Shares of Broadcom (Nasdaq: BRCM) continued falling after negative comments from Cowen & Co. yesterday.

In the broad market, advancing issues outpaced decliners by a margin of more than 2 to 1 the NYSE and by nearly 7 to 3 on Nasdaq. The broader S&P 500 added 3 points to 1966. Bitcoin eased $1.07 or 0.18% to $584.40.

Mixed open as home prices surge

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The markets opened mixed with the Dow slipping 15 points to 16,921 while Nasdaq added 2 points to 4,371 as home prices surged.

On the upside 

Vertex Pharmaceuticals (Nasdaq: VRTX) reported upbeat results in two Phase III clinical trials of a combination therapy of VX-809 and Kalydeco to treat cystic fibrosis.

xG Technology (Nasdaq: XGTI) was selected as a subcontractor to provide communications and network services to the U.S. Army.

MeetMe (Nasdaq: MEET) reached a milestone of more than 15 million chats in one day yesterday.

On the downside 

KNOT Offshore Partners (NYSE: KNOP) priced its public offering of 4.6 million common units at the discounted price of $28.43 per unit.

B. Riley downgraded Web.com (Nasdaq: WWWW) from a Buy rating to a Neutral rating.

Ladenburg lowered its price target on ParkerVision (Nasdaq: PRKR) from $12.85 to $5.25.

In the broad market, declining issues outpaced advancers by a margin of 9 to 7 on the NYSE and by 10 to 9 on Nasdaq. The broader S&P 500 eased a point to 1960. Bitcoin eased $2.29 or 0.39% to $584.18.

The markets ended the day flat with the Dow slipping 9 points to 16,937 despite strong sales of existing homes as investors continued to monitor developments in Iraq. Nasdaq held steady at 4,368.

On the upside 

Agile Therapeutics (Nasdaq: AGRX) received a patent for its transdermal contraceptive patch Twirla.

Bargain hunters lifted shares of Voxeljet (NYSE: VJET).

Thompson Creek Metals (NYSE: TC) priced is exchange offer of common stock for 6.50% tangible equity units.

On the downside 

StemCells (Nasdaq: STEM) president and chief executive Martin McGlynn will present at the 2014 BIO International Convention on June 25, 2014.

Goldman Sachs downgraded Hercules Offshore (Nasdaq: HERO) from a Neutral rating to a Sell rating.

Merrimack Pharmaceuticals (Nasdaq: MACK) stock continued falling.

In the broad market, declining issues outpaced advancers by a slim margin on the NYSE and by 9 to 7 on Nasdaq. The broader S&P 500 held steady at 1962. Bitcoin lost $10.22 or 1.74% to $586.22.

Losses extended at midday

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The markets extended its losses during the midday with the Dow falling 35 points to 16,911. Nasdaq slipped 2 points to 4,365.

On the upside 

Wisconsin Energy (NYSE: WEC) will acquire Integrys Energy Group (NYSE: TEG) for approximately $5.8 billion in a cash and stock.

Nordic American Offshore (NYSE: NAO) ordered two new building Platform Supply Vessels.

Piper Jaffray said that the number of Groupon (Nasdaq: GRPN) deals were increasing.

On the downside 

A district judge overturned a jury's $173 million patent infringement verdict for Parkervision (Nasdaq: PRKR).

Altisource Residential (NYSE: RESI) lost an auction for unpaid loan balances from the Department of Housing and Urban Development.

General Electric (NYSE: GE) will buy Alstom.

In the broad market, declining outpaced advancers by a margin of 10 to 9 on the NYSE and by nearly 5 to 3 on Nasdaq. The broader S&P 500 slipped 2 points to 1959. Bitcoin lost $8.82 or 1.50% to $587.62.

Lower open as crude oil rises

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Rising crude oil prices weighed the markets down to a lower open with the Dow losing 28 points to 16,918. Nasdaq slipped 5 points to 4,362.

On the upside 

Nanosphere (Nasdaq: NSPH) will provide multi-target molecular diagnostic tests to HealthTrust members.

Oracle (NYSE: ORCL) will pay a premium of approximately $5.3 billion to acquire Micros Systems (Nasdaq: MCRS).

PLX Technology (Nasdaq: PLXT) will be acquired by Avago Technologies (Nasdaq: AVGO) in an all cash deal valued at approximately $309 million.

On the downside 

Profit taking weighed down shares of Meritor (NYSE: MTOR).

Advanced Micro Devices (NYSE: AMD) settled its tender offer for senior notes due 2017.

Investors locked in profits on American Airlines (Nasdaq: AAL).

In the broad market, declining issues barely outpaced advancers by a slim margin on the NYSE and by 9 to 7 on Nasdaq. The broader S&P 500 added a fraction to 1963. Bitcoin lost $10.89 or 1.86% to $585.55.

Dow closes at record

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The Dow closed the week with another record high by gaining 25 points to 16,947. Nasdaq rose 8 points to 4,368.

On the upside 

A Seeking Alpha contributor suggested that Teekay Tankers (NYSE: TNK) was undervalued.

TheStreet's Adam Feuerstein wrote favorably about bluebird bio (Nasdaq: BLUE).

Bargain hunters lifted shares of Arrowhead Research (Nasdaq: ARWR).

On the downside 

Oracle (NYSE: ORCL) disappointed with lower fourth quarter earnings that fell short to analyst expectations.

Shares of Eclipse Resources (NYSE: ECR) fell on its first trading day.

Retreating gold prices weighed down shares of McEwen Mining (NYSE: MUX).

In the broad market, advancing issues outpaced decliners by a margin of nearly 7 to 5 on both the NYSE and on Nasdaq. The broader S&P 500 added 3 points to 1962. Bitcoin slipped $1.00 or 0.17% to $587.50.

Markets higher at midday

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The markets traded higher during the midday with the Dow rising 22 points to 16,944. Nasdaq eased a fraction to 4,358.

On the upside 

Shares of Kite Pharma (Nasdaq: KITE) surged in its market debut.

Alkermes (Nasdaq: ALKS) stock continued rising.

Bargain hunters snapped up shares of Conatus Pharmaceuticals (Nasdaq: CNAT).

On the downside 

Merrimack Pharmaceuticals (Nasdaq: MACK) extended its losses.

Merger discussions between Targa Resources (Nasdaq: TRGP) and Energy Transfer Equity (NYSE: ETP) ended.

Emerge Energy Services (NYSE: EMES) priced its secondary public offering of more than 3.5 million common units at the discounted price of $109.06 per unit.

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 edged up a point to 1960. Bitcoin slipped $5.34 or 0.91% to $587.04.

The markets opened higher with the Dow gaining 30 points to 16,951 as investors continued to monitor developments in Iraq. Nasdaq eased 2 points to 4,356.

