August 2016 Archives

Lower close despite upbeat data

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The markets closed lower despite upbeat housing and payroll data with the Dow losing 53 points to 18,400. Nasdaq fell 9 points to 5,213. 


On the upside


GeoInvesting clarified that its report on SkyPeople Fruit Juice (Nasdaq: SPU) yesterday was not negative.


Chico's FAS (NYSE: FAS) reported higher second quarter earnings that beat analyst expectations.


Matrix Service (Nasdaq: MTRX) reported better than expected earnings for the fourth quarter.


On the downside


Third quarter earnings and revenue climbed for NCI Building Systems (NYSE: NCS) but the company failed to provide specific guidance for the full year.


AeroVironment (Nasdaq: AVAV) widened losses for the first quarter.


Shares of Yirendai (NYSE: YRD) extended its losses.


In the broad market, declining issues outpaced advancers 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 lost 5 points to 2,170. Bitcoin lost $3 to $574.

Pending home sales and private payrolls increased in August but the markets traded lower during the midday with the Dow tumbling 88 points to 18,365. Nasdaq fell 20 points to 5,202. 


The Department of Justice filed a lawsuit to block farm equipment maker Deere & Co. from buying Monsanto Co.'s Precision Planting farm equipment business. The antitrust division of the Justice Department said that the proposed acquisition would combine the two dominate high-speed planting technology makers. With no other significant competitors, Deere could raise prices and slow innovation.


Amazon expanded its restaurant delivery service to Houston, Texas. Amazon Prime members can now order food from Amazon Restaurant partners in Houston and receive free delivery within one hour. There are no menu markups or service charges. Prime members will pay the same price as the restaurant's online menu.


Tesla will update its self-driving Autopilot feature in the upcoming V8.0 and 8.1 software. Changes will be made to the processing of radar, laser and camera system signals. A Model S sedan that had its Autopilot feature activated was involved in a fatal crash in May.


In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 2 on both the NYSE and on Nasdaq. The broader S&P 500 dropped 10 points to 2,165. Bitcoin lost $4 to $573.

Retreating crude oil prices weighed the markets down to a lower open with the Dow falling 34 points to 18,419. Nasdaq lost 7 points to 5,215. 


On the upside


Sino-Global Shipping America (Nasdaq: SINO) will develop a mobile app that will provide a full-service logistics platform between the US and China to short-haul trucking in the US.


Veeva Systems (NYSE: VEEV) reported better than expected second quarter earnings and revenue.


Interactive Intelligence (Nasdaq: ININ) will be acquired by Genesys in a deal valued at approximately $1.4 billion.


On the downside


H&R Block (NYSE: HRB) widened first quarter losses more than expected.


Investors locked in profits on Rigel Pharmaceuticals (Nasdaq: RIGL).


Palo Alto Networks (NYSE: PANW) widened losses for the fourth quarter and forecast current quarter revenue below estimate.


In the broad market, declining issues outpaced advancers by a margin of more than 7 to 5 on the NYSE and by nearly 5 to 3 on Nasdaq. The broader S&P 500 fell 4 points to 2,171. Bitcoin lost $4 to $573.

Consumer confidence climbed in August by the markets closed lower with the Dow losing 48 points to 18,454 over concerns of an imminent rate hike. Nasdaq fell 9 points to 5,222. 


On the upside


Jefferies upgraded Karoypharm Therapeutics (Nasdaq: KPTI) from a Hold rating to a Buy rating and lifted its price target from $9 to $12.


Agrium (NYSE: AGU) confirmed that the farm products retailer engaged merger talks with fertilizer producer Potash Corp. of Saskatchewan (NYSE: POT).


United Continental (NYSE: UAL) hired former American Airlines (Nasdaq: AAL) president Scott Kirby to be president of United Continental prompting an upgrade.


On the downside


Christopher & Banks (NYSE: CBK) widened losses for the second quarter as revenue fell.


DSW (NYSE: DSW) reported lower second quarter earnings as same store sales slipped.


Falling gold prices weighed down shares of Coeur Mining (NYSE: CDE).


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 10 to 9 on Nasdaq. The broader S&P 500 fell 4 points to 2,176. Bitcoin added $3 to $576.

Sears to sell paint again

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Apple's $14.5 billion tax bill sends the markets lower with the Dow falling 52 points to 18,450. Nasdaq lost 12 points to 5,219. 


Potash Corp of Saskatchewan and Agrium are reportedly engaged in discussions for a potential merger. Slumping crop prices have forced farmers to scrutinize all their expenses including fertilizer costs. The falling profits of crop nutrient companies sparked the merger talks.


Sears stopped selling paint four years ago but the strong housing market has once again created demand for home improvement supplies. Sears will begin offering Weatherbeater and EasyLiving brands of of paint and accessories at 23 stores. The retailer will also create a new line of paint under the Craftsman label.


After three years without pay raises and four years of negotiations, Southwest Airlines pilots have reached a tentative deal to receive a 29.4% raise over the next four years. Pilots will receive a signing bonus of up to 11% of pay, a 15% raise effective October 1, then 3% increases each year for the next four years. Details of the deal must still be finalized and the pilots' union must also approve.


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 9 to 7 on Nasdaq. The broader S&P 500 lost 5 points to 2,175. Bitcoin rose $4 to $577.

The markets opened lower with the Dow falling 55 points to 18,447 as Apple is ordered to pay $14.5 billion in back taxes to Ireland. Nasdaq lost 5 points to 5,227. 


On the upside


Rigel Pharmaceuticals (Nasdaq: RIGL) reported positive results from a Phase 3 study of fostamatinib to treat adult chronic/persistent immune thrombocytopenia.


Abt Electronics is the first retailer in the nation to carry Turtle Beach's (Nasdaq: HEAR) HyperSound Clear 500P home audio system.


Ritchie Bros. (NYSE: RBA) will acquire used equipment e-commerce site IronPlanet for approximately $758.5 million and has entered a strategic alliance with Caterpillar (NYSE: CAT).


On the downside


Abercrombie & Fitch (NYSE: ANF) widened second quarter losses more than expected as revenue dropped.


G-III Apparel Group (Nasdaq: GIII) fell to an unexpected loss for the second quarter prompting the company to lower its full year forecast.


Mondelez (Nasdaq: MDLZ) has ended its efforts to acquire Hershey (NYSE: HSY).


In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 4 on the NYSE and by more than 5 to 3 on Nasdaq. The broader S&P 500 fell 4 points to 2,175. Bitcoin added $3 to $576.

An increase in July consumer spending boosted the markets to a sharply higher close with the Dow soaring 107 points to 18,502. Nasdaq gained 13 points to 5,232. 


On the upside


Comstock Resources (NYSE: CRK) amended and extended its senior notes exchange offer.


Jefferies lifted its price target on Lantheus Holdings (Nasdaq: LNTH) from $8 to $12.


Shares of TPI Composites (Nasdaq: TPIC) climbed ahead of the end of the company's quiet period on August 31, 2016.


On the downside


A supply agreement that Core-Mark Holding's (Nasdaq: CORE) has with Circle K Stores for the Southeastern Region of the U.S. was not renewed and will expire January 2017.


Shares of Net 1 Ueps Technologies (Nasdaq: UEPS) extended its losses.


EXCO Resources (NYSE: XCO) stock continued falling as crude oil prices retreated.


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 11 points to 2,180. Bitcoin added $1 to $573.

Today is Amazon's Kitchen Deals Day

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The markets advanced during the midday with the Dow soaring 99 points to 18,494. Nasdaq gained 14 points to 5,233. 


Amazon launched its Kitchen Deals Day today for Prime customers offering discounts on countertop appliances, kitchen tools and cookware. Lightening Deals will be featured throughout the day. Non-Prime members can sign-up for a free 30-day trial of Amazon Prime.


More than 9,900 current and former Chipotle workers have sued the fast casual restaurant chain for wage theft. The class action lawsuit alleges that Chipotle forced employees to clock out and continue working without pay in order to meet budget goals. Chipotle has denied any wrongdoing.


The European Commission is expected to rule against a tax arrangement that Ireland made with Apple. Ireland denies that it did anything illegal by offering a lower tax rate to Apple for creating jobs in the country. The tax bill that Apple would have to pay could be as high as $19 billion. 


In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 2 on the NYSE and by more than 5 to 3 on Nasdaq. The broader S&P 500 gained 11 points to 2,180. Bitcoin added $3 to $575.

Consumer spending rose 0.3% in July to lift the markets to a higher open with the Dow climbing 92 points to 18,487. Nasdaq rose 9 points to 5,228. 


On the upside


Macrocure (Nasdaq: MCUR) will be acquired by Leap Therapeutics.


Shares of Staffing 360 Solutions (Nasdaq: STAF) climbed ahead of its earnings release.


Bargain hunters lifted shares of SkyPeople Fruit Juice (Nasdaq: SPU).


On the downside


A bankruptcy judge ruled that Caesars Entertainment (Nasdaq: CZR) must face bondholder lawsuits of approximately $11 billion in claims.


Shares of Adamis Pharmaceuticals (Nasdaq: ADMP) and Antares Pharmaceuticals (Nasdaq: ATRS) fell after Mylan (Nasdaq: MYL) announced plans to offer a generic version of its severe allergic reaction auto-injector treatment EpiPen.


