July 2016 Archives

The markets closed mixed with the Dow losing 24 points to 18,432 as the gross domestic product rose less than expected in the second quarter. Nasdaq rose 7 points to 5,162. 


On the upside


DigitalGlobe (NYSE: DGI) reported sharply higher second quarter earnings that topped analyst estimates.


Qiagen (Nasdaq: QGEN) reported better than expected earnings for the second quarter.


CBL & Associates (NYSE: CBL) reported higher second quarter earnings that surpassed expectations.


On the downside


eHealth (Nasdaq: EHTH) fell to a loss for the second quarter as revenue slipped.


Embraer (NYSE: ERJ) blamed a $200 million provision related to a corruption investigation for falling to an unexpected loss for the second quarter.


WisdomTree Investments (Nasdaq: WETF) reported sharply lower second quarter earnings.


In the broad market, advancing issues outpaced decliners by a margin of 5 to 3 on the NYSE while decliners barely edged out advancers by a slim margin on Nasdaq. The broader S&P 500 added 3 points to 2,173. Bitcoin slipped $1 to $651.

The markets traded mixed during the midday with the Dow losing 22 points to 18,433 as the nation's economy expanded less than expected in the second quarter. Nasdaq rose 8 points to 5,163. 


Chipotle will open its first Tasty Made hamburger restaurant in Lancaster, Ohio in the fall. The simple menu will feature hamburgers, french fries and milkshakes. The fast casual restaurant will use premium ingredients such as fresh ground beef and preservative-free buns.


Facebook could owe the Internal Revenue Service up to $5 billion for a tax penalty plus interest. The IRS has been investigating the social media giant since 2010 for transferring the worldwide rights of its business, excluding the U.S. and Canada, to Facebook Ireland. The asset move was part of a strategy to lower the company's taxes.


After carefully reviewing Anheuser-Busch InBev's increased acquisition offer, SABMiller's board will recommend approval of the $104.94 billion deal. Chinese regulators have given its blessing to the merger provided that SABMiller sells its stake in China's Snow Breweries. Combining the two breweries will create an industry giant that sells approximately 30% of world's beer.


In the broad market, declining issues outpaced advancers by a margin of more than 10 to 9 on the NYSE while advancers were on par with decliners on Nasdaq. The broader S&P 500 added 3 points to 2,174. Bitcoin edged up to $653.

A disappointing 1.2% growth in the nation's economy in the second quarter weighed the markets down to a lower open with the Dow falling 49 points to 18,407. Nasdaq added a point to 5,156. 


On the upside


TSR (Nasdaq: TSRI) reported higher fourth quarter earnings and revenue.


Cloud Peak Energy (NYSE: CLD) swung to a better than expected profit for the second quarter.


YRCW (Nasdaq: YRCW) reported a greater than expected profit for the second quarter.


On the downside


Seres Therapeutics (Nasdaq: MCRB) reported disappointing results from a Phase 2 study of SER-109 to treat multiply recurrent Clostridium difficult infection.


Second quarter earnings slipped for Stericycle (Nasdaq: SRCL) and the company trimmed its full year forecast.


MDC Partners (Nasdaq: MDCA) disappointed with sharply lower second quarter earnings that fell short of analyst expectations.


In the broad market, declining issues outpaced advancers by a margin of more than 10 to 9 on the NYSE and by nearly 2 to 1 on Nasdaq. The broader S&P 500 added 3 points to 2,170. Bitcoin slipped $1 to $651.

It was a mixed close for the markets with the Dow losing 15 point to 18,456 as jobless claims rose. Nasdaq gained 15 points to 5,154. 


On the upside


Shares of Evoke Pharma (NYSE: EVOK) continued soaring.


Sharecare will acquire Healthways' (Nasdaq: HWAY) Population Health business.


GrubHub (NYSE: GRUB) reported higher second quarter earnings and revenue that topped analyst estimates.


On the downside


Triumph Group (NYSE: TGI) disappointed with sharply lower first quarter earnings that fell short of expectations.


NovoCure (Nasdaq: NVCR) widened second quarter losses more than expected.


Frank's International (NYSE: FI) fell to a greater than expected loss for the second quarter as revenue plunged.


In the broad market, advancing issues barely edged out decliners by a slim margin on the NYSE while decliners outpaced advancers by nearly 5 to 4 on Nasdaq. The broader S&P 500 added 3 points to 2,170. Bitcoin slipped $1 to $651.

Trouble for car makers

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The markets traded lower during the midday with the Dow dropping 72 point to 18,399 as the nation's homeownership rate fell to match its lowest level in 51 years. Nasdaq eased a point to 5,138. 


Ford disappointed with lower second quarter earnings as the nation's second largest car maker posted losses in Asia and South America. Sales were flat in the U.S. and is expected to fall for the year. However, Ford maintained its full year earnings outlook.  


Fiat Chrysler will stop production of passenger cars in the U.S. by early 2017 due to disappointing sales. The popular Jeep SUVs and Ram pickup trucks will continue to be made as the company retools its operations in order to increase profit margins. Passenger cars will be made in Mexico, Canada or other countries.


Despite an emissions scandal, Volkswagon sold more vehicles in the first half of 2016 than any other car maker to become the world's largest automaker. Volkswagon dethroned Toyota by increasing the number of vehicles sold by 1.5% to 5.12 million. Toyota sold 4.99 million.


In the broad market, declining issues outpaced advancers by a margin of 10 to 9 on the NYSE and by more than 7 to 5 on Nasdaq. The broader S&P 500 lost 3 points to 2,162. Bitcoin slipped $1 to $651.

First time applications for unemployment benefits rose to weigh the markets down to a lower open with the Dow falling 61 point to 18,411. Nasdaq slipped 2 points to 5,137. 


On the upside


Groupon (Nasdaq: GRPN) reported a smaller than expected loss for the second quarter and lifted its full year revenue forecast.


Oracle (Nasdaq: ORCL) will pay a premium of approximately $9.3 billion to acquire NetSuite (NYSE: N).


Facebook (Nasdaq: FB) impressed with sharply higher second quarter earnings and revenue that surpassed analyst expectations by a wide margin.


On the downside


Infinera (Nasdaq: INFN) reported lower second quarter earnings and warned of softening demand.


Blucora (Nasdaq: BCOR) fell to a loss for the second quarter.


GNC Holdings (NYSE: GNC) reported lower second quarter earnings and revenue and announced the departure of chief executive officer Michael G. Archbold.


In the broad market, advancing issues barely edged out decliners by a slim margin on the NYSE while decliners outpaced advancers by more than 10 to 9 on Nasdaq. The broader S&P 500 lost 4 points to 2,161. Bitcoin slipped $1 to $651.

The markets closed mixed with the Dow easing a point to 18,472 as the Federal Reserve held interest rates steady but noted that the economy was strengthening and left open the possibility of a rate hike later this year. Nasdaq climbed 29 points to 5,139. 