On the upside 

CarMax (NYSE: KMX) reported higher first quarter earnings and revenue that beat analyst expectations.

StemCells (Nasdaq: STEM) closed enrollment in its Phase I/II clinical trial for dry age-related macular degeneration.

Shire (Nasdaq: SHPG) rejected a $46.2 billion acquisition offer from AbbVie (NYSE: ABBV).

On the downside 

Fourth quarter earnings and revenue topped analyst estimates for Smith & Wesson (Nasdaq: SWHC) but the firearms maker forecast current quarter and full year earnings below expectations.

Hercules Offshore (Nasdaq: HERO) released its June Fleet Status Report.

Shares of RadioShack (NYSE: RSH) continued falling.

In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 3 on the NYSE and by more than 7 to 5 on Nasdaq. The broader S&P 500 added 2 points to 1961. Bitcoin eased $1.13 or 0.19% to $591.24.

The markets closed mixed with the Dow rising 14 points to 16,921 as oil and gold prices rose. Nasdaq slipped 3 points to 4,359.

On the upside 

Bloomberg reported that Energy Transfer Equity may make an offer to acquire Targa Resources (NYSE: TRGP).

Craig-Hallum initiated coverage of Senomyx (Nasdaq: SNMX) with a Buy rating and a price target of $16.50.

Rising gold price lifted shares of Eldorado Gold (NYSE: EGO) and McEwen Mining (NYSE: MUX).

On the downside 

Rumors circulated that China Mobile Game (Nasdaq: CMGE) fired nine executives including president Ying Shuling.

Arrowhead Research (Nasdaq: ARWR) a new RNAi therapeutic clinical candidate ARC-AAT.

TheStreet Ratings affirmed its Sell rating on Plug Power (NYSE: PLUG).

In the broad market, advancing issues outpaced decliners by a margin of more than 9 to 7 on the NYSE while decliners edged out advancers by nearly 5 to 4 on Nasdaq. The broader S&P 500 added 2 points to 1959. Bitcoin slipped $4.70 or 0.79% to $598.73.

Markets lower at midday

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The markets extended its losses during the midday with the Dow slipping 23 points to 16,883 despite a greater than expected drop in first time applications for unemployment benefits. Nasdaq lost 8 points to 4,354.

On the upside 

Shares of Zafgen (Nasdaq: ZFGN) surged in its market debut.

Markit (Nasdaq: MRKT) stock soared on its first trading day.

Enbridge Energy Partners (NYSE: EEP) will sell a 12.6% interest in its Midcoast Operating subsidiary for $350 million in cash.

On the downside 

Coach (NYSE: COH) warned of lower revenue for fiscal 2015.

Rite Aid (NYSE: RAD) reported sharply lower first quarter earnings even as revenue rose.

Nokia (NYSE: NOK) began trading ex-dividend today.

In the broad market, advancing issues outpaced decliners by a margin of 9 to 7 on the NYSE while decliners edged out advancers by 7 to 5 on Nasdaq. The broader S&P 500 slipped a point to 1955. Bitcoin eased $1.61 or 0.27% to $601.83.

The markets opened flat with the Dow easing 2 points to 16,904 even as jobless claims fell more than expected. Nasdaq slipped 5 points to 4,357.

On the upside 

BlackBerry (Nasdaq: BBRY) reversed year ago losses to post an unexpected profit for the first quarter.

StemCells (Nasdaq: STEM) reported positive interim data from a PhaseI/II clinical trial of its age-related macular degeneration treatment HuCNS-SC.

Measurement Specialties (Nasdaq: MEAS) will be acquired by TE Connectivity (NYSE: TEL) in a deal valued at approximately $1.7 billion including the assumption of debt.

On the downside 

KBR (NYSE: KBR) fell to an unexpected loss for the first quarter and will conduct a strategic review.

Pier 1 Imports (NYSE: PIR) disappointed with lower first quarter earnings that missed expectations and cut its full year earnings forecast.

MD Anderson Cancer Center criticized Northwest Biotherapeutics (NYSE: NWBO) for issuing press releases containing unjustified claims about its cancer vaccine DCVax-Direct.

In the broad market, advancing issues outpaced decliners by a margin of more than 3 to 2 on the NYSE while decliners edged out advancers by nearly 5 to 4 on Nasdaq. The broader S&P 500 held steady at 1956. Bitcoin eased $0.94 or 0.16% to $602.50.

The Federal Reserve cited a strengthening economy for reducing its bond purchasing program. The markets soared in late afternoon trading to close higher with the Dow climbing 98 points to 16,906. Nasdaq gained 25 points to 4,362.

On the upside 

Jennings Capital initiated coverage of Ballard Power Systems (Nasdaq: BLDP) with a Buy rating, which also lifted shares of Plug Power (Nasdaq: PLUG).

LiveDeal (Nasdaq: LIVE) reported an impressive 400% increase in new customer acquisitions over the last several months.

Morgan Stanley upgraded Nimble Storage (NYSE: NMBL) from an Equal Weight rating to an Overweight rating.

On the downside 

A Seeking Alpha contributor wrote that Neonode (Nasdaq: NEON) was a strong sell.

Shares of Century Communities (NYSE: CCS) dropped on its first trading day.

Foresight Energy (NYSE: FELP) stock fell in its market debut.

In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 2 on the NYSE and by 5 to 3 on Nasdaq. The broader S&P 500 climbed 14 to 1956. Bitcoin eased $0.91 or 0.15% to $603.68.

The markets traded lower during the midday with the Dow losing 11 points to 16,796 ahead of the Federal Reserve's policy update. Nasdaq slipped 3 points to 4,333.

On the upside 

Shares of ZS Pharma (Nasdaq: ZSPH) leaped on its first trading day.

Viper Energy Partners (Nasdaq: VNOM) stock surged in its market debut.

Wunderlich initiated coverage of MeetMe (Nasdaq: MEET) with a Buy rating.

On the downside 

Seeking Alpha contributor The Forensic Accountant wrote that Dominion Resources Black Warrior Trust (NYSE: DOM) was grossly overvalued with a downside potential of over 75%.

NGL Energy Partners (NYSE: NGL) priced its public offering of 8 million common units at the discounted price of $43.85 per unit.

Shares of Parnell Pharmaceuticals (Nasdaq: PARN) fell in its market debut.

In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 4 on the NYSE and by more than 4 to 3 on Nasdaq. The broader S&P 500 edged up a fraction to 1942. Bitcoin eased $3.59 or 0.60% to $601.00.

Lower open as Fed meets

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The markets opened lower with the Dow losing 19 points to 16,788 over expectations that the Federal Reserve would lower its bond purchases. Nasdaq slipped 2 points to 4,334.

On the upside 

A Food and Drug Administration advisory committee recommended approval of EnteroMedics' (Nasdaq: ETRM) obesity treatment VBLOC Therapy.