Gilead Sciences (Nasdaq: GILD) stock fell for the fifth day.


In the broad market, advancing issues outpaced decliners by a margin of more than 3 to 1 on the NYSE and by nearly 5 to 3 on Nasdaq. The broader S&P 500 gained 9 points to 2,178. Bitcoin added $4 to $576.

A potential rate hike weighed the markets down to a lower close with the Dow falling 53 points to 18,395. Nasdaq rose 6 points to 5,218. 


On the upside


Analysts expect Adamis Pharmaceuticals's (Nasdaq: ADMP) generic pre-filled epinephrine syringe, EpiPen, will be approved soon.


Bottomline Technologies (Nasdaq: EPAY) narrowed fourth quarter losses more than expected and announced a $60 million stock repurchase program.


Fiesta Restaurant Group (Nasdaq: FRGI) chief executive Tim Taft will retire at the end of the year.


On the downside


Fourth quarter earnings and revenue fell short for Aceto (Nasdaq: ACET).


GameStop (NYSE: GME) disappointed with lower second quarter revenue that missed expectations.


Ferroglobe (Nasdaq: GSM) reported a loss for the second quarter.


In the broad market, declining issues outpaced advancers by a margin of more than 3 to 2 on the NYSE and by nearly 10 to 9 on Nasdaq. The broader S&P 500 rose 3 points to 2,169. Bitcoin added $1 to $576.

The markets retreated during the midday with the Dow falling 36 points to 18,411 as possibility of a rate hike increased. Nasdaq eased a fraction to 5,211. 


In a speech at the annual Jackson Hole Symposium today, Federal Reserve chair Janet Yellen discussed the different options that are available to the Fed to support the nation's economy during a downturn. She highlighted the current conditions of an improving labor market and an upbeat economic outlook. Because of the strengthening economy, Yellen suggested that an interest rate increase would be likely in the near future.  


Business inventories dropped for the first time since the third quarter of 2011. Second quarter inventories fell $12.4 billion to weigh down the gross domestic product. Meanwhile, consumer spending was revised upward to 4.4%.


Mazda will recall approximately 190,000 model 2007 through 2012 CX-7 sport utility vehicles to fix a steering problem. Water may enter the front suspension ball joint fitting of vehicles with the default causing possible corrosion. The joint may then separate from the lower control arm. Steering control will be lost.


In the broad market, advancing issues outpaced decliners by a margin of more than 10 to 9 on the NYSE and by nearly 5 to 4 on Nasdaq. The broader S&P 500 slipped 2 points to 2,169. Bitcoin rose $3 to $578.

Flat open on sluggish economy

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The markets opened flat with the Dow rising 9 points to 18,457 as the nation's economy expanded at a modest 1.1% pace in the second quarter. Nasdaq added 3 points to 5,215. 


On the upside


PetroQuest (NYSE: PQ) commenced private exchange offers and a consent solicitation to senior notes holders.


Staffing 360 Solutions (Nasdaq: STAF) will release financial results on Monday, August 29, 2016.


Performance Sports Group (NYSE: PFS) may be close to finalizing a deal with its creditors to avoid a default.


On the downside


The Department of Education will no longer provide federal financial aid to students enrolled at ITT Educational Services (NYSE: ESI).


Brocade Communications (Nasdaq: BRCD) reported sharply lower third quarter earnings.


Splunk (Nasdaq: SPLK) widened losses for the third quarter prompting a downgrade.


In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 2 on the NYSE and by more than 5 to 3 on Nasdaq. The broader S&P 500 added 2 points to 2,175. Bitcoin rose $3 to $578.

Lower close ahead of Yellen speech

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The markets closed lower with the Dow falling 33 points to 18,448 ahead of Federal Reserve chair Janet Yellen's speech tomorrow. Nasdaq lost 5 points to 5,212. 


On the upside


A federal judge ruled that Roxane Laboratories infringed on two of Vanda Pharmaceuticals' (Nasdaq: VNDA) patents.


Applied Optoelectronics (Nasdaq: AAOI) received initial orders for its 40Gbps QSFP+ and 100Gbps QSFP28 optical transceiver modules from a new hyper-scale datacenter customer.


Shares of generic EpiPen maker Antares Pharma (Nasdaq: ATRS) climbed.


On the downside


Resolute Energy (NYSE: REN) chief executive Nicholas J. Sutton will retire on December 31, 2016.


Investors continued to lock in profits on Amedica (Nasdaq: AMDA).


Amazon's (Nasdaq: AMZN) launch of Amazon Vehicle sent shares of TrueCar (Nasdaq: TRUE) lower.


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 2,172. Bitcoin lost $4 to $574.

The markets traded mixed during the midday with the Dow losing 19 points to 18,462. Nasdaq rose 5 points to 5,223. 


There are indications that Amazon is planning to open brick-and-mortar stores for customers to collect groceries that have been ordered online. Based on permit applications and planning documents, Amazon may be exploring locations in San Carlos and Sunnyvale in the San Francisco area of California and in Seattle, Washington.


Software startup nuTonomy introduced self-driving taxis in Singapore today. Potential customers will be invited to hail a self-driving car in the one-north business district. Each self-driving taxi will be accompanied by an engineer to observe and assume control if necessary. NuTonomy plans to expand service with a wider commercial launch in 2018.


TripAdvisor acquired social mapping app Citymaps for an undisclosed sum. Citymaps was founded in 2010 to aggregate business information. The app now highlights point of interest on maps that users can customize and share.


In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 5 on the NYSE and by 9 to 7 on Nasdaq. The broader S&P 500 held steady at 2,175. Bitcoin fell $3 to $575.

The markets opened lower with the Dow slipping 6 points to 18,475 over disappointing earnings. Nasdaq eased 2 points to 5,215. 


On the upside


Guess? (NYSE: GES) reported higher second quarter earnings that beat expectations.


Shares of Nymox Pharmaceutical (Nasdaq: NYMX) continued soaring.


Tiffany (NYSE: TIF) reported higher second quarter earnings that topped analyst estimates.


On the downside


Second quarter earnings for Dollar General (NYSE: DG) fell short of analyst expectations.


Signet Jewelers (NYSE: SIG) reported second quarter earnings and revenue that missed estimates prompting the company to cut its full year forecast.


Dollar Tree (NYSE: DLTR) reported second quarter earnings and revenue that fell short of expectations.


In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 5 on the NYSE and by 9 to 7 on Nasdaq. The broader S&P 500 lost 2 points to 2,173. Bitcoin fell $6 to $572.

The markets closed lower with the Dow dropping 65 points to 18,481 as sales of existing homes fell. Nasdaq tumbled 42 points to 5,217. 


On the upside


Nymox Pharmaceutical (Nasdaq: NYMX) announced successful new study results from a long-term Phase 3 trial of the prostate cancer treatment fexapotide.


OraSure Technologies (Nasdaq: OSUR) won a contract for up to $16.6 million to advance rapid Zika tests.


Craft Brew Alliance (Nasdaq: BREW) and Anheuser-Busch amended and extended their master distribution agreement, entered a new contract brewing agreement and entered a new international distribution agreement.


On the downside


Falling gold and silver prices continued to weigh down shares of Hecla Mining (NYSE: HL).


Investors locked in profits on Arrowhead Pharmaceuticals (Nasdaq: ARWR).


Coeur Mining (NYSE: CDE) extended its losses as gold prices dropped.


In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 2 on the NYSE and by nearly 2 to 1 on Nasdaq. The broader S&P 500 fell 11 points to 2,175. Bitcoin lost $2 to $578.

Ford recalls 113,000 vehicles

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The markets extended its losses during the midday with the Dow falling 43 points to 18,503. Nasdaq dropped 23 points to 5,236. 


Ford is recalling more than 113,000 vehicles worldwide to fix various defects. Fuel pump modules will be replaced in approximately 88,000 2013-2015 model year Ford Taurus sedans, Flex crossover utility vehicles, Police Interceptor sedans, Lincoln MKS sedans and Lincoln MKT SUVs. Approximately 2,500 2015-2016 model year Ford Transit vans will have their fuel-injection pumps replaced. The power window software in approximately 23,000 2017 Ford Escape SUVs must be recalibrated.


The National Labor Relations Board ruled that some of Chipotle's policies violated labor laws. The Chipotle employee handbook prohibits employees from discussing religion or politics in public, soliciting coworker support against a workplace policy in the visual or hearing range of customers, and using the Chipotle brand name. Chipotle must amend its policies to allow its workers freedom of speech.


Sales of existing homes dropped by a greater than expected 3.2% in July as inventory shrank. With fewer properties on the market, the median house price climbed 5.3%. The tight inventory also prompted a quicker turnaround time for sales. The number of days that a house stayed on the market fell from 42 days last year to 36 days. 


In the broad market, declining issues outpaced advancers by a margin of nearly 2 to 1 on the NYSE and by more than 9 to 7 on Nasdaq. The broader S&P 500 fell 7 points to 2,179. Bitcoin lost $2 to $578.

Existing home sales fell in July to weigh the markets down to a lower open with the Dow losing 24 points to 18,523. Nasdaq eased a fraction to 5,259. 


On the upside


Uranium Resources (Nasdaq: URRE) acquired a lithium property in Nevada.


The Food and Drug Administration granted clearance to Amedica (Nasdaq: AMDA) for expanded Valeo II Lateral Lumbar sizes.