On the upside


Shares of Xtera Communications (Nasdaq: XCOM) climbed for the fourth day.


LogMeIn (Nasdaq: LOGM) will merge with Citrix's (Nasdaq: CTXS) GoTo business.


The Food and Drug Administration conditionally accepted Evoke Pharma's (NYSE: EVOK) proprietary brand name for EVK-001.


On the downside


Anavex Life Sciences (Nasdaq: AVXL) reported disappointing results from a Phase 2a study of ANAVEX 2-73 in patients with mild-to-moderate Alzheimer's disease.


The Justice Department is investigating Alere (NYSE: ALR) for its bill collection practices.


Shares of SkyPeope Fruit Juice (Nasdaq: SPU) fell for the second day in a row as investors locked in profits.


In the broad market, declining issues outpaced advancers by a margin of more than 10 to 9 on the NYSE while advancers edged out decliners by more than 9 to 7 on Nasdaq. The broader S&P 500 slipped 2 points to 2,166. Bitcoin edged up to $652.

The markets traded mixed during the midday with the Dow losing 8 points to 18,465 as investors await the Federal Reserve's interest rate decision. Nasdaq gained 18 points to 5,128. 


Investors and analysts had been bracing for a sharp drop in iPhone sales and Apple revenue in the third quarter. While both did fall, the decrease was not as sharp as expected. Apple also forecast stronger than expected revenue for the current quarter.


The global downward trend of soda consumption has negatively impacted Coca-Cola. Second quarter soda sales by volume slipped 1% while revenue fell 5%. Weakness in China and Argentina also contributed to the revenue shortfall. The world's largest soda maker lowered its full year sales forecast.


The challenge to grow its revenue and user base continues to plague Twitter. The microblogging site boasts 313 million users but has failed to monetize those eyeballs. Second quarter revenue fell short of expectations and the company's third quarter guidance missed analyst estimates by a wide margin.


In the broad market, declining issues outpaced advancers by a margin of more than 7 to 5 on the NYSE while advancers edged out decliners by more than 10 to 9 on Nasdaq. The broader S&P 500 lost 4 points to 2,164. Bitcoin edged up to $652. 

An uptick in pending home sales lifted the markets to a higher open with the Dow rising 10 points to 18,484. Nasdaq climbed 26 points to 5,136. 


On the upside


Medigus (Nasdaq: MDGS) received an initial purchase order for the Medigus Ultrasonic Surgical Endostapler system.


Unisys (NYSE: UIS) reversed year ago losses to post a profit for the second quarter.


U.S. Steel (NYSE: X) narrowed second quarter losses more than expected.


On the downside


Akamai Technologies (Nasdaq: AKAM) reported higher second quarter earnings and revenue but the company forecast current quarter results below estimates prompting a downgrade.


Twitter (NYSE: TWTR) reported a loss for the second quarter and forecast current quarter results that fell short of expectations prompting downgrades.


Globus Medical (NYSE: GMED) reported higher second quarter earnings and revenue and announced that will acquire the international operations of Alphatec Holdings for $80 million in cash.


In the broad market, advancing issues outpaced decliners by a margin of nearly 3 to 2 on the NYSE and by more than 5 to 3 on Nasdaq. The broader S&P 500 slipped 3 points to 2,165. Bitcoin eased to $651.

Mixed close over earnings

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It was a mixed close for the markets with the Dow slipping 19 points to 18,473 while Nasdaq rose 12 points to 5,110 as investors digested earnings news. 


On the upside


Shares of Clean Diesel Technologies (Nasdaq: CDTI) rebounded after beginning to trade yesterday on a 1-for-5 reverse stock split basis.


Analog Devices will pay approximately $14.8 billion in cash and stock to acquire Linear Technology (Nasdaq: LLTC).


Allegheny Technologies (NYSE: ATI) reported a smaller than expected loss for the second quarter.


On the downside


Cardiome Pharma (Nasdaq: CRME) priced its public offering of 10 million common shares at the discounted price of $3.00 per share.


Seadrill Partners (NYSE: SDLP) will slash its quarterly cash dividend.


Dr. Reddy's Laboratories (NYSE: RDY) disappointed with lower first quarter earnings and revenue.


In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 3 on both the NYSE and on Nasdaq. The broader S&P 500 held steady at 2,169. Bitcoin lost $3 to $648.

The markets traded mixed during the midday with the Dow losing 37 points to 18,455. Nasdaq rose 7 points to 5,105. 


As part of its strategy to distinguish itself in a saturated smartphone market, BlackBerry imbedded encryption capabilities into its latest handset. The company dubbed it's latest product the world's most secure smartphone. The DTEK50 software will encrypt all data on the phone including photos and videos and will install security updates as soon as they are released.


Human resources software startup Zenefits will pay the Tennessee Department of Commerce and Insurance $62,500 to settle charges that company employees sold insurance without appropriate licenses. The controversy had forced founder and chief executive officer Parker Conrad to resign in February. California, Massachusetts and Washington are also investigating Zenefits.


Amazon will begin testing and developing its Prime Air drone delivery system in the UK. UK regulators will allow Amazon to fly drones beyond the pilot's line of vision and to test proximity censors that will aid the drone in avoiding collisions. Prime Air will deliver packages up to 5 pounds within 30 minutes of completing an order.


In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 3 on the NYSE and nearly 5 to 3 on Nasdaq. The broader S&P 500 slipped a point to 2,167. Bitcoin lost $2 to $649.

Mixed open as crude oil slips

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The markets opened mixed with the Dow losing 22 points to 18,470 as home prices rose while crude oil prices slipped. Nasdaq gained 17 points to 5,114. 


On the upside


Alimera Sciences (Nasdaq: ALIM) reported sharply higher preliminary second quarter revenue.


Exact Sciences (Nasdaq: EXAS) reported a smaller than expected loss for the second quarter.


Shares of Eleven Biotherapeutics (Nasdaq: EBIO) advanced for the third day.


On the downside


Centene (NYSE: CNC) reported sharply higher second quarter earnings that beat expectations and lifted its full year earnings outlook but the stock price tumbled after the company said that it would not participate in the bidding for potential divestitures from Aetna's proposed acquisition of Humana.


Mobileye's (NYSE: MBLY) partnership with Tesla (Nasdaq: TSLA) will end after the third quarter.


Tokai Pharmaceuticals (Nasdaq: TKAI) will discontinue a late-stage study of its prostate cancer treatment.


In the broad market, advancing issues outpaced decliners by a margin of more than 2 to 1 on both the NYSE and on Nasdaq. The broader S&P 500 added a point to 2,170. Bitcoin lost $3 to $648.

Lower close as crude oil falls

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The markets closed lower with the Dow dropping 77 points to 18,493 as crude oil prices fell to $43.05 per barrel. Nasdaq slipped 2 points to 5,097. 