The Food and Drug Administration granted Breakthrough Therapy Designation to Insmed's (Nasdaq: INSM) nontuberculous mycobacterial lung disease treatment Arikayce/Arikace.

Adobe Systems (Nasdaq: ADBE) reported higher second quarter earnings and revenue that topped analyst estimates.

On the downside 

Merck (NYSE: MRK) will no longer develop Endocyte's (Nasdaq: ECYT) vintafolide.

ConAgra Foods (NYSE: CAG) blamed disappointing sales for lowering its fourth quarter earnings outlook.

La-Z-Boy (NYSE: LZB) reported lower fourth quarter earnings that fell short of analyst expectations.

In the broad market, declining issues barely edged out advancers by a slim margin on the NYSE and by more than 9 to 7 on Nasdaq. The broader S&P 500 added a point to 1943. Bitcoin edged up $0.88 or 0.14% to $605.47.

Consumer prices rose in May but not enough for the Federal Reserve to increase interest rates. The markets closed higher with the Dow gaining 27 points to 16,808. Nasdaq rose 16 points to 4,337.

On the upside 

Quantum Fuel Systems Technologies (Nasdaq: QTWW) received an order from Dillion Transport for the company's Back-of-Cab Fuel Storage System.

Real Goods Solar (Nasdaq: RGSE) subsidiary Sunetric deployed a solar-to-grid curtailment solution in Kauai.

Bloomberg reported that Oracle (Nasdaq: ORCL) may offer more than $5 billion to purchase Micros Systems (Nasdaq: MCRS).

On the downside 

Prescience Point Research Group alleged that Chicago Bridge & Iron (NYSE: CBI) inflated its profits.

Investors locked in profits on Access Midstream Partners (NYSE: ACMP).

Mechel (NYSE: MTL) will consolidate shipments within its Mecheltrans subsidiary to save money but the stock price fell.

In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 3 on the NYSE and by nearly 7 to 3 on Nasdaq. The broader S&P 500 gained 4 points to 1941. Bitcoin rose $11.14 or 1.84% to $604.34.

Markets higher as Fed meets

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The markets traded higher during the midday with the Dow adding 16 points to 16,797 as the Federal Reserve met. Nasdaq rose 17 points to 4,338.

On the upside 

GW Pharmaceuticals (Nasdaq: GWPH) reported promising preliminary data for its treatment-resistant epilepsy therapy Epidiolex.

Amira Nature Foods (NYSE: ANFI) reported sharply higher fourth quarter earnings and revenue that surpassed analyst expectations.

SolarCity (Nasdaq: SCTY) will purchase solar panel maker Silveo.

On the downside 

Boston Scientific (Nasdaq: BSX) said that it would be opportunistic when exploring possible acquisitions.

Investors locked in profits on Magnegas (Nasdaq: MNGA).

Profit taking weighed down shares of Sinclair Broadcast Group (Nasdaq: SBGI).

In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 3 on the NYSE and by nearly 7 to 3 on Nasdaq. The broader S&P 500 rose 3 points to 1940. Bitcoin edged up $3.24 or 0.54% to $596.45.

The markets opened higher with the Dow rising 20 points to 16,801 despite a drop in home construction last month. Nasdaq gained 18 points to 4,339.

On the upside 

Giga-tronics (Nasdaq: GIGA) received a $2.4 million order from the Naval Air Warfare Center.

Sabine Oil & Gas denied reports that it withdrew an $850 million loan and affirmed that the financing required to acquire Forest Oil (NYSE: FST) was still in place.

Galena Biopharma (Nasdaq: GALE) completed enrollment in a Phase 2a clinical trial of its ovarian and endometrial cancer treatment GALE-301.

On the downside 

Acorda Therapeutics (Nasdaq: ACOR) will offer $300 million worth of convertible senior notes.

A Seeking Alpha contributor wrote that Maxim's price target increase on Achillion Pharmaceuticals (Nasdaq: ACHN) yesterday from $6 to $22 was unrealistic.

Profit taking weighed down shares of Seattle Genetics (Nasdaq: SGEN).

In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 3 on the NYSE and by nearly 3 to 2 on Nasdaq. The broader S&P 500 added 2 points to 1940. Bitcoin edged up $2.10 or 0.35% to $595.31.

Flat close as oil prices rise

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The markets closed flat with the Dow adding 5 points to 16,781 despite a gain in factory production as oil prices advanced. Nasdaq rose 10 points to 4,321.

On the upside 

Forbes listed Aveo Pharmaceuticals (Nasdaq: AVEO) as one of five biotech stocks with the potential to be acquired at a premium of at least 100%.

Northwest Biotherapeutics (Nasdaq: NWBO) was added to the Russell Global index and the Russell 3000 index.

Shares of China Digital TV (NYSE: STV) continued climbing.

On the downside 

Sabine Oil & Gas withdrew an $850 million loan that was to be used to acquire Forest Oil (NYSE: FST).

Shares of YPF(Nasdaq: YPF) plummeted after the Supreme Court upheld lower court rulings that Argentina must pay billions to holders of defaulted bonds.

RPG Specialty Lending (NYSE: TSLX) extended its losses.

In the broad market, advancing issues were on par with decliners on the NYSE while advancers edged out decliners by more than 10 to 9 on Nasdaq. The broader S&P 500 edged up a point to 1937. Bitcoin gained $20.95 or 3.53% to $593.21.

The markets traded modestly higher during the midday with the Dow rising 9 points to 16,785 as home builder sentiment rose for the first time this year. Nasdaq added 8 points to 4,318.

On the upside 

The Food and Drug Administration granted Orphan Drug Designation to DARA BioSciences' (Nasdaq: DARA) experimental multiple myeloma treatment KRN5500.

Maxim lifted its price target on Achillion Pharmaceuticals (Nasdaq: ACHN) from $6 to $22.

Bluebird Bio (Nasdaq: BLUE) reported positive preliminary results for its gene therapy treatment LentiGlobin.

On the downside 

Shares of Enteromedics (Nasdaq: ETRM) fell ahead of a Food and Drug Administration advisory panel review of the company's implantable weight loss device tomorrow.

Bernstein analyst Geoff Porges expects Vertex Pharmaceuticals' (Nasdaq: VRTX) cystic fibrosis combination treatments Kalydeco and VX-809 will fail.

Slowing revenue growth at Alibaba weighed downs shares of Yahoo (Nasdaq: YHOO), which holds a 22.6% stake in the Chinese e-commerce company.

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 added 2 points to 1938. Bitcoin rose $17.33 or 2.94% to $589.58.

An increase in May factory production lifted the markets to a higher open with the Dow adding 11 points to 16,786. Nasdaq gained 10 points to 4,320.

On the upside 

Medtronic (NYSE: MDT) will acquire Covidien (NYSE: COV) for a premium of approximately $42.9 billion in cash and stock.