Lannett (NYSE: LCI) reported better than expected earnings for the fourth quarter as revenue surged and forecast full year revenue ahead of estimates.


On the downside


Express (NYSE: EXPR) disappointed with lower second quarter earnings and revenue that fell short of expectations and slashed its current quarter guidance.


First quarter earnings and revenue for La-Z-Boy (NYSE: LZB) missed estimates.


Shares of Yirendai (NYSE: YRD) fell for the fifth day.


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 nearly 9 to 7 on Nasdaq. The broader S&P 500 slipped 2 points to 2,184. Bitcoin lost $1 to $579.

Higher close as oil rebounds

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Crude oil prices rebounded in late afternoon trading to lift the markets to a modestly higher close with the Dow rising 17 points to 18,547. Nasdaq gained 15 points to 5,260. 


On the upside


The Food and Drug Administration granted accelerated approval for Clovis Oncology's (Nasdaq: CLVS) new drug application for rucaparib.


Daktronics (Nasdaq: DAKT) reported higher first quarter earnings and revenue that topped analyst estimates.


Capstone Turbine's (Nasdaq: CPST) distributor in Belarus and Russia won another order for a C1000 Signature Series microturbine.


On the downside


Kirkland (Nasdaq: KIRK) widened losses for the second quarter.


Investors locked in profits on Tokai Pharmaceuticals (Nasdaq: TKAI).


Profit taking weighed down shares of Nvatel Wireless (Nasdaq: MIFI).


In the broad market, advancing issues outpaced decliners by a margin of more than 2 to 1 on the NYSE and by more than 5 to 3 on Nasdaq. The broader S&P 500 rose 4 points to 2,186. Bitcoin slipped $2 to $581.

Upbeat new home sales lifted the markets during the midday with the Dow gaining 67 points to 18,596. Nasdaq climbed 26 points to 5,270. 


Volkswagen has settled a dispute with parts supplier Prevent Group. Details of the agreement were not provided. Production of Volkswagen's best selling Golf will resume as soon as deliveries of seat fabrics, gear boxes and other equipment are received.


Beijing-based insurer Anbang Insurance Group has engaged in discussions with investment banks for an initial public offering of its life insurance unit, Anbang Life Insurance. The offering may list as early as mid-2017 on the Hong Kong exchange.


Tesla Motors chief executive Elon Musk tweeted that a product announcement would be made today at noon California time. No other details were provided. Speculation swirled that the electric vehicle maker may unveil new autonomous driving technology.


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 6 points to 2,189. Bitcoin slipped $1 to $583.

New home sales soared 12.4% in July to boost the markets to a higher open with the Dow climbing 70 points to 18,600. Nasdaq gained 27 points to 5,271. 


On the upside


Best Buy (NYSE: BBY) reported higher second quarter earnings and revenue that topped analyst estimates.


Tableau Software (NYSE: DATA) appointed former Amazon Web Services executive Adam Selipsky as its new chief executive and partnered with Narrative Sciences to offer Narratives for Tableau.


A Seeking Alpha contributor wrote that Amedica (Nasdaq: AMDA) received FDA clearance for its 510k medical device.


On the downside


Sophiris Bio (Nasdaq: SPHS) priced its public offering of 6.5 million common shares and warrants at the discounted price of $4.00 per share and warrant.


Second quarter revenue for Zoe's Kitchen (NYSE: ZOES) fell short of expectations prompting the fast casual restaurant chain to lower its full year forecast.


J.M. Smucker (NYSE: SJM) reported a greater than expected drop in second quarter revenue.


In the broad market, advancing issues outpaced decliners by a margin of more than 4 to 1 on the NYSE and by more than 3 to 1 on Nasdaq. The broader S&P 500 gained 9 points to 2,192. Bitcoin slipped $1 to $583.

The markets closed mixed with the Dow losing 23 points to 18,529 ahead of Federal Reserve chair Janet Yellen's speech on Friday. Nasdaq rose 6 points to 5,244. 


On the upside


AMC Entertainment Holdings (NYSE: AMC) loaned a total of $65 million to RLJ Entertainment (Nasdaq: RLJE) sparking speculation that AMC may buy RLJ.


Tang Capital Partners acquired a 9.6% stake in Cyclacel Pharmaceuticals (Nasdaq: CYCC).


Novatel Wireless (Nasdaq: MIFI) stock climbed for the fifth day.


On the downside


Investors locked in profits on Stone Energy (NYSE: SGY).


Shares of California Resources (NYSE: CRC) extended its losses.


DDRDGOLD (NYSE: DRD) warned that full year earnings could drop as much as 20% from last year.


In the broad market, advancing issues were on par with decliners on the NYSE while advancers outpaced decliners by nearly 5 to 4 on Nasdaq. The broader S&P 500 slipped a point to 2,182. Bitcoin gained $7 to $585.

Kobe Bryant starts investment fund

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The markets traded lower during the midday with the Dow falling 34 points to 18,518 as crude oil prices retreated. Nasdaq slipped 2 points to 5,235. 


Circle K owner Alimentation Couche-Tard seeks to expand its presence by buying San Antonio, Texas based convenience store chain CST Brands in a deal valued at approximately $4.4 billion. CST was originally a division of Valero Energy and became an independent company in May 2013. Earlier this year, CST purchased Flash Foods Network. After Alimentation Couche-Tard completes the CST acquisition in 2017, certain Canadian assets of CST will be sold to Parkland Fuel for approximately $750 million.


Retired Lakers legend Kobe Bryant partnered with Dun & Bradstreet vice chairman Jeff Stibel to launch a $100 million media, technology and data venture capital fund. They named the new firm, which will be based in Los Angeles, Bryant Stibel. The fund is currently closed to outside investors.


The Committee on Foreign Investment in the United States has approved China National Chemical Corporation's proposed $43 billion acquisition of Swiss agricultural firm Syngenta. While several countries must still conduct anti-trust reviews of the deal, the transaction is expected to close by the end of the year.


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 slipped 3 points to 2,180. Bitcoin climbed $9 to $586.

Falling crude oil prices weighed the markets down to a lower open with the Dow dropping 59 points to 18,492. Nasdaq lost 5 points to 5,232. 


On the upside


Medivation (Nasdaq: MDVN) will be acquired by Pfizer (NYSE: PFE) in a deal valued at approximately $14 billion.


Bargain hunters lifted shares of StemCells (Nasdaq: STEM).


Renesas Electronics has engaged in discussions to buy Intersil (Nasdaq: ISIL) with a potential price tag of $3 billion.


On the downside


Marathon Oil (NYSE: MRO) chief financial officer J. R. Sult resigned.


SeaDrill (NYSE: SDRL) received a notice of termination from Pemex Exploration y Servicios for the West Pegasus drilling contract effective August 16, 2016.


Retreating crude oil prices weighed down shares of Whiting Petroleum (NYSE: WLL).


In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 2 on the NYSE and by more than 7 to 5 on Nasdaq. The broader S&P 500 fell 5 points to 2,178. Bitcoin rose $3 to $581.

Concerns about a potential rate hike weighed the markets down to a lower close with the Dow losing 45 points to 18,552. Nasdaq slipped a point to 5,238. 


On the upside


Shares of VisionChina Media (Nasdaq: VISN) surged 50% on no news.


Bargain hunters lifted shares of GEO Group (NYSE: GEO).


Deere (NYSE: DE) reported higher third quarter earnings that surpassed analyst expectations by a wide margin prompting the company to lift its full year earnings outlook.


On the downside


Shares of StemCells (Nasdaq: STEM) extended its losses.


OTR Global downgraded Pure Storage (NYSE: PSTG) from a Mixed rating to a Negative rating.


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


In the broad market, declining issues outpaced advancers by a margin of more than 7 to 5 on the NYSE and by nearly 10 to 9 on Nasdaq. The broader S&P 500 lost 3 points to 2,183. Bitcoin edged up to $572.

Eddie Bauer hacked

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The markets traded mixed during the midday with the Dow slipping 15 points to 18,582 as crude oil prices eased. Nasdaq added 2 points to 5,243. 


Yet another retailer fell victim to malware attacks. Eddie Bauer warned that customers who used credit cards in any North American store between January 2, 2016 and July 17, 2016 may have had their credit card information stolen. Identity protection services have been offered to customers who may have been affected by the data breach.


Production at German Volkswagen factories were forced to stop after a supplier refused to deliver parts to the plant. Volkswagen had cancelled a contract with Prevent Group. In retaliation, the auto parts supplier suspended deliveries of seat components and transmission parts. A court ordered the supplier to resume deliveries last week.


A proposed $100 million settlement between Uber and its drivers in California and Massachusetts has been rejected by a federal judge. The two class action lawsuit claimed that drivers should be treated as employees rather than contractors. The judge ruled that the settlement was not fair, accurate or reasonable for drivers. 


In the broad market, declining issues outpaced advancers by a margin of more than 5 to 3 on the NYSE and by 10 to 9 on Nasdaq. The broader S&P 500 slipped 3 points to 2,183. Bitcoin eased a fraction to $571.

The markets opened lower with the Dow falling 58 points to 18,539 over renewed concerns of a potential interest rate increase. Nasdaq lost 5 points to 5,234. 


On the upside


Goldman Sachs upgraded Restoration Hardware (NYSE: RH) from a Neutral rating to a Conviction Buy rating.