On the upside


Shares of China Ceramics (Nasdaq: CCCL) surged on no news.


Needham & Co. upgraded NeoPhotonics (NYSE: NPTN) from a Buy rating to a Strong Buy rating.


Shares of Advanced Micro Devices (Nasdaq: AMD) climbed for the second day.


On the downside


Investors locked in profits on Technical Communications (Nasdaq: TCCO).


The Food and Drug Administration rejected Ocular Therapeutics' (Nasdaq: OCUL) Dextenza post-operative eye pain treatment.


Opus Bank (Nasdaq: OPB) reported lower second quarter earnings.


In the broad market, declining issues outpaced advancers by a margin of more than 5 to 3 on the NYSE and by nearly 7 to 5 on Nasdaq. The broader S&P 500 lost 6 points to 2,168. Bitcoin fell $6 to $651.

The markets traded lower during the midday with the Dow plunging 97 points to 18,473 as crude oil and commodities slipped. Nasdaq fell 6 points to 5,093. 


Verizon will pay approximately $4.83 billion in cash to acquire the core internet business of Yahoo. The deal will merge the Yahoo assets into Verizon's AOL unit, which was purchased for $4.4 billion last year. Yahoo will retain ownership of its holdings in Alibaba and Yahoo, rename itself and become a publicly traded investment company.


AMC Entertainment sweetened its offer to acquire Carmike Cinemas. The nation's second largest movie theater chain increased its offer by 10.2% in order to entice Carmike shareholders to approve the deal that will create the nation's largest theater chain. The cash and stock deal is valued at approximately $1.2 billion.


With DVD rentals falling, Redbox parent Outerwall agreed to be taken private by Apollo Global Management. Outerwall acquired DVD rental kiosk company Redbox in 2009 and also owns Coinstar and ecoATM. The shift from DVD rentals to streaming services resulted in a 19% drop in Redbox's revenue for the first quarter.


In the broad market, declining issues outpaced advancers by a margin of 5 to 3 on the NYSE and by more than 9 to 7 on Nasdaq. The broader S&P 500 fell 9 points to 2,166. Bitcoin fell $6 to $651.

Lower open on Yahoo deal

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The markets opened lower with the Dow tumbling 90 points to 18,480 as Verizon paid a lower than expected price for Yahoo. Nasdaq lost 10 points to 5,090. 


On the upside


Funds managed by Apollo Global Management will take Outerwall (Nasdaq: OUTR) private in a deal valued at approximately $1.6 billion including the assumption to debt.


Sprint (NYSE: S) reported better than expected revenue for the first quarter as the company added subscribers.


Trade Calls noted that Sophiris Bio (Nasdaq: SPHS) outperformed the S&P 500 by 120.58% over the past month.


On the downside


Santander Consumer USA Holdings (NYSE: SC) will delay the release of its second quarter results.


Tobira Therapeutics (Nasdaq: TBRA) reported disappointing results from a Phase 2b clinical trial of cenicriviroc to treat liver disease.


Verizon (NYSE: VZ) will pay approximately $4.83 billion in cash to acquire the core business of Yahoo (Nasdaq: YHOO).


In the broad market, declining issues outpaced advancers by a margin of more than 9 to 7 on the NYSE and by 10 to 9 on Nasdaq. The broader S&P 500 fell 9 points to 2,165. Bitcoin tumbled $9 to $649.

Higher close on M&A

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


On the upside


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


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


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


On the downside


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


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


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


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

Tech deals make headlines

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


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


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


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


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

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


On the upside


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


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


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


On the downside


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


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


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


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

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


On the upside


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


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


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


On the downside


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


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


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


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

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


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


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


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


In the broad market, declining issues outpaced advancers by a margin of more than 3 to 2 on the NYSE and by more than 5 to 3 on Nasdaq. The broader S&P 500 fell 10 points to 2,162. Bitcoin added $1 to $661.

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


On the upside


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


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


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


On the downside


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


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


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


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

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


On the upside


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


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


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


On the downside


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


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


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


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

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


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


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


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


In the broad market, advancing issues outpaced decliners by a margin of nearly 7 to 3 on both the NYSE and on Nasdaq. The broader S&P 500 climbed 10 points to 2,174. Bitcoin lost $2 to $663.

Higher open on upbeat earnings

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


On the upside


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


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


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


On the downside


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


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


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


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

Mixed close even as wages rise

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


On the upside


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


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


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


On the downside


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


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


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


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

The markets traded mixed during the midday with the Dow rising 18 points to 18,551. Nasdaq fell 21 points to 5,034. 


Augmented reality mobile game Pokemon Go has become a global sensation with players wandering neighborhoods in 35 countries capturing Pokemon. Shares of Nintendo have more than doubled since the immensely popular game launched on July 6. McDonald's will sponsor the launch of Pokemon Go in Japan and is working on an official partnership deal.


21st Century Fox co-chairman Rupert Murdoch, co-chair Lachlan Murdoch and chief executive James Murdoch are expected to remove Roger Ailes from Fox News in the wake of a sexual harassment and retaliation lawsuit filed against the cable news network's co-founder. Law firm Paul, Weiss, Rifkind, Wharton & Garrison has been hired to investigate the allegations. While some Fox News anchors have publicly supported Ailes, sources have said that Megyn Kelly provided investigators with details about unwanted sexual advances that Ailes made towards her ten years ago.


Amazon received a patent for a "multi-use unmanned aerial vehicle docking station system." It appears that Amazon will create a network of drones and docking stations, which will be located on top of light posts or cell towers, to quickly deliver packages to customers. The docking stations could provide weather updates to reroute drones or be used to provide Wi-Fi in public places.


In the broad market, declining issues outpaced advancers by a margin of nearly 3 to 2 on the NYSE and by more than 5 to 3 on Nasdaq. The broader S&P 500 lost 4 points to 2,162. Bitcoin slipped $2 to $663.

The markets opened mixed with the Dow rising 14 points to 18,547 while Nasdaq lost 12 points to 5,043 as crude oil prices slipped. 


On the upside


Hudson Technologies (Nasdaq: HDSN) received a five year $400 million contract to manage and supply refrigerants, compressed gases, cylinders and related items for the Department of Defense.


VMware (NYSE: VMW) reported higher second quarter earnings and revenue that topped analyst estimates.


The Food and Drug Administration granted Fast Track designation to Cerulean Pharma's (Nasdaq: CERU) CRLX101.


On the downside


Super Micro Computer (Nasdaq: SMCI) slashed its fourth quarter forecast.


Netflix (Nasdaq: NFLX) reported disappointingly low subscriber growth in the second quarter that fell far short of expectations.


Investors locked in profits on Ballard Power Systems (Nasdaq: BLDP).


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 3 points to 2,163. Bitcoin rose $2 to $667.