SanDisk (Nasdaq: SNDK) will pay a premium of approximately $1.1 billion to purchase Fusion-io (NYSE: FIO).

Williams Companies (NYSE: WMB) will buy the 50% general partner interest in Access Midstream that the company does not already own for nearly $6 billion.

On the downside 

DreamWorks (Nasdaq: DWA) launched DreamWorksTV on YouTube to deliver original content for families but the stock price dropped.

Investors locked in profits on Karyopharm Therapeutics (Nasdaq: KPTI).

Level 3 Communications (Nasdaq: LVLT) will acquire tw Telecom (Nasdaq: TWTC) in a cash and stock deal valued at approximately $5.64 billion.

In the broad market, advancing issues outpaced decliners by a margin of more than 9 to 7 on the NYSE and by 9 to 7 on Nasdaq. The broader S&P 500 added 3 points to 1940. Bitcoin gained $18.39 or 3.11% to $590.64.

Despite concerns about Iraq, the markets closed higher with the Dow gaining 41 points to 16,775 as investors embraced merger and acquisition news. Nasdaq rose 13 points to 4,310.

On the upside 

A Food and Drug Administration advisory committee voted not to require cardiovascular outcomes trials for Nektar Therapeutics' (Nasdaq: NKTR) peripherally-acting mu-opioid receptor antagonist class of drugs.

Reuters reported that GTech SpA made a bid for International Game Technology (NYSE: IGT).

Rumors circulated that Level 3 (NYSE: LVLT) was exploring a possible bid for tw telecom (Nasdaq: TWTC).

On the downside 

OncoMed Pharmaceuticals (Nasdaq: OMED) halted enrollment in Phase 1 clinical trials of vantictumab and Fzd8c-Fc.

A judge ruled that patents owned by InterDigital (Nasdaq: IDCC) were not infringed upon by ZTE and Nokia.

Investors locked in profits on XOMA (Nasdaq: XOMA).

In the broad market, advancing issues outpaced decliners 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 gained 6 points to 1936. Bitcoin rose $13.92 or 2.35% to $592.17.

The markets traded higher during the midday with the Dow rising 23 points to 16,757 over corporate consolidations. Nasdaq gained 13 points to 4,311.

On the upside 

Shares of Memorial Resource Development (Nasdaq: MRD) soared on its first trading day.

Abengoa (Nasdaq: ABY) stock leaped in its market debut.

Karyopharm Therapeutics (Nasdaq: KPTI) announced initial Phase 1 data for its Selinexor combined with dexamethasone in multiple myeloma patients.

On the downside 

Cesca Therapeutics (Nasdaq: KOOL) priced its public offering of 7.53 units at the discounted price of $1.50 per unit.

Bloomberg News reported that the Justice Department is pursuing a $10 billion settlement from Citigroup (NYSE: C) for misleading investors about mortgage securities bonds.

Galena Biopharma (Nasdaq: GALE) has engaged another marketing firm to promote its experimental breast cancer vaccine Neuvax through fake news articles.

In the broad market, declining issues outpaced advancers by a margin of 5 to 4 on the NYSE while advancers edged out decliners by a slim margin on Nasdaq. The broader S&P 500 rose 4 points to 1934. Bitcoin added $8.10 or 1.38% to $586.35.

Acquisition news lifts markets

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Acquisition news lifted the markets to a higher open with the Dow gaining 27 points to 16,761. Nasdaq rose 8 points to 4,306.

On the upside 

Priceline will pay a premium of approximately $2.6 billion to acquire OpenTable (Nasdaq: OPEN).

Sycamore Partners, which has acquired a 9.9% stake in Express (NYSE: EXPR), may make a bid for the retailer.

InterCloud Systems (Nasdaq: ICLD) has become a VMware partner.

On the downside 

Finisar (Nasdaq: FNSR) reported sharply higher fourth quarter earnings but the results fell short of analyst expectations and the company forecast current quarter revenue below estimates.

Capstone Turbine (Nasdaq: CPST) widened losses for the fourth quarter.

GNC Holdings (NYSE: GNC) chief financial officer Michael M. Nuzzo resigned.

In the broad market, declining issues outpaced advancers by a margin of 10 to 9 on the NYSE while advancers edged out decliners by nearly 3 to 2 on Nasdaq. The broader S&P 500 added 2 points to 1932. Bitcoin gained $22.95 or 3.82% to $601.20.

Instability in Iraq sent the markets down to a sharply lower close with the Dow plummeting 109 points to 16,734. Nasdaq tumbled 34 points to 4,297.

On the upside 

Twitter (NYSE: TWTR) chief operating officer Ali Rowghani resigned as Twitter has failed to expand its user base at an acceptable pace.

BlackBerry (Nasdaq: BBRY) entered a three-year mobile payment agreement with EnStream.

Shares of Nordic American Offshore (NYSE: NAO) climbed on its first trading day.

On the downside 

Stillwater Mining (NYSE: SWC) cited surging precious metals prices for maintaining its mining operations rather than accelerating plans.

Rising crude oil price weighed down shares of American Airlines Group (Nasdaq: AAL), Delta Air Lines (NYSE: DAL) and JetBlue Airways (Nasdaq: JBLU.

Profit taking weighed down share of Applied Micro Circuits (Nasdaq: AMCC).

In the broad market, declining issues outpaced advancers by a margin of more than 4 to 3 on the NYSE and by nearly 2 to 1 on Nasdaq. The broader S&P 500 dropped 13 points to 1930. Bitcoin tumbled $47.97 or 8.09% to $593.00.

The markets traded lower during the midday with the Dow losing 56 points to 16,787 as first time applications for unemployment benefits rose. Nasdaq fell 12 points to 4,319.

On the upside 

Epirus Switzerland, which will merge with Zalicus (Nasdaq: ZLCS), reported positive results from a Phase 3 study of its active rheumatoid arthritis treatment BOW015.

Sigma Designs (Nasdaq: SIGM) fell to a loss for the first quarter but the results were better than expected prompting an upgrade.

3D Analytics said that Arotech (Nasdaq: ARTX) stock had the potential to triple and set a $12 price target on the company.

On the downside 

Deutsche Bank downgraded SouFun (NYSE: SFUN) from a Buy rating to a Hold rating.

Investors locked in profits on Conatus Pharmaceuticals (Nasdaq: CNAT).

Profit taking weighed down shares of Vitesse Semiconductor (Nasdaq: VTSS).

In the broad market, declining issues outpaced advancers by a margin of more than 5 to 4 on the NYSE and by nearly 5 to 4 on Nasdaq. The broader S&P 500 lost 6 points to 1937. Bitcoin slipped $4.63 or 0.73% to $636.33.

May retail sales rose by a less than expected 0.3% to weigh the markets down to a lower open with the Dow falling 50 points to 16,793. Nasdaq lost 18 points to 4,313.