Corrections Corporation of America (NYSE: CXW) responded to the Justice Department's decision to reduce the use of private prisons and clarified that contracts with the Federal Bureau of Prisons represented approximately 7% of the company's annual revenue.


Foot Locker (NYSE: FL) reported higher second quarter earnings and revenue that beat analyst expectations.


On the downside


KeyBank Capital Markets downgraded AK Steel Holding (NYSE: AKS) from a Sector Weight rating to an Underweight rating.


Investors locked in profits on Ensco (NYSE: ESV).


Profit taking weighed down shares of Sanchez Energy (NYSE: SN).


In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 2 on the NYSE and by more than 9 to 7 on Nasdaq. The broader S&P 500 rose 4 points to 2,187. Bitcoin added $1 to $573.

Rising oil prices lift markets

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Crude oil prices rose to settle at $48.31 per barrel to lift the markets to a higher close with the Dow rising 22 points to 18,597. Nasdaq gained 11 points to 5,240. 


On the upside


Bargain hunters lifted shares of Stone Energy (NYSE: SGY).


Canadian Solar (Nasdaq: CSIQ) impressed with sharply higher second quarter earnings and revenue that surpassed analyst expectations.


Shares of Lpath (Nasdaq: LPTN) climbed again.


On the downside


Shares Corrections Corporation of America (NYSE: CXW) and The GEO Group (NYSE: GEO) plunged after the Justice Department said that it would reduce and ultimately end the use of privately operated prisons.


Auris Medical Holding (Nasdaq: EARS) reported disappointing results from a TACTT2 trial of its acute inner ear tinnitus treatment Keyzilen and reported a loss of for the second quarter.


Jones Energy (NYSE: JONE) will pay approximately $136.5 million to buy 18,000 acres of land in Canada and Oklahoma. The company will fund the purchase through the sale of 14 million common shares of stock and 1 million shares of convertible preferred stock.


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 rose 4 points to 2,187. Bitcoin added $1 to $571.

First time applications for unemployment benefits fell more than expected last week but the markets traded lower during the midday with the Dow losing 24 points to 18,549. Nasdaq added 4 points to 5,233. 


Uber and Volvo partnered to invest a total of $300 million to jointly develop self-driving cars. Free rides in a self-driving Volvo XC90 will be offered to Uber customers in Pittsburgh at the end of the month. An Uber employee will sit in the driver's seat to monitor the car and take control if necessary.


T-Mobile responded to AT&T's announcement yesterday to end overage fees by eliminating its tiered data plans. Beginning September 6, T-Mobile will offer unlimited plans for data, text, and calls. Customers will have the option to continue with their data plans or switch to the T-Mobile One plan.


Harley-Davidson will pay a $15 million civil penalty and spend $3 million to mitigate air pollution to settle allegations that the company sold aftermarket devices that allowed motorcycles to cheat engine emissions standards. The motorcycle maker will also offer to buy back and destroy the devices. Harley-Davidson made no admission of guilt as part of the settlement.


In the broad market, advancing issues outpaced decliners by a margin of more than 2 to 1 on the NYSE and by more than 5 to 3 on Nasdaq. The broader S&P 500 eased a fraction to 2,181. Bitcoin rose $4 to $574.

The markets opened flat with the Dow adding 2 points to 18,576 as the possibility of an interest rate hike increased. Nasdaq rose 7 points to 5,235. 


On the upside


GlobalWafers will acquire SunEdison Semiconductor (Nasdaq: SEMI) in an all cash deal valued at approximately $683 million including the assumption of debt.


Tudor Pickering upgraded Cobalt International Energy (NYSE: CIE) from a Hold rating to a Buy rating.


JPMorgan upgraded NetApp (Nasdaq: NTAP) from an Underweight rating to a Neutral rating.


On the downside


The Food and Drug Administration issued a Complete Response Letter to Portola Pharmaceuticals (Nasdaq: PTLA) for AndexXa.


58.com (NYSE: WUBA) swung to a profit for the second quarter but profit margins slipped.


Cerulean Pharma (Nasdaq: CERU) reported disappointing results from a Phase 2 study of CRLX101.


In the broad market, advancing issues outpaced decliners by a margin of more than 2 to 1 on the NYSE and by more than 5 to 3 on Nasdaq. The broader S&P 500 held steady at 2,182. Bitcoin added $2 to $572.

Markets rebound as oil rises

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The markets reversed course to close higher with the Dow gaining 21 points to 18,573 as crude oil prices edged up. Nasdaq added a point to 5,228. 


On the upside


Shares of Auris Medical Holding (Nasdaq: EARS) soared ahead of its earnings release on Thursday and in anticipation of the release of top line results from its TACTT2 trial.


Urban Outfitters (Nasdaq: URBN) impressed with higher second quarter earnings and revenue that beat analyst expectations.


Shares of Marrone Bio Innovations (Nasdaq: MBII) climbed for the sixth day.


On the downside


21Vianet Group (Nasdaq: VNET) reported a greater than expected loss for the second quarter prompting a downgrade.


Performance Sports Group (NYSE: PSG) is under investigation by the U.S. Securities and Exchange Commission and Canadian securities regulators.


Barnes & Noble (NYSE: BKS) fired chief executive Ronald D. Boire after less than a year prompting a downgrade.


In the broad market, advancing issues barely edged out decliners by a slim margin on the NYSE while decliners outpaced advancers by nearly 7 to 5 on Nasdaq. The broader S&P 500 rose 4 points to 2,182. Bitcoin fell $7 to $569.

The markets traded mixed during the midday with the Dow rising 7 points to 18,559. Nasdaq slipped 3 points to 5,223. 


Intel partnered with British rival ARM to build processors based on ARM. The deal includes future ARM POP technology products for quicker knowledge transfer. LG Electronics is the first foundry customer for Intel's 10nm node.


Volkswagen will introduce a new electric vehicle at the Paris Motor Show in October. The compact car will be about the same size at the VW Golf and have a range of approximately 248 to 372 miles on a single charge. The highest single charge range for the Tesla Model S is approximately 270 miles.


OPEC had announced earlier this month that it would hold informal talks in September to discuss options to stabilize the crude oil market. Industry sources today said that Saudi Arabia plans to increase production to record levels ahead of the talks in an attempt to gain leverage. Saudi Arabia is the world's largest exporter of oil.


In the broad market, declining issues outpaced advancers by a margin of nearly 3 to 2 on both the NYSE and on Nasdaq. The broader S&P 500 added a point to 2,179. Bitcoin dropped $9 to $567.

The markets opened lower with the Dow dropping 60 points to 18,491 ahead of the release of the Federal Reserve meeting minutes. Nasdaq fell 17points to 5,209. 


On the upside


Morgan Stanley analyst David Risinger upgraded Valeant Pharmaceuticals (NYSE: VRX) from a Neutral rating to an Overweight rating.


Sky Solar Holdings (Nasdaq: SKYS) will sell its interests in 152 MW of solar projects in Japan to Solar Partnership Capital for approximately $165 million.


Guggenheim analyst Louise Chen initiated coverage of SCYNEXIS (Nasdaq: SCYX) with a Buy rating.


On the downside


StemCells (Nasdaq: STEM) chief executive Ian Massey, chief financial officer Greg Schiffman and three board members resigned.


Cree (Nasdaq: CREE) reported a larger than expected loss for the fourth quarter and forecast current quarter results below analyst estimates.


Staples (Nasdaq: SPLS) fell to a loss for the second quarter and warned of losses for the third quarter.


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 3 on Nasdaq. The broader S&P 500 fell 6 points to 2,171. Bitcoin lost $3 to $573.

Comments by two Federal Reserve officials indicating that a rate hike was possible before the end of the year sent the markets down to a lower close with the Dow tumbling 84 points to 18,552. Nasdaq dropped 34 points to 5,227. 


On the upside


Comstock Resources (NYSE: CRK) amended its previously announced senior notes exchange offer.


Cintas (Nasdaq: CTAS) will acquire G&K Services (Nasdaq: GK) in a deal valued at approximately $2.2 billion.


Shares of Cyclacel Pharmaceuticals (Nasdaq: CYCC) extended its gains.


On the downside


Evoke Pharma (Nasdaq: EVOK) narrowed losses for the second quarter but the stock price fell.


Heat Biologics (Nasdaq: HTBX) narrowed second quarter losses but the stock price slipped.


Investors locked in profits on Ocular Therapeutics (Nasdaq: OCUL).


In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 3 on both the NYSE and on Nasdaq. The broader S&P 500 dropped 12 points to 2,178. Bitcoin climbed $13 to $578.

Google debuts Duo

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The markets extended its losses during the midday with the Dow falling 42 points to 18,593. Nasdaq lost 19 points to 5,242. 


Google introduced its free video calling app Duo that allows calls between iOS and Android devices. Duo offers an optional Knock Knock feature that allows call receivers to view callers in real time before answering the call. There is no group calling function. Instead, Duo is specifically targeting one-to-one video calling.


The nation's factories produced more automobiles, chemicals and machinery in July than the rest of the year. Factory output gained 0.5% following a 0.3% increase in June. Including utilities and mining, overall industrial production climbed 0.7%.


July housing starts climbed as the housing market strengthened. Privately-owned housing starts gained 2.1%. Single-family housing starts edged up 0.5% while multi-family housing units of 5 or more surged 8.3%.