Homebuilder sentiment slipped in July but the markets closed modestly higher with the Dow rising 16 points to 18,533. Nasdaq climbed 26 points to 5,055. 


On the upside


China Xiniya Fashion (NYSE: XNY) majority shareholder Qiming Investment will sell a controlling interest in the company to Perfect Lead International and Hones Plus Investments.


Capital Market Labs wrote that TCP International (NYSE: TCPI) beat Highpower International (Nasdaq: HPJ) on revenue growth, earnings, operating margins, valuation and several additional measurements.


Shares of body camera maker Digital Ally (Nasdaq: DGLY) climbed after the killing of 3 police officers in Baton Rouge on Sunday.


On the downside


Investors locked in profits on SkyPeople Fruit Juice (Nasdaq: SPU).


Profit taking weighed down shares of Ocean Power Technologies (Nasdaq: OPTT).


Brainstorm Cell Therapeutics (Nasdaq: BCLI) reported positive results from a Phase II study of its Lou Gehrig's disease treatment NurOwn but the stock price fell.


In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 3 on the NYSE and by nearly 5 to 4 on Nasdaq. The broader S&P 500 rose 5 points to 2,166. Bitcoin fell $5 to $666.

The markets traded modestly higher during the midday with the Dow rising 12 points to 18,528 even as crude oil price slipped. Nasdaq climbed 28 points to 5,058. 


Baton Rouge police officers were ambushed on Sunday by a lone gunman who killed three officers and wounded three. As fears of violence spread across the nation, gun purchases rose. Shares of Smith & Wesson and Sturm, Ruger & Co. both climbed.


The recent shootings of black men by police officers has sparked renewed calls for officers to wear body cameras and use nonlethal weapons. Shares of Digital Ally have surged more than 50% since cellphone videos surfaced of Alton Sterling's shooting in Baton Rouge. TASER International, which makes stun guns and wearable cameras, has climbed nearly 12%.


Security concerns at the Republican National Convention, which began today, extend beyond potential physical attacks. Hackers have already attempted to disrupt the convention. Organizers are monitoring all activity on the convention network with Microsoft and ForeScout software and are using AT&T and Cisco to secure external access to its network.


In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 3 on the NYSE and by more than 9 to 7 on Nasdaq. The broader S&P 500 gained 5 points to 2,166. Bitcoin fell $6 to $665.


The markets opened higher with the Dow rising 24 points to 18,541 as Turkish president Recep Tayyip Erdogan restored order after an attempted military coup last week. Nasdaq gained 25 points to 5,055. 


On the upside


Softbank will acquire ARM Holdings (Nasdaq: ARMH) for a premium of approximately $32 billion.


ParkerVision (Nasdaq: PRKR) entered a settlement and patent license agreement with Samsung Electronics.


Ballard Power Systems (Nasdaq: BLDP) entered a joint venture with Synergy in which Ballard will have exclusive rights to purchase fuel cell stacks and subcomponents to sell outside of China.


On the downside


Evoke Pharma (Nasdaq: EVOK) reported disappointing results from a Phase 3 study of its diabetic gastroparesis treatment.


Ferro (NYSE: FOE) will host a conference call on Thursday, July 28 to discuss financial results.


Piper Jaffray downgraded Stratasys (Nasdaq: SSYS) from an Overweight rating to a Neutral rating.


In the broad market, advancing issues outpaced decliners by a margin of 5 to 3 on the NYSE and by more than 7 to 5 on Nasdaq. The broader S&P 500 rose 3 points to 2,165. Bitcoin lost $3 to $668.

The markets closed mixed with the Dow rising 10 points to 18,516 as the Turkish military attempted a coup. Nasdaq slipped 4 points to 5,029. 


On the upside


Trade-Ideas has identified SkyPeople Fruit Juice (Nasdaq: SPU) as a Strong on High Relative Volume stock.


Shares of ZAIS Group Holdings (Nasdaq: ZAIS) surged on high volume but no news.


Iteris (Nasdaq: ITI) reported preliminary first quarter revenue that topped expectations.


On the downside


Shares of Brainstorm Cell Therapeutics (Nasdaq: BCLI) tumbled ahead of its announcement on Monday of Phase II ALS trial results.


Fairmount Santrol (NYSE: FMSA) warned of greater than expected losses for the second quarter.


Shares of Fossil Group (Nasdaq: FOSL) fell after rival Swatch Group warned of a weak watch market in the US.


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 2 points to 2,161. Bitcoin rose $5 to $659.

The markets traded flat during the midday with the Dow easing a point to 18,505. Nasdaq lost 8 points to 5,025. 


Tragedy struck Nice, France when a truck was driven into crowds celebrating Bastille Day on Thursday night killing 84 people. The latest in a series of terrorist attacks around the world has raised concerns about tourism and the travel industry. Shares of online trip planning sites Expedia, TripAdvisor and Priceline have all slipped.


Airlines stocks, which have already been buffeted by global turmoil, turned negative again. The Brexit vote last month sparked a steep sell-off of domestic and international carriers while previous terrorist attacks sent stock prices tumbling. Shares of American Airlines, JetBlue Airways, Southwest Airlines and Delta Air Lines dropped.


The Brexit vote and terrorist attacks have impacted hotel stocks as well. The stock prices of Marriott International, Starwood Hotels & Resorts and Wyndham Worldwide fell.


In the broad market, advancing issues barely edged out decliners by a slim margin on both the NYSE and on Nasdaq. The broader S&P 500 lost 4 points to 2,159. Bitcoin rose $4 to $657.

Mixed open after Nice tragedy

|

The markets opened mixed with the Dow adding 26 points to 18,532 after a truck killed 84 people in a suspected terrorist attack in Nice, France. Nasdaq eased a point to 5,032. 


On the upside


Shares of Ocean Power Technologies (Nasdaq: OPTT) surged for the second day.


The Federal Trade Commission has determined that Herbalife (NYSE: HLF) is not a pyramid scheme but the dietary supplement company must pay a $200 million settlement.


Alere (NYSE: ALR) expects to file its delayed 2015 annual report as soon as practicable along with revised statements for 2013 and 2014.


On the downside


A patient enrolled in Ziopharm Oncology's (Nasdaq: ZIOP) study of its experimental gene therapy to treat brain cancer has died.


First quarter earnings for Infosys (NYSE: INFY) fell short of expectations prompting the company to cut its full year revenue forecast.


Xerox (NYSE: XRX) rejected R.R. Donnelley & Sons' (Nasdaq: RRD) acquisition offer.


In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 4 on the NYSE and by nearly 9 to 7 on Nasdaq. The broader S&P 500 edged up a fraction to 2,164. Bitcoin added $2 to $657.

The markets soared to close sharply higher with the Dow leaping 134 points to 18,506 on Goldman Sachs' expectation that the oil industry could add up to 100,000 jobs over the next two years. Nasdaq rose 28 points to 5,034. 