On the upside 

The Food and Drug Administration removed a partial hold on Geron's (Nasdaq: GERN) clinical trial of its myelofibrosis treatment imetelstat.

LiveDeal (Nasdaq: LIVE) reported a 244% increase in traffic during the first week of a new ad campaign.

Restoration Hardware (NYSE: RH) swung to a greater than expected profit for the first quarter and lifted its full year forecast.

On the downside 

Lululemon Athletica (Nasdaq: LULU) reported sharply lower first quarter earnings, cut its full year forecast and announced the retirement of chief financial officer John Currie at the end of the fiscal year.

Wave Systems (Nasdaq: WAVX) will sell 5.2 million shares of common stock at the discounted price of $1.90 per share.

Ariad Pharmaceuticals (Nasdaq: ARIA) priced its private placement of convertible senior notes.

In the broad market, declining issues outpaced advancers by a margin of more than 3 to 2 on both the NYSE and on Nasdaq. The broader S&P 500 lost 6 points to 1937. Bitcoin eased $1.31 or 0.20% to $639.66.

The World Bank cut its forecast for global economic growth sending the markets tumbling to a sharply lower close with the Dow plunging 102 points to 16,843. Nasdaq lost 6 points to 4,331.

On the upside 

Conatus Pharmaceuticals (Nasdaq: CNAT) stock surged despite a lack of news.

BioDelivery Sciences International (Nasdaq: BDSI) president and chief executive Dr. Mark A. Sirgo was interviewed on Bloomberg TV, TheStreet.com and Business News Network about its opioid dependence treatment BUNAVAIL.

MakeMyTrip (Nasdaq: MMYT) partnered with TrustYou.

On the downside 

Shares of NQ Mobile (Nasdaq: NQ) continued falling after the company announced yesterday that it will sell a minority interest in its wholly owned  subsidiary Beijing NationSky Network Technology.

Profit taking weighed down share of Doral Financial (NYSE: DRL).

B Riley analyst Scott Tilghman slashed his price target on RadioShack (NYSE: RSH) to $0.

In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 3 on both the NYSE and on Nasdaq. The broader S&P 500 lost 6 points to 1943. Bitcoin slipped $6.44 or 1.00% to $644.66.

The markets extended its losses during the midday with the Dow dropping 87 points to 16,858 over concerns of a global economic slowdown. Nasdaq slipped 3 points to 4,334.

On the upside 

Norhtwest Biotherapeutics (Nasdaq: NWBO) reported positive results from an ongoing Phase I/II trial of its cancer treatment DCVax-Direct.

Montage Technology (Nasdaq: MONT) agreed to be acquired by Shanghai Pudong Science and Technology Investment for a premium of approximately $693 million.

Bank of America/Merrill Lynch upgraded Micron Technology (Nasdaq: MU) from an Underperform rating to a Buy rating.

On the downside 

Auxilium Pharmaceuticals (Nasdaq: AUXL) partnered with Prasco to launch a generic version of its testosterone gel Testim.

United Natural Foods (Nasdaq: UNFI) reported higher third quarter earnings and revenue but the company forecast full year earnings below estimates.

A profit warning by Lufthansa weighed down share of Delta Airlines (NYSE: DAL).

In the broad market, declining issues outpaced advancers by a margin of nearly 2 to 1 on the NYSE and by nearly 5 to 3 on Nasdaq. The broader S&P 500 lost 5 points to 1944. Bitcoin slipped $4.87 or 0.75% to $646.24.

The World Bank lowered its Global Economic Outlook sending the markets down to a lower open with the Dow falling 61 points to 16,884. Nasdaq lost 5 points to 4,332.

On the upside 

Synaptics (Nasdaq: SYNA) will acquire Renesas for approximately $475 million.

Ulta Beauty (Nasdaq: ULTA) reported higher first quarter earnings and revenue that topped analyst estimates and forecast current quarter revenue ahead of expectations.

BioFuel Energy (Nasdaq: BIOF) will pay approximately $275 million to acquire JBGL Capital.

On the downside 

Investors locked in profits on Achillion Pharmaceuticals (Nasdaq: ACHN).

The Food and Drug Administration extended its review of Orexigen Therapeutics' (Nasdaq: OREX) weight loss medication NB32.

Sterne Agee downgraded The Bancorp (Nasdaq: TBBK) from a Buy rating to a Neutral rating.

In the broad market, declining issues outpaced advancers by a margin of more than 5 to 2 on the NYSE and by 3 to 1 on Nasdaq. The broader S&P 500 lost 5 points to 1945. Bitcoin slipped $3.45 or 0.53% to $647.66.

The markets ended flat with the Dow adding 2 points to barely set a new closing record of 16,945. Nasdaq edged up a point to 4,338.

On the upside 

Astea International (Nasdaq: ATEA) will implement its Astea Alliance solution suite for a global IT services firm in France.

Puerto Rico's supreme court ordered the lower court that would decide Doral Financial's (NYSE: DRL) lawsuit against the Puerto Rican government to hasten the process.

Shares of Acorn Energy (Nasdaq: ACFN) extended its gains.

On the downside 

Ocean Power Technologies (Nasdaq: OPTT) chief executive Charles F. Dunleavy and appointed David L. Keller as interim chief executive.

Qiwi (Nasdaq: QIWI) will offer more than 7.97 million American Depositary  Shares.

Jefferies downgraded eHealth (NYSE: EHTH) from a Buy rating to a Hold 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 4 on Nasdaq. The broader S&P 500 eased a fraction to 1950. Bitcoin added $4.16 or 0.64% to $649.81.

Markets slip as investors pause

|

The markets drifted lower during the midday with the Dow slipping 11 points to 16,931 as investors took a breather. Nasdaq lost 7 points to 4,328.

On the upside 

Endeavour International (NYSE: END) lifted its second quarter production outlook.

Scientific Games (Nasdaq: SGMS) named Gavin Isaacs to the position of chief executive officer.

Canaccord initiated coverage of Applied Micro Circuits (Nasdaq: AMCC) with  a Buy rating.

On the downside 

Basic Energy Services (NYSE: BAS) announced a secondary offering of 6 million common shares.

Investors locked in profits on Magnum Hunter Resources (NYSE: MHR).

The slowing real estate market in China weighed down shares of SouFun (NYSE: SFUN).

In the broad market, declining issues outpaced advancers by a margin of nearly 2 to 1 on the NYSE and by more than 5 to 3 on Nasdaq. The broader S&P 500 slipped 3 points to 1948. Bitcoin added $6.01 or 0.92% to $651.66.

The markets opened lower with the Dow losing 38 points to 16,904 after a record session yesterday. Nasdaq slipped 9 points to 4,326.