In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 3 on the NYSE and by more than 2 to 1 on Nasdaq. The broader S&P 500 lost 6 points to 2,183. Bitcoin climbed $9 to $574.

Lower open as CPI holds steady

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The markets opened lower with the Dow losing 36 points to 18,599 as consumer prices held steady in July. Nasdaq fell 21 points to 5,240. 


On the upside


Bargain hunters lifted shares of Aurinia Pharmaceuticals (Nasdaq: AUPH).


SITO Mobile (Nasdaq: SITO) reversed year ago losses to post a profit for the second quarter.


Dick's Sporting Goods (NYSE: DKS) reported higher second quarter earnings and revenue that topped analyst estimates and lifted its full year forecast.


On the downside


The Hain Celestial Group (Nasdaq: HAIN) delayed its filing its fourth quarter financials due to an accounting review and warned it would fall short of its full year forecast.


Shares of MeetMe (Nasdaq: MEET) dropped for the fourth day.


Fabrinet (NYSE: FN) reported higher fourth quarter earnings and revenue but the stock price fell as investors locked in profits.


In the broad market, declining issues outpaced advancers by a margin of nearly 2 to 1 on both the NYSE and on Nasdaq. The broader S&P 500 lost 6 points to 2,183. Bitcoin climbed $9 to $574.

Higher close as crude oil climbs

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The markets closed higher with the Dow rising 59 points to 18,636 as crude oil prices climbed. Nasdaq gained 29 points to 5,262. 


On the upside


American Electric Technologies (Nasdaq: AETI) reversed year ago losses to post a profit for the second quarter.


Bargain hunters lifted shares of Yirendai (NYSE: YRD).


Shares of Eleven Biotherapeutics (Nasdaq: EBIO) continued to climb.


On the downside


DryShips (Nasdaq: DRYS) stock continued falling.


Profit taking weighed down share of Sophiris Bio (Nasdaq: SPHS).


Live Ventures (Nasdaq: LIVE) retreated in late afternoon trading to close lower.


In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 3 on the NYSE and by more than 2 to 1 on Nasdaq. The broader S&P 500 rose 6 points to 2,190. Bitcoin edged up to $565.

Crude oil prices rose above $45 per barrel to lift the markets higher during the midday with the Dow gaining 76 points to 18,652. Nasdaq climbed 31 points to 5,264. 


Analysts are predicting that Apple will unveil a new iPad screen size and a redesigned iPhone next year. Currently, iPads are available in the iPad Mini with a 7.9 inch screen, iPad classic with 9.7 inch screen and the iPad Pro with a 12.9 inch screen. A new 10.5-inch screen is expected to cater to education and commercial markets. Rumors are circulating that next year's iPhone will have edge-to-edge screens, smaller bezels and OLED display technology.


Target continues to struggle to attract customers to its grocery business. The discount retailer expanded its grocery offerings in 2009 with its P-Fresh store remodels. But, shoppers are not buying enough fresh products before they spoil. Grocery revenue is approximately $18.5 billion, or 20% of total annual revenue.


Gawker Media, which filed for bankruptcy in June, will be sold through a court-supervised auction tomorrow. In March, a jury ruled against Gawker and awarded Hulk Hogan $115 million in compensatory damages and an additional $25 million in punitive damages over the publication of a sex tape. Potential buyers include Ziff Davis, which has submitted an opening bid of $90 million, Penske Media and Vox Media.


In the broad market, advancing issues outpaced decliners by a margin of more than 2 to 1 on the NYSE and by nearly 5 to 2 on Nasdaq. The broader S&P 500 gained 7 points to 2,191. Bitcoin lost $3 to $562.

Expectations that Japan will announce further economic stimulus measures boosted the markets to a higher open with the Dow climbing 88 points to 18,665. Nasdaq gained 31 points to 5,264. 


On the upside


SORL Auto Parts (Nasdaq: SORL) reported sharply higher second quarter earnings and revenue.


Second quarter earnings and revenue climbed for Live Ventures (Nasdaq: LIVE).


Second quarter earnings soared for Ocean Bio-Chem (Nasdaq: OBCI).


On the downside


Aurinia Pharmaceuticals (Nasdaq: AUPH) reported positive results from a Phase 2b clinical study of AURA-LV in patients with active lupus nephritis but the stock price plunged on news of 13 deaths in the study.


Performance Sports Group (NYSE: PSG) delayed filing its annual report triggering a default under its current credit facilities.


Shares of Concordia International (Nasdaq: CXRX) extended its losses.


In the broad market, advancing issues outpaced decliners by a margin of nearly 3 to 1 on the NYSE and by nearly 5 to 2 on Nasdaq. The broader S&P 500 gained 8 points to 2,192. Bitcoin edged up to $565.

Mixed close over economic data

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The markets closed mixed with the Dow dropping 37 points to 18,576 as crude oil prices rose while producer prices dropped. Nasdaq rose 4 points to 5,232. 


On the upside


Eleven Biotherapeutics (Nasdaq: EBIO) narrowed losses for the second quarter as revenue rose.


Pacific Crest upgraded InvenSense (NYSE: INVN) from a Sector Weight rating to an Overweight rating citing significant growth opportunities for the smartphone gyroscope maker.


Anavex Life Sciences (Nasdaq: AVXL) narrowed losses for the second quarter.


On the downside


Ruby Tuesday (NYSE: RT) fell to a greater than expected loss for the fourth quarter and announced plans to close 95 underperforming restaurants.


Investors locked in profits on Uranium Resources (Nasdaq: URRE).


Profit taking weighed down shares of Kraton Performance Polymers (NYSE: KRA).


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 slipped a point to 2,184. Bitcoin lost $4 to $585.

Tepid economic news weighed the markets down during the midday with the Dow dropping 58 points to 18,554. Nasdaq lost 6 points to 5,221. 


Retail sales disappointed by holding steady in July on the heels of an upwardly revised 0.8% gain in June. Strong sales at auto dealers and non store retailers offset a 0.5% drop in department store sales. Because consumer spending is approximately 69% of the nation's economy, the flat sales raised concerns about the economic recovery.


Business inventories rose by a greater than expected 0.2% in June while business sales climbed a healthy 1.2%. At those numbers, it would take approximately 1.39 months for a business to empty its shelves, the shortest amount of time since November 2015.


Producer prices fell a seasonally adjusted 0.4% in July due to lower oil prices. Prices were expected to rise 0.1%. Excluding the volatile food and energy sectors, core producer prices slipped 0.3%. Over the past 12 months, core prices have risen a modest 0.8%.


In the broad market, declining issues outpaced advancers by a margin of 7 to 5 on the NYSE and by nearly 7 to 5 on Nasdaq. The broader S&P 500 fell 4 points to 2,180. Bitcoin lost $4 to $585.

Lower open as producer prices fall

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The markets retreated at the open with the Dow falling 16 points to 18,597 as producer prices slipped 0.4% in July. Nasdaq lost 5 points to 5,222. 


On the upside


Hewlett Packard Enterprises (NYSE: HPE) will pay a premium of approximately $275 million to acquire Silicon Graphics International (Nasdaq: SGI).


Acacia Communications (Nasdaq: ACIA) impressed with sharply higher second quarter earnings and revenue that surpassed analyst expectations.


Second quarter earnings and revenue climbed for Sunrun (Nasdaq: RUN) to beat expectations.


On the downside


Ocean Rig (Nasdaq: ORIG) will continue exploring alternatives including the possibility of filing for bankruptcy.


Concordia International (Nasdaq: CXRX) widened second quarter losses.


Twitter (NYSE: TWTR) denied claims that the social messaging site would shut down in 2017.


In the broad market, advancing issues outpaced decliners by a margin of nearly 10 to 9 on the NYSE while decliners edged out advancers by more than 9 to 7 on Nasdaq. The broader S&P 500 slipped a point to 2,183. Bitcoin lost $3 to $586.

Record close for markets

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The markets surged to close at record highs with the Dow soaring 117 points to 18,613 as crude oil prices advanced. Nasdaq climbed 23 points to 5,228. 


On the upside


Uranium Resources (Nasdaq: URRE) reported a narrower second quarter loss on  per share basis.


Alpha & Omega Semiconductor (Nasdaq: AOSL) swung to a better than expected profit for the fourth quarter as revenue climbed.


Nymox Pharmaceutical (Nasdaq: NYMX) reported major progress of its prostate enlargement and low grade prostate cancer treatment fexapotide and will file for approval in the next 1-2 quarters.


On the downside


A. Schulman (Nasdaq: SHLM) cut its full year earnings outlook.


The Justice Department is investigating Valeant Pharmaceuticals (NYSE: VRX) and Philidor Rx Services for allegedly defrauding insurers by hiding their close relationship.


Vista Outdoor (NYSE: VATO) reported lower second quarter earnings that fell short of expectations.


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 10 points to 2,185. Bitcoin slipped $1 to $589.

Online sales continue to impress

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The markets extended its gains during the midday with the Dow soaring 124 points to 18,619 as crude oil prices continued to rise. Nasdaq climbed 24 points to 5,229. 