On the upside


Harsco (NYSE: HSC) reported preliminary second quarter revenue that surpassed previous guidance by a wide margin and lifted its full year forecast.


Zacks Equity Research identified Ceragon Networks (Nasdaq: CRNT) as one of five low priced breakout stocks.


Shares of Line (NYSE: LN) surged in its market debut.


On the downside


The European Society of Medical Oncology said that results from a Phase III study of XBiotech's (Nasdaq: XBIT) colon cancer treatment Xylonix were unreliable.


Shares of Bonanza Creek Energy (NYSE: BCEI) extended its losses.


Profit taking weighed down shares of Vuzix (Nasdaq: VUZI).


In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 4 on the NYSE and by more than 10 to 9 on Nasdaq. The broader S&P 500 gained 11 points to 2,163. Bitcoin eased $1 to $653.

The markets traded higher with the Dow surging 147 points to 18,519 as crude oil prices rose. Nasdaq gained 31 points to 5,036. 


After two recent accidents of the Tesla Model S in Autopilot mode, Consumer Reports wrote that Tesla should disable the automatic steering feature until safety upgrades are made. The Tesla owner's manual does recommend that drivers keep their hands on the steering wheel at all times but there are no sensors to determine whether or not a driver has removed their hands.


Japanese messaging app Line debuted on the New York Stock Exchange at $42.00, 30% above its IPO price of $32.84. Line is the fifth tech company to go public this year and the largest technology IPO of 2016. The company raised $1.3 billion.


Goldman Sachs expects American oil companies to increase oil production next year. An estimated 700 oil rigs will need to be brought online to meet production goals. To support the rigs, approximately 100,000 job will be created. 


In the broad market, declining issues outpaced advancers by a margin of nearly 3 to 2 on the NYSE and by more than 5 to 4 on Nasdaq. The broader S&P 500 climbed 12 points to 2,165. Bitcoin held steady at $655.

The markets opened sharply higher with the Dow soaring 156 points to 18,528 as producer prices rose 0.5% in June. Nasdaq gained 37 points to 5,043. 


On the upside


Infineon Technologies will pay approximately $850 million to buy Cree's (Nasdaq: CREE) Wolfspeed Power unit.


Bargain hunters lift shares of SemiLEDs (Nasdaq: LEDS).


Shares of Skypeople Fruit Juice (Nasdaq: SPU) surged on no news.


On the downside


Robert W. Baird downgraded Brocade Communications Systems (Nasdaq: BRCD) to an Underperform rating and cut its price target to $8.


Investors continued to lock in profits on Sage Therapeutics (Nasdaq: SAGE).


Shares of Rennova Health (Nasdaq: RNVA) extended its losses.


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 climbed 14 points to 2,167. Bitcoin eased $1 to $653.

The markets closed mixed with the Dow rising 24 points to 18,372 as European stocks slipped. Nasdaq fell 17 points to 5,005. 


On the upside


Evolent Health (NYSE: EVH) will pay approximately $145 million to acquire Valence Health.


TheStreet named Marinus Pharmaceuticals (Nasdaq: MRNS) as one of seven stocks under $10 poised to breakout.


Shares of Vuzix (Nasdaq: VUZI) climbed for the fourth day.


On the downside


Avinger (Nasdaq: AVGR) reported preliminary second quarter revenue that fell short of expectations prompting the company to lower its full year revenue.


Bonanza Creek Energy (NYSE: BCEI) retained the services of Perella Weinberg Partners to explore restructuring options.


SemiLEDs (Nasdaq: LEDS) widened third quarter losses as revenue fell.


In the broad market, declining issues outpaced advancers by a margin of more than 10 to 9 on the NYSE and by more than 7 to 5 on Nasdaq. The broader S&P 500 held steady at 2,152. Bitcoin eased to $655.

The markets opened flat with the Dow adding 4 points to 18,352 as preliminary reports indicated that Amazon's Prime Day sales were flat in the US. Nasdaq rose 5 points to 5,028. 


On the upside


The Food and Drug Administration removed a clinical hold on Juno Therapeutics' (Nasdaq: JUNO) Phase 2 study of JCAR015 to treat leukemia.


Thoma Bravo will pay a premium of approximately $544 million in cash to acquire Imprivata (NYSE: IMPR).


Coatue Management purchased 625,000 shares of Twilio (NYSE: TWLO).


On the downside


The Michaels Companies (Nasdaq: MIK) announced a secondary offering of 11 million shares and said that second quarter earnings would be in the low to mid range of its previous guidance.


Diamondback Energy (Nasdaq: FANG) will pay $560 million to acquire assets in Texas.


Shares of Resolute Energy (NYSE: REN) fell as crude oil prices slipped.


In the broad market, advancing issues outpaced decliners by a margin of more than 10 to 9 on both the NYSE and on Nasdaq. The broader S&P 500 held steady at 2,152. Bitcoin fell $9 to $654.

The markets closed sharply higher with the Dow soaring 120 points to 18,347 on JPMorgan Chase's announcement that it would increase wages for 18,000 of its lowest paid employees. Nasdaq climbed 34 points to 5,022. 


On the upside


Rising crude oil prices lifted shares of Bonanza Creek Energy (NYSE: BCEI), Denbury Resources (NYSE: DNR) and Stone Energy (NYSE: SGY).


Baupost Group acquired an 18.5% stake in Cascadian Therapeutics (Nasdaq: CASC).


Shutterstock (NYSE: SSTK) announced an image licensing deal with Google (Nasdaq: GOOG).


On the downside


Retreating gold prices weighed down shares of Barrick Gold (NYSE: ABX) and McEwen Mining (NYSE: MUX).


Shares of Amazon (NYSE: AMZN) fell on muted enthusiasm for its Prime Day global sales event.


Shares of Endeavour Silver (NYSE: EXK) and First Majestic Silver (NYSE: AG) fell as silver prices slipped.


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 climbed 14 points to 2,152. Bitcoin gained $16 to $661.

Higher open as oil climbs

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The markets opened higher with the Dow climbing 64 points to 18,291 as crude oil prices rose. Nasdaq gained 25 points to 5,014. 


On the upside


Sage Therapeutics (Nasdaq: SAGE) reported positive results from a Phase 2 clinical trial of SAGE-547 to treat severe postpartum depression.


Seagate Technology (Nasdaq: STX) reported preliminary fourth quarter revenue that surpassed expectations and announced additional job cuts.


BioDelivery Systems' (Nasdaq: BDSI) opioid dependency treatment BUNOVAIL received preferred formulary status by a significant managed care provider.


On the downside


CytRx (Nasdaq: CYTR) reported disappointing initial results from a Phase 3 trial of aldoxorubicin to treat patients with relapsed or refractory soft tissue sarcomas.