On the upside 

Achillion Pharmaceuticals (Nasdaq: ACHN) initiated dosing of patients in a Phase 1 clinical trial of its hepatitis C treatment ACH-3422 and announced the lifting of a clinical hold on another hepatitis C drug sovaprevir.

Receptos (Nasdaq: RCPT) reported positive results from a Phase 2 study of its relapsing multiple sclerosis treatment RPC1063.

Financial Times reported that Chico's FAS (NYSE: CHS) has engaged in discussions to go private.

On the downside 

Francesca's Holdings (Nasdaq: FRAN) disappointed with lower first quarter earnings that missed expectations, forecast second quarter results below estimates and lowered its full year outlook.

RadioShack (NYSE: RSH) widened losses more than expected as revenue dropped.

B/E Aerospace (Nasdaq: BEAV) will separate into two independent publicly traded companies.

In the broad market, declining issues outpaced advancers by a margin of more than 9 to 7 on the NYSE and by more than 7 to 5 on Nasdaq. The broader S&P 500 lost 5 points to 1946. Bitcoin added $4.52 or 0.69% to $650.17.

Merger and acquisition news lifted the markets to a modestly higher close with the Dow rising 18 points to 16,943. Nasdaq gained 14 points to 4,336.

On the upside 

Reuters reported that International Game Technology (NYSE: IGT) retained the services of Morgan Stanley to explore a possible sale of the company.

Motley Fool wrote that Twitter (NYSE: TWTR) had become an attractive investment.

Barron's wrote that Office Depot's (NYSE: ODP) stock price had the potential to surge more than 50%.

On the downside 

Pilgrim's Pride (Nasdaq: PPC) withdrew its offer to acquire Hillshire Brands (NYSE: HSH).

Raymond James downgraded Maximus (NYSE: MMS) from an Outperform rating to a Market Perform rating.

Rite Aid (NYSE: RAD) lowered its first quarter and full year guidance.

In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 3 on the NYSE and by nearly 5 to 2 on Nasdaq. The broader S&P 500 added a point to 1951. Bitcoin slipped $2.56 or 0.40% to $647.21.

The markets traded mixed during the midday with the Dow slipping 6 points to 16,917 while Nasdaq added 2 points to 4,324 even as corporate consolidations made headlines.

On the upside 

Acquisition speculation lifted shares of Achillion Pharmaceuticals (Nasdaq: ACHN).

Analog Devices (Nasdaq: ADI) offered $2 billion to acquire Hittite Microwave (Nasdaq: HITT).

Acorn Energy (NYSE: ACFN) director Andy Sassine purchased 232,684 shares of company stock.

On the downside 

Tyson (NYSE: TSN) won the bidding war for Hillshire Brands (NYSE: HSH) with a sweetened offer valued at approximately $8.55 billion including the assumption of debt.

A leaked email implied that Ericsson (Nasdaq: ERIC) may steal a contract from Neustar (NYSE: NSR).

Comverse (Nasdaq: CNSI) widened first quarter losses as revenue fell.

In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 3 on the NYSE and by more than 5 to 3 on Nasdaq. The broader S&P 500 eased a point to 1947. Bitcoin slipped $1.61 or 0.25% to $648.16.

Flat open after record week

|

The markets opened flat with the Dow adding 11 points to 16,936 after a record run last week. Nasdaq rose 7 points to 4,329.

On the upside 

Jefferies upgraded Dollar General (NYSE: DG) from a Hold rating to a Buy rating.

Merck (NYSE: MRK) will pay a premium of approximately $3.85 billion in cash to acquire Idenix Pharmaceuticals (Nasdaq: IDIX).

Billionaire investor Carl Icahn acquired a 9.39% stake in Family Dollar Stores (NYSE: FDO).

On the downside 

Profit taking weighed down shares of Keurig Green Mountain (Nasdaq: GMCR).

Shares of Melco Crown Entertainment (Nasdaq: MPEL) continued falling after FBR Capital warned on Friday of slowing growth in Macau.

Investors locked in profits on Halcon Resources (NYSE: HK).

In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 3 on the NYSE and by more than 5 to 3 on Nasdaq. The broader S&P 500 added a point to 1950. Bitcoin slipped $3.17 or 0.49% to $646.61.

The markets posted record closes with the Dow soaring 88 points to set a new high of 16,924 on upbeat jobs data. Nasdaq climbed 25 points to 4,321.

On the upside 

TheStreet Ratings affirmed its Buy rating for Keurig Green Mountain (Nasdaq: GMCR).

Comtech Telecommunications (Nasdaq: CMTL) impressed with sharply higher third quarter earnings that nearly doubled to beat analyst expectations prompting the company to lift its full year revenue outlook.

UBS wrote that Quiksilver (NYSE: ZQK) would be a good acquisition target for VF (NYSE: VF).

On the downside 

Smith Micro Software (Nasdaq: SMSI) denied rumors that it was developing a smartphone product with Amazon.

SeaChange International (Nasdaq: SEAC) widened losses more than expected as revenue tumbled and the company forecast current quarter and full year revenue below expectations.

Profit taking weighed down shares of Just Energy Group (NYSE: JE).

In the broad market, advancing issues outpaced decliners by a margin of nearly 3 to 1 on the NYSE and by more than 5 to 2 on Nasdaq. The broader S&P 500 gained 8 points to 1949. Bitcoin slipped $4.90 or 0.76% to $648.26.

The markets advanced during the midday with the Dow climbing 65 points to 16,901 as the nation's job market recovered to pre-recession levels. Nasdaq gained20 points to 4,316.

On the upside 

Shares of Arista Networks (NYSE: ANET) surged on its first trading day.

JP Morgan initiated coverage of Cheetah Mobile (NYSE: CMCM) with an Overweight rating.

Bank of America/Merrill Lynch upgraded Angie's List (Nasdaq: ANGI) from a Neutral rating to a Buy rating.

On the downside 

Top Ships (Nasdaq: TOPS) priced its public offering of 10 million common shares at the discounted price of $2.00 per share.

Vertex Energy (Nasdaq: VTNR) announced a private placement of $17.1 million worth of common stock.

Diamond Foods (Nasdaq: DMND) widened third quarter losses more than expected.

In the broad market, advancing issues outpaced decliners by a margin of nearly 7 to 2 on the NYSE and by more than 5 to 2 on Nasdaq. The broader S&P 500 rose 7 points to 1947. Bitcoin eased $1.25 or 0.19% to $651.91.

Strong jobs growth lifted the markets to a higher open with the Dow gaining 62 points to 16,899. Nasdaq rises 13 points to 4,310.

On the upside 

A Seeking Alpha contributor wrote that RMG Networks (Nasdaq: RMGN) was a good long term investment.

Verifone (NYSE: PAY) narrowed second quarter losses as revenue rose.

The Food and Drug Administration granted fast track status to GW Pharmaceuticals' (Nasdaq: GWPH) Dravet syndrome treatment Epidiolex.