Chinese e-commerce juggernaut Alibaba Group reported an impressive 59% surge in first quarter revenue to $4.8 billion even as economic growth in the world's most populous country slowed. China's gross domestic product expanded by a modest 6.7% increase in the second quarter. To address the challenge of a slowing economy, Alibaba has broadened its business beyond online shopping to cloud computing services, online gaming, video streaming, and food delivery.


For the fifth time in a year, animal rights activists infiltrated Tyson Foods' chicken processing facilities to record mistreatment of chickens. Compassion Over Killing released a video that shows employees throwing, kicking, and running over chickens with forklifts. Tyson has fired ten workers from the facilities and declared their actions inexcusable.


Brick and mortar retailers continue to suffer as more consumers shop online. Kohl's reported a 1.8% drop in same store sales in the second quarter as earnings fell 2%. Comparable store sales dropped 2% for Macy's. Online sales surged to $341.7 billion in 2015, accounting for 7.3% of all retail sales.


In the broad market, advancing issues outpaced decliners by a margin of nearly 2 to 1 on the NYSE and by more than 2 to 1 on Nasdaq. The broader S&P 500 climbed 10 points to 2,186. Bitcoin slipped $2 to $588.

Upbeat earnings lift markets

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Upbeat earnings lifted the markets to a higher open with the Dow gaining 77 points to 18,573. Nasdaq rose 13 points to 5,217. 


On the upside


Macy's (NYSE: M) reported better than expected earnings for the second quarter and announced plans to close 100 stores.


Kura Oncology (Nasdaq: KURA) reported encouraging results from a Phase 2 trial of tipifarnib to treat HRAS mutant solid tumors.


Kohl's (NYSE: KSS) reported higher second quarter earnings that topped analyst estimates.


On the downside


Quorum Health (NYSE: QHC) fell to a loss for the second quarter.


Amarin (Nasdaq: AMRN) priced its public offering of 21.1 million American Depositary Shares at the discounted price of $2.85 per ADS.


Avinger (Nasdaq: AVGR) priced its public offering of 8.572 million common shares at the discounted price of $3.50 per share.


In the broad market, advancing issues outpaced decliners by a margin of more than 3 to 2 on the NYSE and by more than 7 to 5 on Nasdaq. The broader S&P 500 gained 6 points to 2,181. Bitcoin added $3 to $594.

Lower close as crude oil slips

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A drop in crude oil prices weighed the markets down to a lower close with the Dow losing 37 points to 18,495. Nasdaq dropped 20 points to 5,204. 


On the upside


DXP Enterprises (Nasdaq: DXPE) reported an unexpected profit for the second quarter.


Walter Investment Management (NYSE: WAC) named Anthony Renzi to the position of president and chief executive officer.


Healthways (Nasdaq: HWAY) reported a smaller than expected loss for the second quarter.


On the downside


Seeking Alpha expects Nymox Pharmaceutical's (Nasdaq: NYMX) stock price to drop to zero and recommended that investors short the stock.


Tidewater (NYSE: TDW) widened first quarter losses more than expected and warned that it may file for Chapter 11 bankruptcy protection.


Orbital ATK (NYSE: OA) blamed accounting errors for delaying the release of its second quarter results and will have to restate financials for the previous fiscal year, the nine month transition period ended December 31, 2015 as well as the quarters in the transition period.


In the broad market, declining issues outpaced advancers by a margin of 5 to 4 on the NYSE and by 2 to 1 on Nasdaq. The broader S&P 500 fell 6 points to 2,175. Bitcoin climbed $8 to $591.

Oil inventory climbs

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Falling crude oil prices weighed the markets down during the midday with the Dow falling 36 points to 18,496. Nasdaq lost 18 points to 5,206. 


The nation's inventory of crude oil unexpectedly rose by 1.1 million barrels last week sending crude oil prices lower. The Organization of Petroleum Exporting Countries announced yesterday that an informal meeting will be held in September to discuss different strategies to address low prices. Saudi Arabia, OPEC's largest exporter, produced a record 10.67 million barrels of crude oil per day in July which raised concerns that a production freeze would be unlikely.


Sony will begin selling its Z Series 65-inch 4K Ultra HD TV at Video & Audio Center in Woodland Hills, CA tomorrow. The 75-inch model will be on display. Orders will be taken for larger model. The 65-inch model is priced at $5,999.99 while the larger model will cost $9,999.99. A 100-inch model will  be available soon.


GoPro will release its Omni 360-degree virtual reality camera on August 17 with a price tag of $5,000. The Omni was created using six GoPro cameras inside an aluminum rig to film 360-degree videos. Editing software is included.


In the broad market, declining issues outpaced advancers by a margin of more than 5 to 4 on the NYSE and by more than 5 to 3 on Nasdaq. The broader S&P 500 lost 6 points to 2,175. Bitcoin soared $11 to $594.

Mixed open as crude oil slips

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The markets opened mixed with the Dow rising 6 points to 18,539 while Nasdaq lost 11 points to 5,214 as crude oil prices slipped. 


On the upside


Second quarter revenue surged for OpGen (Nasdaq: OPGN).


Clean Energy Fuels (Nasdaq: CLNE) reversed year ago losses to post a profit for the second quarter as revenue rose.


Yelp (NYSE: YELP) swung to a better than expected profit for the second quarter.


On the downside


SunPower (Nasdaq: SPWR) fell to a second quarter loss and announced that it would eliminate 1,200 jobs prompting downgrades.


Fourth quarter earnings for Myriad Genetics (Nasdaq: MYGN) fell short of expectations prompting the molecular diagnostics company to lower its full year forecast.


Perrigo (NYSE: PRGO) disappointed with second quarter earnings that missed estimates and forecast full year earnings below expectations.


In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 4 on the NYSE while decliners edged out advancers by 7 to 5 on Nasdaq. The broader S&P 500 slipped a point to 2,180. Bitcoin climbed $9 to $592.

Flat close as productivity slips

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The markets closed flat with the Dow adding 3 points to 18,533 as worker productivity slipped in the second quarter. Nasdaq rose 12 points to 5,225. 


On the upside


Castlight Health (NYSE: CSLT) narrowed losses for the second quarter as revenue rose.


Valeant Pharmaceuticals (NYSE: VRX) received an unsolicited offer for its core assets.


Endo International (Nasdaq: ENDP) swung to a profit for the second quarter as revenue climbed.


On the downside


Array BioPharma (Nasdaq: ARRY) development partner AstraZeneca (NYSE: AZN) reported disappointing results from a Phase III study of the lung cancer treatment selumetinib.


Manitowoc (NYSE: MTW) fell to a loss for the second quarter as revenue slipped.


TubeMogul (Nasdaq: TUBE) widened losses more than expected for the second quarter.


In the broad market, advancing issues outpaced decliners by a margin of more than 10 to 9 on the NYSE and by 9 to 7 on Nasdaq. The broader S&P 500 edged up a fraction to 2,181. Bitcoin lost $4 to $583.

NBC makes magical deal

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The markets extended its gains during the midday with the Dow advancing 51 points to 18,581. Nasdaq climbed 24 points to 5,237. 


For the third quarter in a row, U.S. productivity fell. Analysts expected employee output per hour to rise 0.4% in the second quarter. Instead, worker productivity dropped 0.5%.


NBCUniversal announced a deal with Warner Bros. for the rights to all eight "Harry Potter" films and the upcoming "Fantastic Beasts" films. The movies will be telecast on NBC's broadcast and cable channels beginning in July 2018. The deal includes the extended director cuts of the first two "Harry Potter" movies as well as the documentary "When Harry Left Hogwarts" which provides an insider view during production of the last two films.


For the second day in a row, Delta has cancelled hundreds of flights as the airliner struggles to recover from a power outage early yesterday morning. The outage caused a computer system failure which grounded flights for more than six hours early Monday morning. Refunds are being offered to passengers whose flights were cancelled or flights that have been delayed for more than three hours.


In the broad market, advancing issues outpaced decliners by a margin of 10 to 9 on both the NYSE and on Nasdaq. The broader S&P 500 added 2 points to 2,183. Bitcoin slipped $2 to $585.

The markets opened higher with the Dow gaining 38 points to 18,567 as crude oil prices rose again. Nasdaq climbed 17 points to 5,230. 


On the upside


Randstad Holding offered a premium of approximately $429 million to acquire Monster Worldwide (NYSE: MWW).


Resolute Energy (NYSE: REN) narrowed losses for the second quarter.


Health Insurance Innovations (Nasdaq: HIIQ) reversed year ago losses to post a profit for the second quarter.


On the downside


MaxLinear (NYSE: MXL) swung to a profit for the second quarter but revenue fell short of expectations and the company forecast current quarter revenue below estimates.


Impax Laboratories (Nasdaq: IPXL) widened second quarter losses more than expected as revenue dropped.


Wayfair (Nasdaq: W) widened losses for the second quarter more than expected.


In the broad market, advancing issues outpaced decliners by a margin of 3 to 2 on the NYSE and by more than 7 to 5 on Nasdaq. The broader S&P 500 rose 3 points to 2,184. Bitcoin slipped $1 to $586.

The markets closed modestly lower with the Dow losing 14 points to 18,529 even as crude oil prices rose. Nasdaq slipped 7 points to 5,213. 


On the upside


California Resources (NYSE: CRC) increased its offer to purchase outstanding notes from $525 million to $750 million.


MEI Pharma (Nasdaq: MEIP) entered an exclusive licensing, development and commercialization agreement with Helsinn for the acute myeloid leukemia treatment Pracinostat.