Profit taking weighed down shares of Resolute Energy (NYSE: REN).


Investors locked in profits on BioLife Solutions (Nasdaq: BLFS).


In the broad market, advancing issues outpaced decliners by a margin of nearly 7 to 2 on both the NYSE and on Nasdaq. The broader S&P 500 gained 10 points to 2,147. Bitcoin added $1 to $645.

S&P closes at record 2137.16

|

The momentum from last week's strong jobs report lifted the markets to a higher close with the Dow climbing 80 points to 18,226 while S&P 500 closed at a record high of 2,137. Nasdaq gained 31 points to 4,988. 


On the upside


Wunderlich upgraded Resolute Energy (NYSE: REN) from a Hold rating to a Buy rating while Northland Capital upgraded the company from a Market Perform rating to an Outperform rating.


Bargain hunters snapped up shares of XBiotech (Nasdaq: XBIT).


Rumors circulated that GoPro (Nasdaq: GPRO) would introduce a new GoPro Hero 5 along with the company's long delayed drone.


On the downside


Shares of ImmunoGen (Nasdaq: IMGN) fell for the third day.


Retreating crude oil prices weighed down shares of Basic Energy Services (NYSE: BAS).


Avnet (NYSE: AVT) chief executive Rick Hamada resigned and has been replaced by interim CEO William J. Amelio. The company also lowered its fourth quarter forecast.


In the broad market, advancing issues outpaced decliners by a margin of more than 2 to 1 on the NYSE and by 2 to 1 on Nasdaq. The broader S&P 500 gained 7 points to 2,137. Bitcoin rose $4 to $645.

The markets advanced during the midday with the Dow soaring 121 points to 18,268. Nasdaq climbed 39 points to 4,996. 


Amazon's second Prime Day sale begins tonight at midnight Pacific Time. The 24-hour global shopping event with over 100,000 deals is available exclusively for Prime members. Last year's inaugural sale boasted 34.4 million items sold worldwide.


To compete with Amazon, Walmart announced free shipping from July 11 - 15 on all online orders with no minimum purchase. The world's largest retailer boasted that it's offer is available to all consumers, not just those paying membership fees. Amazon's Prime Day deals are only available for Amazon Prime members.


Other retailers are offering deals this week as well. Target is selling home items for up to 25% off. The Limited is slashing 50% off prices on new arrivals. The Gap launched its Great Gap Sale.


In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 2 on both the NYSE and on Nasdaq. The broader S&P 500 climbed 10 points to 2,140. Bitcoin rose $3 to $644.

Investors welcomed a strong election victory by Japan's ruling party by lifting the markets to a sharply higher open with the Dow climbing 90 points to 18,236. Nasdaq gained 32 points to 4,989. 


On the upside


Sagent Pharmaceuticals (Nasdaq: SGNT) will be acquired by Nichi-Iko Pharmaceutical for a premium of approximately $736 million in cash.


BioLife Solutions (Nasdaq: BLFS) entered a ten-year agreement to supply Kite Pharma with CryoStor clinical grade freeze media for cells and tissues.


Kratos Defense & Security Solutions (Nasdaq: KTOS) received a $40.8 million contract to design, develop, deliver, demonstrate and test a technical baseline for a high-speed, long-range, low-cost, limited life-strike Unmanned Aerial Ssytem.


On the downside


Profit taking weighed down shares of Stamps.com (Nasdaq: STMP).


Investors locked in profits on Digital Ally (Nasdaq: DGLY).


Leidos (Nasdaq: LDOS) won a contract to provide technical solutions for the Electromagnetic Maneuver Warfare Command and Control program of the Office of Naval Research but the stock price fell as investors locked in profits.


In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 2 on the NYSE and by more than 2 to 1 on Nasdaq. The broader S&P 500 gained 7 points to 2,137. Bitcoin rose $3 to $643.

Impressive jobs data along with recovering crude oil prices sent the markets soaring to a sharply higher close with the Dow rocketing 250 points to 18,146. Nasdaq jumped 79 points to 4,956. 


On the upside


Barracuda Network (NYSE: CUDA) reversed year ago losses to post a profit for the first quarter as revenue rose.


Shares of Chemours (NYSE: CC) rose after a jury ordered DuPont to pay a lower than expected $500,000 in punitive damages to a plaintiff on top of a $5.1 million award in a chemical liability case.


Euro Tech Holdings (Nasdaq: CLWT) subsidiary PACT Environmental Technology won a contract valued at approximately $6 million to design, supply, install and commission industrial wastewater treatment and scrubber systems.


On the downside


Profit taking weighed down shares of xG Technology (Nasdaq: XGTI).


Great Basin Scientific (Nasdaq: GBSN) issued approximately 2.755 million shares of common stock to note holders who converted their holdings.


Investors continued to lock in profits on Torchlight Energy Resources (Nasdaq: TRCH).


In the broad market, advancing issues outpaced decliners by a margin of more than 7 to 1 on the NYSE and by nearly 5 to 1 on Nasdaq. The broader S&P 500 leaped 32 point to 2,129. Bitcoin soared $28 to $650.

Gun maker stocks soar

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Strong jobs data sent the markets soaring during the midday with the Dow leaping 193 points to 18,089. Nasdaq jumped 67 points to 4,944. 


Gun stocks soared after five police officers were killed in Dallas last night during a protest march for peace. Protestors had gathered to speak against two officer-involved shootings that killed Alton Sterling and Philando Castile. About two hours into the protest, shots were fired.


Shares of wearable camera makers advanced as well. Digital Ally stock surged more than 50% in morning trading. Taser, which makes stun guns as well as body-worn cameras, also climbed as investors anticipate an increase in contracts with police departments nationwide.


In economic news, the nation's economy added 287,000 jobs last months, well above the 180,000 that was expected. Despite the sharp gain in jobs, the unemployment rate edged up to 4.9% from 4.7% in May as more people entered the workforce. Average hourly earnings rose 2.6% from year ago levels.


In the broad market, advancing issues outpaced decliners by a margin of nearly 8 to 1 on the NYSE and by more than 5 to 1 on Nasdaq. The broader S&P 500 soared 25 points to 2,123. Bitcoin leaped $24 to $645.

The markets opened sharply higher with the Dow soaring 163 points to 18,059 as the nation added an impressive 287,000 jobs in June. Nasdaq leaped 50 points to 4,927. 


On the upside


Shares of wearable camera maker Digital Ally (Nasdaq: DGLY) rose after five Dallas police officers were killed.


Eleven Biotherapeutics (Nasdaq: EBIO) will receive a $22.5 million milestone payment from F. Hoffmann-La Roche and Hoffman-La Roche after the company's Investigational New Drug application for EBI-031 became effective.


Polycom (Nasdaq: PLCM) terminated its merger agreement with Mitel Networks (Nasdaq: MITL) in order to be acquired by private equity firm Siris Capital.