On the downside 

Hertz Global (NYSE: HTZ) must restate all financial reports going back three years and has delayed its first quarter earnings release for the second time.

Shares of Novavax (Nasdaq: NVAX) extended its losses.

Rally Software (NYSE: RALY) narrowed first quarter losses more than expected but revenue fell short of analyst expectations and the company forecast current quarter revenue below estimates.

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 6 points to 1947. Bitcoin eased $1.25 or 0.19% to $651.91.

ECB rate cut boosts markets

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A rate cut by the European Central Bank sent the markets soaring to a sharply higher close with the Dow climbing 98 points to 16,836. Nasdaq surged 44 points to 4,296.

On the upside 

Uni-Pixel (Nasdaq: UNXL) will provide an operational update on Wednesday, June 25, 2014.

Abaxas Petroleum (Nasdaq: AXAS) lifted its full year production outlook.

Bio-Reference Laboratories (Nasdaq: BRLI) reported lower second quarter earnings but the results beat analyst expectations.

On the downside 

Piper Jaffray downgraded Life Time Fitness (NYSE: LTM) to a Neutral rating from an Overweight rating.

Cautious comments by Zynga (Nasdaq: ZNGA) chief executive Don Mattrick weighed down shares of the online social game developer.

Novavax (Nasdaq: NVAX) announced plans to offer $100 million worth of common stock.

In the broad market, advancing issues outpaced decliners by a margin of 7 to 2 on the NYSE and by more than 7 to 2 on Nasdaq. The broader S&P 500 climbed 12 points to close at a record 1940. Bitcoin rose $11.74 or 1.80% to $652.04.

Higher open as ECB cuts rates

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The markets opened higher with the Dow adding 12 points to 16,750 after the European Central Bank cut interest rates. Nasdaq edged up a point to 4,253.

On the upside 

Ciena (NYSE: CIEN) narrowed second quarter losses more than expected as revenue climbed and the company forecast current quarter revenue ahead of estimates.

MicroVision (Nasdaq: MVIS) will collaborate with a major global consumer electronics brand to develop an innovative smartphone display engine.

The Food and Drug Administration lifted its hold on a midstage clinical study of Halozyme Therapeutics' (Nasdaq: HALO) pancreatic cancer treatment PEGPH20.

On the downside 

Rite Aid (NYSE: RAD) blamed higher drug expenses along with lower reimbursement rates for lowering its 2015 earnings outlook.

RCS Capital (NYSE: RCAP) priced its public offering 24 million common shares at the discounted price of $20.25 per share.

Vera Bradley (Nasdaq: VRA) reported a drop in first quarter earnings as revenue fell and forecast lower second quarter revenue.

In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 3 on the NYSE and by more than 5 to 3 on Nasdaq. The broader S&P 500 held steady at 1927. Bitcoin rose $19.85 or 3.01% to $660.15.

Expansion of the nation's service sector lifted the markets to a higher close with the Dow adding 15 points to 16,737. Nasdaq rose 17 points to 4,251.

On the upside 

Shares of Anadigics (Nasdaq: ANAD) continued rising after a Seeking Alpha contributor wrote yesterday that the stock was significantly undervalued.

A Reuters report that China may eliminate export tariffs and quotas on rare earth metals lifted shares of Molycorp (Nasdaq: MCP).

Bloomberg reported that Medtronic was exploring a possible bid for Smith & Nephew (NYSE: SNN).

On the downside 

Shares of CareTrust REIT (Nasdaq: CTRE) fell after the Ensign Group (Nasdaq: ENSG) completed the spin-off CareTrust yesterday.

Shares of Zogenix (Nasdaq: ZGNX) extended its losses.

Transcept Pharmaceuticals (Nasdaq: TSPT) fell a day after the company paid a special dividend of $1.33 per share.

In the broad market, advancing issues outpaced decliners by a margin of nearly 10 to 9 on the NYSE and by nearly 5 to 4 on Nasdaq. The broader S&P 500 added 3 points to close at a record 1927. Bitcoin fell $21.13 or 3.30% to $640.73.

The nation's service sector expanded last month to lift the markets higher during the midday with the Dow rising 15 points to 16,738. Nasdaq gained 21 points to 4,255.

On the upside 

The European Medicines Agency accepted Vanda Pharmaceuticals' (Nasdaq: VNDA) Marketing Authorization Application for Hetlioz to treat non-24-hour sleep-wake disorder.

Odyssey Marine Exploration (Nasdaq: OMEX) said that early recovery results at the SS Central America site off the coast of South Carolina have greatly exceeded expectations.

3D Analytics wrote that China Finance Online (Nasdaq: JRJC) was poised to quadruple.

On the downside 

PricewaterhouseCoopers will resign as Annie's (NYSE: BNNY) independent accounting firm.

Cyberonics (Nasdaq: CYBX) reported higher fourth quarter earnings but revenue fell short of analyst expectations and the company forecast 2015 revenue below estimates.

FuelCell Energy's (Nasdaq: FCEL) disappointing results weighed down shares of Ballard Power (Nasdaq: BLDP).

In the broad market, declining issues outpaced advancers by a margin of nearly 10 to 9 on the NYSE while advancers edged out decliners by more than 10 to 9 on Nasdaq. The broader S&P 500 rose 4 points to 1928. Bitcoin lost $24.27 or 3.81% to $637.59.

Mixed open over jobs data

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The markets opened mixed with the Dow losing 23 points to 16,699 while Nasdaq added 3 points to 4,237 as the nation's private employers hired fewer than expected workers in May.

On the upside 

Dai-ichi Life Insurance will pay a premium of approximately $5.7 billion to acquire Protective Life (NYSE: PL).

NQ Mobile (NYSE: NQ) reported that an independent investigation concluded that the company did not engage in fraudulent conduct alleged by Muddy Waters.

DragonWave (Nasdaq: DRWI) raised its first quarter revenue guidance.

On the downside 

TIBCO Software (Nasdaq: TIBX) warned that second quarter revenue would fall short of expectations prompting downgrades.

FuelCell Energy (Nasdaq: FCEL) widened second quarter losses more than expected.

Shares of Yingli (NYSE: YGE), Trina Solar (NYSE: TSL) and Canadian Solar (Nasdaq: CSIQ) all fell after the Commerce Department announced plans to increases tariffs on Chinese solar panels.

In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 2 on the NYSE and by more than 5 to 2 on Nasdaq. The broader S&P 500 eased a fraction to 1923. Bitcoin slips $15.19 or 2.35% to $646.66.

The markets closed lower with the Dow losing 21 points to 16,722 despite a gain in factory orders. Nasdaq slipped 3 points to 4,234.

On the upside 

The Fresh Market (Nasdaq: TFM) chairman Ray D. Berry bought 435,000 shares of company stock last week.