Sanchez Energy (NYSE: SN) narrowed second quarter losses more than expected.


On the downside


Investors locked in profits on Check-Cap (Nasdaq: CHEK).


AMN Healthcare Services (NYSE: AHS) extended its losses.


Ceragon Networks (Nasdaq: CRNT) disappointed with lower second quarter earnings and revenue.


In the broad market, advancing issues outpaced decliners by a margin of 9 to 7 on the NYSE while advancers edged out decliners by more than 10 to 9 on Nasdaq. The broader S&P 500 slipped a point  to 2,180. Bitcoin eased a fraction to $588.

Walmart buys Jet.com

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The markets slipped during the midday with the Dow falling 25 points to 18,518. Nasdaq lost 12 points to 5,208. 


Walmart finalized a $3.3 billion cash and stock deal to acquire e-commerce site Jet.com to boost its sluggish online sales. In the first quarter, Walmart reported a disappointing 7% growth in online sales. Jet.com has achieved $1 billion in run-rate Gross Merchandise Value in its first year in business.


U.S. destination ski resort operator Vail Resorts made an unsolicited $1 billion offer to acquire Canadian Whistler Blackcomb Holdings. Whistler Blackcomb boasts one of the longest ski seasons in the world with lifts open from November to May. The site of the Vancouver 2010 Winter Olympics is also famous for its Whistler Mountain Bike Park during the summer.


An appeals court in Manhattan has blocked the enforcement of a judgment against Chevron. Residents of the Lago Agrio region of Ecuardor won an $8.6 billion pollution liability case against Chevron for soil and water contamination allegedly committed by Texaco between 1964 and 1992. Chevron acquired Texaco in 2001.


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 lost 2 points  to 2,180. Bitcoin edged up to $589.

The markets opened lower with the Dow losing 14 points to 18,528 as investors monitor earnings. Nasdaq fell 13 points to 5,208. 


On the upside


South African furniture retailer Steinhoff International Holdings will pay a premium of approximately $2.4 billion to acquire Mattress Firm Holding (Nasdaq: MFRM).


Image Sensing Systems (Nasdaq: ISNS) reported higher second quarter earnings and revenue.


ZergWatch identified Heat Biologics (Nasdaq: HTBX) as a hot pharmaceutical.


On the downside


Second quarter earnings fell short of expectations for Dean Foods (NYSE: DF).


Credit Suisse downgraded Bristol-Myers Squibb (NYSE: BMY) from an Outperform rating to a Neutral rating and slashed its price target from $86 to $63.


Investors continued to lock in profits on SAExploration Holdings (Nasdaq: SAEX).


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 lost 2 points  to 2,180. Bitcoin edged up to $589.

A strong jobs report sent the markets soaring to a sharply higher close with the Dow leaping 191 points to 18,543. Nasdaq soared 54 points to 5,221. 


On the upside


Lantheus Holdings (Nasdaq: LNTH) reversed year ago losses to post a stronger than expected profit for the second quarter.


PTC Therapeutics (Nasdaq: PTCT) reported a smaller than expected loss for the second quarter as revenue soared.


Freshpet (Nasdaq: FRPT) widened losses for the second quarter but revenue climbed.


On the downside


Computer Programs & Systems (Nasdaq: CPSI) disappointed with sharply lower second quarter earnings.


Second quarter earnings plunged for Sierra Wireless (Nasdaq: SWIR).


Encore Capital Group (Nasdaq: ECPG) reported higher second quarter earnings and revenue but the stock price fell.


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 18 points  to 2,182. Bitcoin gained $6 to $573.

Amazon expands

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A gain in average hourly earnings lifted the markets during the midday with the Dow surging 147 points to 18,499. Nasdaq soared 51 points to 5,218. 


Four years ago, Target stopped selling Amazon devices over concerns that the online retailer would syphon-off customers. Now that Amazon boasts 244 million active users, Target has reconsidered its position. By offering Amazon devices both online and at its brick and mortar stores, Target hopes attract those consumers.


Amazon will debut its very first Amazon branded Boeing 767 at Seattle's Seafairer summer festival today. The online retailer has 11 dedicated airplanes that delivery packages for its Prime members. Amazon One will fly over Lake Washington before the Blue Angels demonstration team.


American Airlines reached an interim agreement with the TWU-IAM Association to raise wages by an average of 22%. The association is an alliance of 12 unions covering ground workers. The increases will cost the airline $75 million in pre-tax expenses in the third quarter and $120 million in the fourth quarter.


In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 2 on the NYSE and by nearly 3 to 1 on Nasdaq. The broader S&P 500 climbed 14 points  to 2,178. Bitcoin rose $3 to $570.

Strong jobs report lifts markets

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The nation added a strong 255,000 jobs in July to lift the markets to a sharply higher open with the Dow surging 147 points to 18,499. Nasdaq soared 51 points to 5,218. 


On the upside


Pacific Biosciences of California (Nasdaq: PACB) reported a smaller than expected loss for the second quarter and released updates for the Sequel System.


MasTec (NYSE: MTZ) reversed year ago losses to post a stronger than expected profit for the second quarter and lifted its full year forecast.


The Wall Street Journal reported that Rackspace Hosting (NYSE: RAX) was close to finalizing a deal to be taken private.


On the downside


Bristol-Myers Squibb (NYSE: BMY) reported disappointing results from a Phase 3 study of Opdivo to treat non-small cell lung cancer.


Hortonworks (Nasdaq: HDP) widened second quarter losses more than expected.


FireEye (Nasdaq: FEYE) reported a wider than expected loss for the second quarter and announced that it will eliminate between 300 to 400 jobs.


In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 2 on the NYSE and by nearly 3 to 1 on Nasdaq. The broader S&P 500 climbed 14 points  to 2,178. Bitcoin rose $3 to $570.

It was a flat close for the markets with the Dow slipping 2 points to 18,352 after the Bank of England issued a bleak forecast for the post-Brexit U.K. economy. Nasdaq added 5 points to 5,166. 


On the upside


SAExploration Holdings (Nasdaq: SAEX) reported a profit for the second quarter.


Pacira Pharmaceuticals (Nasdaq: PCRX) fell to a loss for the second quarter but revenue climbed to top analyst estimates.


Insulet (Nasdaq: PODD) narrowed losses for the second quarter as revenue climbed.


On the downside


Ciber (NYSE: CBR) fell to a second quarter loss as revenue dropped.


Bravo Brio Restaurant Group (Nasdaq: BBRG) dropped to a loss for the second quarter as revenue fell.


Second quarter revenue plunged for Hornbeck Offshore Services (NYSE: HOS) and the company posted a loss.


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 a slim margin on Nasdaq. The broader S&P 500 edged up a fraction to 2,164. Bitcoin added $1 to $566.

e-Commerce and clickbait

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The markets traded mixed during the midday with the Dow losing 10 points to 18,344 as crude oil prices and jobless claims both rose. Nasdaq gained 10 points to 5,170. 


The Bank of England provided a sober outlook of the post-Brexit U.K. economy. Inflation is expected to climb 2.4% by the end of 2018 while output will drop by 2.5%. Approximately 250,000 jobs will be lost. As part of its efforts to prevent a recession, the BOE cut interest rates to record low of 0.25% and will begin a new round of quantitative easing.


Walmart is exploring the possible acquisition of Jet.com to jumpstart its e-commerce business. The world's largest retailer reported $485.7 billion in revenue for 2015 with only $13.7 billion from online sales. Concerns were raised about Walmart's e-commerce strategy when the company reported a modest 7% growth in online sales in the first quarter.


Facebook is engaging in another campaign to reduce clickbait in News Feed. The social network has identified two main categories of clickbait headlines and will use algorithms to identify and reduce the distribution of clickbait headlines. The changes will improve user experience and encourage people to stay on Facebook longer.


In the broad market, advancing issues outpaced decliners 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 edged up a fraction to 2,164. Bitcoin rose $4 to $569.

The markets opened flat with the Dow losing 7 points to 18,347 as jobless claims edged up. Nasdaq slipped 5 points to 5,154. 


On the upside


Check-Cap (Nasdaq: CHEK) entered an agreement with GE Healthcare to develop and validate high-volume manufacturing for X-ray source production and assembly into Check-Cap's capsule.


The Food and Drug Administration issued a letter to Ocular Therapeutix (Nasdaq: OCUL) affirming that corrective actions taken by the company had addressed concerns that were raised in the Form FDA 483 with one remaining item to be addressed.


XPO Logistics (NYSE: XPO) reversed year ago losses to post a stronger than expected profit for the second quarter.


On the downside


Sangamo Biosciences (Nasdaq: SGMO) widened second quarter losses as revenue tumbled.


Second quarter earnings dropped for Inovalon (Nasdaq: INOV).


CF Industries (NYSE: CF) disappointed with sharply lower second quarter earnings.


In the broad market, advancing issues outpaced decliners 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 2 points to 2,161. Bitcoin climbed $9 to $574.

The markets closed higher with the Dow gaining 41 points to 18,355 as the nation's private employers added more jobs than expected in July. Nasdaq climbed 22 points to 5,159. 


On the upside


3D Systems (NYSE: DDD) narrowed second quarter losses more than expected.


Bargain hunters lifted shares of Ocean Power Technologies (Nasdaq: OPTT).