On the downside


The Food and Drug Administration placed a clinical hold on Juno Therapeutics' (Nasdaq: JUNO) Phase II study of the leukemia treatment JCAR015.


Kite Pharma (Nasdaq: KITE) completed enrollment of all patients in the Phase 2 study of ZUMA-1.


Investors locked in profits on SemiLEDs (Nasdaq: LEDS).


In the broad market, advancing issues outpaced decliners by a margin of more than 7 to 1 on the NYSE and by more than 4 to 1 on Nasdaq. The broader S&P 500 climbed 20 point to 2,118. Bitcoin soared $21 to $642.

The markets closed mixed with the Dow slipping 22 points to 17,895 as falling crude oil prices tempered enthusiasm for a drop in jobless claims. Nasdaq rose 17 points to 4,876. 


On the upside


Cobalt International Energy (NYSE: CIE) named David D. Powell to the position of chief financial officer and executive vice president.


The Centers for Medicare & Medicaid Services proposed a Medicare hospital outpatient rate of $150,000 for Second Sight Medical Products' (Nasdaq: EYES) Argus II.


EZCORP (Nasdaq: EZPW) will sell Prestaciones Finmart to Alpha Holdings for approximately $50 million.


On the downside


The Justice Department will meet with representatives from Humana (NYSE: HUM) and Aetna (NYSE: AET) to discuss their planned merger.


UBS downgraded Depomed (Nasdaq: DEPO) from a Buy rating to a Neutral rating.


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


In the broad market, advancing issues outpaced decliners by a margin of more than 10 to 9 on the NYSE and by more than 9 to 7 on Nasdaq. The broader S&P 500 slipped a point to 2,097. Bitcoin plummeted $56 to $611.

The markets retreated during the midday with the Dow tumbling 91 points to 17,826 as crude oil prices fell below $46 per barrel. Nasdaq slipped 2 points to 4,856. 


Technology companies are making headlines in several high profile cases. Diamond Reynolds live streamed on Facebook the immediate aftermath of the officer-involved shooting of her boyfriend, Philando Castile. Facebook is also being investigated by the IRS over its transfer of property in 2010 to an Ireland subsidiary.


While Tesla is an electric car maker, its vehicles are outfitted with the latest technological advancements. Tesla released its Autopilot mode last October.  Two recent accidents have been attributed to Autopilot, one involving a fatal crash. The family of Joshua Brown may have grounds for suing Tesla for negligence and defective product design.


Privately owned anti-virus maker Avast Software has offered to acquire rival AVG Technologies for a premium of approximately $1.3 billion in cash. The acquisition will give Avast access to over 400 million devices using Avast and AVG software.


In the broad market, advancing issues were on par with decliners on both the NYSE and on Nasdaq. The broader S&P 500 lost 6 points to 2,093. Bitcoin plummeted $53 to $613.

A greater than expected drop in first time applications for unemployment benefits lifted the markets to a higher open with the Dow gaining 45 points to 17,963. Nasdaq climbed 23 points to 4,882. 


On the upside


Danone will pay a premium of approximately $10.4 billion in cash to acquire WhiteWave (NYSE: WWAV).


AVG Technologies (NYSE: AVG) will be acquired by Avast Software for a premium of approximately $1.3 billion in cash.


Dr. Peter Chiou will buy 577,000 shares of SemiLEDs (Nasdaq: LEDS) common stock and $1,615,000 in convertible notes.


On the downside


Investors locked in profits on Torchlight Energy Resources (Nasdaq: TRCH).


Deutsche Bank downgraded First Solar (Nasdaq: FSLR) from a Buy rating to a Hold rating.


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


In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 2 on both the NYSE and on Nasdaq. The broader S&P 500 gained 7 points to 2,106. Bitcoin plunged $32 to $635.

Rates to remain steady

|

Minutes from the Federal Reserve's meeting in June indicated that interest rates would not be raised until the impact of the Brexit vote is known. The markets closed higher with the Dow climbing 78 points to 17,918. Nasdaq gained 36 points to 4,859. 


On the upside


The Fly reported that Walgreens Boots Aliance (Nasdaq: WBA) was satisfied with its relationship with Valeant Pharmaceuticals (NYSE: VRX).


Rising gold prices lifted shares of Barrick Gold (NYSE: ABX).


Twilio (NYSE: TWLO) extended its collaboration with Amazon Web Services (Nasdaq: AMZN).


On the downside


Shares of XBiotech (Nasdaq: XBIT) plunged for the second day.


Chemours (NYSE: CC) will release second quarter results after market close on August 8, 2016.


Greenbrier (NYSE: GBX) reported lower third quarter earnings and revenue as railcar deliveries fell.


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 climbed 11 points to 2,099. Bitcoin rose $4 to $666.

The markets recovered during the midday with the Dow gaining 50 points to 17,891 as crude oil prices advanced. Nasdaq climbed 30 points to 4,853. 


Nearly two weeks after the Brexit vote, the value of the British pound continued to fall dropping to its lowest level in 31 years. Today's decline was caused by the suspension of withdrawals from real estate investment funds by three large asset management firms yesterday. With no Brexit plan in place, the pound is expected to fall even further.


Despite the recent Brexit induced global market turmoil, the U.S. service sector expanded in June. The Institute for Supply Management's nonmanufacturing purchasing manager's index rose more than expected to 56.5 last month with new orders climbing to 59.9. The increase in service sector activity indicates that the nation's economy is slowly strengthening.


Investors around the world are pouring their resources into safe haven investments. Gold prices have risen for the fifth day in a row. The yield on the U.S. 10-year government bond has fallen to a record low of 1.36% on strong demand. 


In the broad market, advancing issues outpaced decliners by a margin of nearly 3 to 2 on the NYSE and by more than 5 to 3 on Nasdaq. The broader S&P 500 gained 7 points to 2,095. Bitcoin added $1 to $663.

The pound dropped again to fall to a three decade low sending the markets tumbling to a sharply lower open with the Dow plunging 102 points to 17,738. Nasdaq lost 15 points to 4,807. 


On the upside


Forward Industries (Nasdaq: FORD) extended a supply agreement with a Global Healthcare provider.

 

Rising gold prices lifted shares of Harmony Gold (NYSE: HMY). 


Melrose Industries will pay a premium of approximately $2.8 billion to acquire Nortek (Nasdaq: NTK).


On the downside


JPMorgan said that Lloyds Banking Group (NYSE: LYG) and Royal Bank of Scotland (NYSE: RBS) are the two UK banks with the most exposure to commercial real estate market.


Credit Suisse downgraded United Continental (NYSE: UAL) from an Outperform rating to a Neutral rating and slashed its price target from $64 to $42.

 

GlobeImmune (Nasdaq: GBIM) will delist from Nasdaq.