Jefferies initiated coverage of Applied Materials (Nasdaq: AMAT) with a Buy rating.

Shares of IAMGOLD (NYSE: IAG) surged on no news.

On the downside 

Theravance (Nasdaq: THRX) completed the separation of Theravance Biopharma (Nasdaq: TBPH), forming two independent, publicly traded companies.

Doral Financial (NYSE: DRL) must reclassify $229.9 million from Puerto Rico as a loss.

Profit taking weighed down shares of EveryWhere Global (Nasdaq: EVRY).

In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 3 on both the NYSE and on Nasdaq. The broader S&P 500 held steady at 1924. Bitcoin added $1.75 or 0.26% to $662.98.

Factory orders rose more than expected but the markets traded lower during the midday with the Dow slipping 22 points to 16,721 as gains in housing prices slowed. Nasdaq lost 6 points to 4,230.

On the upside 

NF Energy Saving (Nasdaq: NFEC) will supply Water Diversion Works with $15 million worth of butterfly valve flow control equipment.

Acorn Energy (Nasdaq: ACFN) subsidiary DSIT Solutions completed the first milestone of a contract for an underwater acoustic monitoring system.

Acadia Healthcare (Nasdaq: ACHC) will pay approximately $660 million in cash to acquire Partnerships in Care.

On the downside 

Investors locked in profits on Giga-tronics (Nasdaq: GIGA).

A Seeking Alpha contributor wrote that Whiting USA Trust (NYSE: WHZ) was overvalued.

JAKKS Pacific (Nasdaq: JAKK) announced a private placement of $75 million worth of convertible notes.

In the broad market, declining issues outpaced advancers by a margin of more than 3 to 2 on the NYSE and by nearly 2 to 1 on Nasdaq. The broader S&P 500 eased a point to 1923. Bitcoin added $4.74 or 0.71% to $665.97.

The markets opened lower with the Dow losing 26 points to 16,717 as the Eurozone Consumer Price Index fell in May. Nasdaq held steady at 4,237.

On the upside 

After Pilgrim's Pride (Nasdaq: PPC) increased its offer for Hillshire Brands (NYSE: HSH) to top Tyson Foods' (NYSE: TSN) bid, Hillshire Brands said that it would engage in negotiations with both companies.

Spherix (Nasdaq: SPEX) completed a $20 million equity financing deal.

InterDigital (Nasdaq: IDCC) entered a multi-year patent licensing agreement with Samsung Electronics and updated its second quarter revenue guidance.

On the downside 

Quicksilver (NYSE: ZQK) widened second quarter losses more than expected as revenue dropped prompting a downgrade.

Krispy Kreme Doughnuts (NYSE: KKD) reported higher first quarter earnings and revenue but the company cut its full year earnings guidance.

Shares of Clovis Oncology (Nasdaq: CLVS) continued falling after data indicated that its lung cancer treatment CO-1686 was linked to diabetes.

In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 4 on the NYSE and by 9 to 6 on Nasdaq. The broader S&P 500 eased a point to 1923. Bitcoin slipped $5.25 or 0.80% to $655.98.

The markets closed mixed with the Dow gaining 26 points to 16,743 as manufacturing activity expanded at a slower than expected pace in May. Nasdaq slipped 5 points to 4,237.

On the upside 

Robert W. Baird initiated coverage of NOW (NYSE: DNOW) with a Neutral rating.

Ariad Pharmaceuticals (Nasdaq: ARIA) reported positive results from a Phase 2 study of its cancer treatment Iclusig.

Conns (Nasdaq: CONN) reported higher first quarter earnings and revenue that surpassed analyst expectations.

On the downside 

Shares of NewLead Holdings (Nasdaq: NEWL) continued falling.

Puma Biotechnology (NYSE: PBYI) reported positive results from a Phase II test of its breast cancer treatment PB272 but news that GlaxoSmithKline's (NYSE: GSK) breast cancer treatment Tykerb failed a Phase III trial sent shares of Puma Biotech plummeting.

Bebe Stores (Nasdaq: BEBE) chief executive Steve Birkhold sold 140,980 shares of company stock.

In the broad market, declining issues outpaced advancers by a margin of nearly 10 to 9 on the NYSE and by nearly 3 to 2 on Nasdaq. The broader S&P 500 added a point to 1924. Bitcoin rose $14.54 or 2.22% to $654.45.

The Institute for Supply Management corrected its manufacturing index for the second time today to an increase to 55.4 in May from a reading of 54.9 the previous month. The markets advanced with the Dow rising 24 points to 16,741. Nasdaq fell 12 points to 4,229.

On the upside 

EveryWare Global (Nasdaq: EVRY) reached forbearance agreements with its lenders until June 30, 2014.

Reuters reported that Dai-ichi Life engaged in negotiations to acquire Protective Life (NYSE: PL).

Ventas will pay approximately $2.6 billion in cash and stock to purchase American Realty Capital Healthcare Trust (Nasdaq: HCT).

On the downside 

Rumors circulated that Google Glass (Nasdaq: GOOG) would no longer use Himax Technologies (Nasdaq: HIMX).

FreeSeas (Nasdaq: FREE) settled its debt with Credit Suisse with a payment of $22.6 million.

GTx (Nasdaq: GTXI) reported upbeat results from a Phase 2 clinical study of enobosarm in breast cancer patients but the stock price fell.

In the broad market, declining issues outpaced advancers by a margin of nearly 10 to 9 on the NYSE and by nearly 5 to 3 on Nasdaq. The broader S&P 500 edged up a fraction to 1924. Bitcoin slipped $10.85 or 1.73% to $629.05.

Expansion of the manufacturing sector slowed in May to weigh the markets down to a lower open with the Dow slipping 16 points to 16,700. Nasdaq fell 22 points to 4,219.

On the upside 

Giga-tronics (Nasdaq: GIGA) signed an agreement to develop a variant of its high performance fast tuning YIG filters for a third aircraft platform.

Rumors that Shire may make a bid for NPS Pharmaceuticals (Nasdaq: NPSP) lifted shares of the biopharmaceutical.

Broadcom (Nasdaq: BRCM) retained the services of JP Morgan to explore strategic alternatives for its baseband business including a possible sale of the unit.

On the downside 

MasTec (NYSE: MTZ) warned of lower second quarter revenue.

Spherix (Nasdaq: SPEX) raised the losses related to stock dilution for the three month period ended May 30, 2014 from $3.8 million to $8 million.

Zacks Equity Research recommended selling Neonode (Nasdaq: NEON).

In the broad market, declining issues outpaced advancers by a margin of nearly 2 to 1 on the NYSE and by more than 5 to 2 on Nasdaq. The broader S&P 500 lost 4 points to 1918. Bitcoin slipped $14.36 or 2.30% to $625.55.

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