Shares of Advaxis (Nasdaq: ADXS) continued to soar.


On the downside


Second quarter revenue dropped for Crocs (Nasdaq: CROX) and the company cut its full year forecast.


Chef's Warehouse (Nasdaq: CHEF) fell to a loss for the second quarter.


Electro Scientific Industries (Nasdaq: ESIO) reported a loss for the first quarter.


In the broad market, advancing issues outpaced decliners by a margin of nearly 2 to 1 on both the NYSE and on Nasdaq. The broader S&P 500 gained 6 points to 2,163. Bitcoin soared $14 to $565.

Companies realign to boost profits

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The markets advanced during the midday with the Dow gaining 25 points to 18,339. Nasdaq rose 9 points to 5,147. 


Samsung Electronics is reportedly interested in acquiring auto parts maker Magneti Marelli, which is affiliated with Fiat Chysler. Specifically, Samsung would like to purchase the in-car entertainment and telematics business of Magneti Marelli but would be willing to buy the entire company. Fiat rejected a $2.8 billion acquisition offer last month from a U.S. buyout fund.


Prompted by a drop in second quarter earnings, Time Warner paid $583 million for a 10% stake in video streaming service Hulu. Hulu will begin streaming Adults Swim, Boomerang ,CNN, Cartoon Network, TNT, TBS, truTV, and Turner Classic Movies live. HBO, which is also owned by Time Warner, is not part of the deal.


While Office Depot swung to a profit for the second quarter, its international business reported an operating loss of $10 million. The office supplies retailer has initiated a process to sell its European business and announced plans to close 300 stores domestically. The Board of Directors also declared its first quarterly cash dividend of $0.025 per share payable on September 15, 2016 to shareholders of record on August 15, 2016.


In the broad market, advancing issues outpaced decliners 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 rose 3 points to 2,160. Bitcoin rose $6 to $558.

Higher open as oil rebounds

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The markets opened higher with the Dow rising 16 points to 18,329 as crude oil prices rebounded. Nasdaq added 3 points to 5,141. 


On the upside


Magellan Petroleum (Nasdaq: MPET) entered a merger agreement with Tellurian Investments.


Vector Capital will take Sizmek (Nasdaq: SZMK) in an all cash deal valued at approximately $113.6 million.


Genworth Financial (NYSE: GNW) swung to a better than expected profit for the second quarter.


On the downside


the Rubicon Project (NYSE: RUBI) forecast current quarter results that fell short of analyst expectations.


Kate Spade (NYSE: KATE) cut its full year forecast.


Cray (Nasdaq: CRAY) fell to a greater than expected loss for the second quarter.


In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 4 on both the NYSE and on Nasdaq. The broader S&P 500 held steady at 2,157. Bitcoin lost $2 to $548.

The markets closed sharply lower with the Dow tumbling 90 points to 18,313 over disappointment that Japan's economic stimulus package was lower than anticipated. Nasdaq plunged 46 points to 5,137. 


On the upside


Shares of Seanergy Maritime Holdings (Nasdaq: SHIP) more than doubled on no news.


Consumer Eagle suggested that investors buy Sino-Global Shipping (Nasdaq: SINO).


Mallinckrodt (NYSE: MNK) reported higher third quarter earnings and revenue that beat analyst expectations prompting the company to lift its full year forecast.


On the downside


Endurance International Group Holdings (Nasdaq: EIGI) widened losses for the second quarter.


Inteliquent (Nasdaq: IQNT) reported lower second quarter earnings that fell short of expectations even as revenue surged.


Second quarter earnings tumbled for Medallion Financial (Nasdaq: MFIN).


In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 2 on the NYSE and by nearly 3 to 1 on Nasdaq. The broader S&P 500 dropped 13 points to 2,157. Bitcoin plunged $48to $565.

Global economic concerns sent the markets tumbling during the midday with the Dow plunging 102 points to 18,302. Nasdaq plummeted 43 points to 5,141. 


Imax signed a deal with Wanda Cinema Line to expand its presence in China by building an additional 150 theaters. Imax will have a total of 742 theaters once construction is complete. Each screen in China averaged $325,300 in the second quarter while North American screens averaged $225,900.


U.S. automakers reported lower sales in July with General Motors posting a 1.9% drop while Ford sales fell 2.8%. Nissan reported a 1.2% gain. Sales of Honda vehicles climbed an impressive 4.4%. The average price of a new vehicle rose 2.5% from last year to $34,264.


Instagram introduced its new Instagram Stories feature which allows users to post photos and videos that disappear after 24 hours. The new format copies Snapchat Stories. Instagram has approximately 500 million monthly active users and 300 million daily active users, about twice as many daily users that Snapchat has.


In the broad market, declining issues outpaced advancers by a margin of nearly 4 to 1 on the NYSE and by nearly 2 to 1 on Nasdaq. The broader S&P 500 tumbled 15 points to 2,155. Bitcoin plunged $38 to $576.

Japan announced a $274 billion economic stimulus package that was lower than expected sending the markets down to a lower open with the Dow dropping 84 points to 18,320. Nasdaq tumbled 35 points to 5,148. 


On the upside


Advaxis (Nasdaq: ADXS) entered a $40 million global development and commercialization agreement with Amgen for the immunotherapy treatment ADXS-NEO.


Avon Products (NYSE: AVP) reported better than expected second quarter earnings and revenue.


Second quarter earnings and revenue climbed for SodaStream International (Nasdaq: SODA) to surpass analyst expectations.


On the downside


Cobalt International Energy (NYSE: CIE) widened second quarter losses more than expected.


Second quarter revenue for Texas Roadhouse (Nasdaq: TXRH) fell short of expectations.


Integrated Devices Technology (Nasdaq: IDTI) disappointed with lower first quarter earnings.


In the broad market, declining issues outpaced advancers by a margin of more than 2 to 1 on the NYSE and by a margin of 3 to 2 on Nasdaq. The broader S&P 500 dropped 13 points to 2,157. Bitcoin fell $10 to $603.

The markets closed mixed with the Dow falling 27 points to 18,404 as June construction spending slipped 0.6%. Nasdaq gained 22 points to 5,184. 


On the upside


Trina Solar (Nasdaq: TSL) will be taken private by a consortium in a deal valued at approximately $1.1 billion.


Citigroup initiated coverage of Etsy (Nasdaq: ETSY) with a Buy rating and a price target of $14.


MeetMe (Nasdaq: MEET) reported higher second quarter earnings and revenue that beat analyst expectations.


On the downside


Shares of Hutchinson Technology (Nasdaq: HTCH) fell for the fourth day.


Inotek Pharmaceuticals (Nasdaq: ITEK) will offer $50 million in convertible senior notes.


Second quarter revenue for Insperity (NYSE: NSP) fell short of analyst expectations.


In the broad market, declining issues outpaced advancers by a margin of more than 7 to 5 on the NYSE while advancers barely edged out decliners by a slim margin on Nasdaq. The broader S&P 500 slipped 2 points to 2,170. Bitcoin dropped $12 to $614.

The markets traded mixed during the midday with the Dow losing 33 points to 18,398 as expansion of manufacturing activity slowed in July. Nasdaq rose 17 points to 5,179. 


Tesla offered approximately $2.6 billion in stock to acquire SolarCity. The deal is part of Tesla chief executive Elon Musk's plan to vertically integrate Tesla's battery storage unit with SolarCity's solar panel business. The two companies expect to recognize $150 million in cost savings in the first year as a combined business.


After two years of fierce competition, Uber will sell its Chinese operations to Didi Chuxing. Didi Chuxing will run Uber China as a separate brand and invest $1 billion in Uber Global while Uber will receive a stake in the combined company. The new company will have a valuation of approximately $35 billion.


Verizon plans to expand into the fleet and mobile workforce management business by acquiring Fleetmatics. Fleetmatics develops software to monitor vehicle location, fuel usage, speed and mileage in order for businesses to better manage their mobile workforce. The all-cash deal valued at approximately $2.4 billion is expected to close in the fourth quarter.


In the broad market, declining issues outpaced advancers by a margin of nearly 3 to 2 on the NYSE while decliners barely edged out advancers by a slim margin on Nasdaq. The broader S&P 500 lost 3 points to 2,170. Bitcoin dropped $10 to $616.

Merger news lifts markets

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The markets opened higher with the Dow rising 16 points to 18,448 over corporate consolidations. Nasdaq gained 31 points to 5,193. 


On the upside


Top Ships (Nasdaq: TOPS) swung to a profit for the first six months of 2016.


Verizon (NYSE: VZ) will pay a premium of approximately $2.4 billion in cash to acquire Fleetmatics Group (NYSE: FLTX).


Ionis Pharmaceuticals (Nasdaq: IONS) reported positive results from a late-stage clinical trial of nusinersen to treat infants with spinal muscular atrophy which triggered a $75 million payment from Biogen (Nasdaq: BIIB).


On the downside


Keryx Biopharmaceuticals (Nasdaq: KERX) withdrew its full year forecast citing a production issue with its kidney disease treatment Auryxia that will delay delivery of the drug until the fourth quarter.


KLR Group cut its price target on Whiting Petroleum (NYSE: WLL) from $18 to $15.


Investors locked in profits on WPX Energy (NYSE: WPX).


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 2 points to 2,176. Bitcoin fell $5 to $621.

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