In the broad market, declining issues outpaced advancers by a margin of more than 2 to 1 on the NYSE and by nearly 5 to 3 on Nasdaq. The broader S&P 500 lost 8 points to 2,080. Bitcoin added $1 to $662.

Crude oil prices dropped to send the markets tumbling to a sharply lower close with the Dow plummeting 108 points to 17,840. Nasdaq fell 39 points to 4,822. 


On the upside


Bargain hunters lifted shares of Lipocine (Nasdaq: LPCN).

 

A major regional retailer selected Orion Energy Systems (Nasdaq: OESX) to supply LED retrofit lighting systems to their facilities. 


Rising gold prices lifted shares of McEwen Mining (NYSE: MUX).


On the downside


XBiotech (Nasdaq: XBIT) reported disappointing results from a Phase 3 study of Xilonix to treat advanced colorectal cancer.


Eclipse Resources (NYSE: ECR) completed its public offering of 37.5 million shares of common stock.

 

Vuzix (Nasdaq: VUZI) partnered with International Drone Racing Association to provide iWear Video Headphones for select events but the stock price tumbled.


In the broad market, declining issues outpaced advancers by a margin of more than 5 to 2 on both the NYSE and on Nasdaq. The broader S&P 500 tumbled 14 points to 2,088. Bitcoin dropped $8 to $660.

The markets extended its losses during the midday with the Dow plummeting 155 points to 17,794. Nasdaq plunged 64 points to 4,797. 


The impact of the unexpected Brexit vote last month that sparked a global financial market meltdown continued to be felt around the world. Turmoil roiled the real estate market in the U.K. as investors withdrew funds from commercial property. Several asset management firms were forced to suspend trading in real estate investment funds citing lack of liquidity.


Citi analyst Jim Suva blamed Brexit for lowering his earnings forecast for Apple. The replacement cycle for iPhones has increased while Brexit related uncertainty has lowered demand. Apple's earnings will also be hit by currency volatility.


Theresa May claimed the victory in the first round of voting for leadership of the Conservative Party while Liam Fox was eliminated. The next round of voting is scheduled for Thursday. A new leader will be chosen from two finalists in September. 


In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 2 on the NYSE and by more than 3 to 1 on Nasdaq. The broader S&P 500 tumbled 18 points to 2,084. Bitcoin lost $4 to $664.

Lower open as crude oil drops

|

The markets opened sharply lower with the Dow plunging 108 points to 17,840 as crude oil prices dropped. Nasdaq tumbled 42 points to 4,820. 


On the upside


The Food and Drug Administration approved Insys' (Nasdaq: INSY) orally administered cannabis-based Syndros.

 

Leading Brands (Nasdaq: LBIX) entered an agreement to supply HappyWater to a significant customer in China. 


Himax Technologies (Nasdaq: HIMX) announced that chief technology officer Chih-Chung Tsai has retired from his position and is not the vice chairman of company subsidiary Himax Technology Ltd.


On the downside


Amedica (Nasdaq: AMDA) priced its public offering of Class A units and Class B units to raise $11 million.


Profit taking weighed down shares of Harley-Davidson (NYSE: HOG).

 

Whiting Petroleum (NYSE: WLL) completed the exchange of $1.1 billion in convertible notes.


In the broad market, declining issues outpaced advancers by a margin of 7 to 2 on the NYSE and by more than 3 to 1 on Nasdaq. The broader S&P 500 tumbled 15 points to 2,087. Bitcoin lost $5 to $663.

U.S. markets closed

|
U.S. markets are closed for Independence Day.

The markets closed modestly higher with the Dow rising 19 points to 17,949 as crude oil prices rose. Nasdaq gained 19 points to 4,862. 


On the upside


Shares of XBiotech (Nasdaq: XBIT) climbed for the eighth day.

 

Rising natural gas prices lifted shares of Chesapeake Energy (NYSE: CHK) and Freeport-McMoRan (NYSE: FCX). 


Rumors circulated that Harley-Davidson (NYSE: HOG) may be taken private.


On the downside


Investors locked in profits on Great Basin Scientific (Nasdaq: GBSN)


Bank of America/Merrill Lynch downgraded Avery Dennison (NYSE: AVY) from a Buy rating to an Underperform rating.

 

Shares of Caesars Entertainment (Nasdaq: CZR) dropped after nearly 1,000 workers at rival Trump Taj Mahal went on strike.


In the broad market, advancing issues outpaced decliners 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 rose 4 points to 2,102. Bitcoin gained $6 to $664.

The markets traded modestly higher during the midday with the Dow rising 17 points to 17,947 as manufacturing activity expanded more than expected in June. Nasdaq gained 14 points to 4,857. 


Global financial markets collapsed after the unexpected Brexit vote last Thursday but stocks have steadied this week.  The second quarter ended yesterday with the Dow up 1.4% while Nasdaq eased 0.6%.  Year to date, the Dow is up 2.9% while Nasdaq has fallen 3.3%.


Leaders of several banks sought to reassure investors amidst the recent market turmoil. Bank of England governor Mark Carney suggested that additional stimulus measures may be enacted this summer. Jefferies chief executive Richard Handler noted that volatility and historically low interest rates would likely continue for the foreseeable future and advocated for compassionate capitalism to guide decision making processes.


The decision by the United Kingdom to leave the European Union may benefit China and India. With the UK losing access to the EU open market, British companies may seek trade opportunities with Asian countries. China's thriving middle class and India's emerging economy offer much potential. 


In the broad market, advancing issues outpaced decliners by a margin of more than 3 to 2 on the NYSE and by nearly 7 to 5 on Nasdaq. The broader S&P 500 added 3 points to 2,101. Bitcoin gained $9 to $668.

Higher open as crude oil rises

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Crude oil prices rose again to lift the markets to a higher open with the Dow gaining 61 points to close at 17,991. Nasdaq climbed 31 points to 4,873. 


On the upside


Canaccord initiated coverage of Netflix (Nasdaq: NFLX) with a Buy rating and a $120 price target.

 

Aeterna Zentaris (Nasdaq: AEZS) entered an exclusive license agreement for Cyntec to commercialize Zoptrex in Taiwan and nine Southeast Asian countries. 


Valeant  Pharmaceuticals (NYSE: VRX) received upfront and milestone payments from AstraZeneca for the termination of Valeant's right to develop and commercialize brodalumab in Europe.


On the downside


Micron Technology (Nasdaq: MU) fell to a loss for the third quarter and announced plans to cut jobs.


KeyBanc lowered its price target on Lions Gate (NYSE: LGF) from $27 to $24.

 

Himax Technologies (Nasdaq: HIMX) chief technology officer and senior vice president Chih-Chung Tsai retired.


In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 2 on the NYSE and by more than 2 to 1 on Nasdaq. The broader S&P 500 gained 8 points to 2,107. Bitcoin rose $4 to $662.

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