October 2016 Archives

Consumer spending climbed more than expected but the markets closed lower with the Dow losing 18 points to 18,142 as crude oil prices extended their losses. Nasdaq eased a fraction to 5,189.


On the upside


Bloomberg reported that Brocade Communications Systems (Nasdaq: BRCD) was in advanced discussions to sell itself.


Loeb Holding offered to acquire the Pet Health Monitoring Segment of Intersections (Nasdaq: INTX).


Ophthotech (Nasdaq: OPHT) reported positive results from a Phase 2b study of Fovista in combination with Lucentis to treat wet age-related macular degeneration.


On the downside


Lumber Liquidators (NYSE: LL) widened losses for the third quarter.


Bloomberg reported that former Valiant Pharmaceuticals (NYSE: VRX) chief executive Michael Pearson and former chief financial officer Howard Schiller were being investigated for fraud.


Shares of Opera Therapeutics (Nasdaq: OPXA) extended its losses.


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 nearly 10 to 9 on Nasdaq. The broader S&P 500 held steady at 2,126. Bitcoin added $2 to $699.

The markets traded flat during the midday with the Dow adding 2 points to 18,163. Nasdaq rose 4 points to 5,194.


General Electric will merge its oil and gas business with Baker Hughes to create a new publicly traded company with annual revenue of approximately $32 billion. Current Baker Hughes shareholders will own 37.5% of the new company and receive a one-time cash dividend of $17.50 per share. Current GE shareholders will own 62.5% of the new company.


Performance Sports Group filed for bankruptcy protection in the United States and Canada. The sports equipment retailer will sell most of its assets to an investor group led by Sargard Capital for $575 million. Business operations are expected to continue as normal while the bankruptcy proceeds.


Tesla chief executive Elon Musk unveiled rooftop solar panels that look like normal roof tiles and shingles. The tiles are made of textured glass that appear to be ordinary shingles with solar cells underneath. The efficiency of the solar cells were reduced by a mere 2% by the textured glass. Musk expects to increase efficiency with improved engineering designs.


In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 4 on the NYSE while decliners outpaced advancers by nearly 10 to 9 on Nasdaq. The broader S&P 500 rose 3 points to 2,129. Bitcoin gained $3 to $700.

The markets opened modestly higher with the Dow adding 4 points to 18,165 as consumer spending rebounded in September. Nasdaq rose 9 points to 5,199.


On the upside


Blackstone Group will take Team Health Holdings (NYSE: TMH) private in a deal valued at approximately $6.1 billion.


Bargain hunters lifted shares of Senomyx (Nasdaq: SNMX).


InvenSense (NYSE: INVN) has hired a financial advisor to evaluate potential suitors.


On the downside


Memorial Production Partners (Nasdaq: MEMP) suspended its quarterly cash distributions.


Zimmer Biomet Holdings (NYSE: ZBH) reported higher third quarter earnings and revenue but the company cut its full year revenue forecast and trimmed the high end of its full year earnings outlook.


CenturyLink (NYSE: CTL) will acquire Level 3 Communications (Nasdaq: LVLT) in a deal valued at approximately $34 billion including the assumption of debt.


In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 4 on the NYSE while decliners outpaced advancers by more than 10 to 9 on Nasdaq. The broader S&P 500 rose 3 points to 2,129. Bitcoin gained $3 to $700.

Lower close as crude oil falls

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Despite a strong gain in the nation's economy, the markets closed lower with the Dow slipping 8 points to 18,161 as crude oil prices fell. Nasdaq dropped 25 points to 5,190. 


On the upside


Shares of BlackLine (Nasdaq: BL) surged in its market debut.


Gravity (Nasdaq: GRVY) reversed year ago losses to post a profit for the third quarter as revenue soared.


Applied Micro Circuits (Nasdaq: AMCC) narrowed second quarter losses more than expected.


On the downside


Senomyx (Nasdaq: SNMX) widened third quarter losses as revenue fell.


StoneMor Partners (NYSE: STON) slashed its quarterly cash distribution in half to 33 cents per common unit.


Synaptics (Nasdaq: SYNA) disappointed with sharply lower first quarter earnings that missed expectations.


In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 4 on the NYSE while advancers barely edged out decliners by a slim margin on Nasdaq. The broader S&P 500 fell 6 points 2,126. Bitcoin gained $6 to $683.

Mondelez recalls Oreo Fudge Cremes

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The markets retreated during the midday with the Dow falling 32 points to 18,136. Nasdaq lost 16 points to 5,199. 


Mondelez International recalled two different flavors of Oreo Fudge Cremes that are sold in the United States. Certain batches of mint flavored and original Oreo Fudge Cremes lack a milk allergen warning on their packaging. Consumers with milk allergies may suffer a serious reaction if they eat the Oreos.


BMW recalled 154,472 vehicles in the United States and Canada in order to replace a fuel pump module. The defective module could cause a vehicle to stall. The recall covers certain vehicles for model years 2007 to 2012. No injuries have been reported due to the defective part.


Johnson & Johnson must pay a woman $70 million in a lawsuit over the company's baby powder. The 62-year old plaintiff alleged that her use of talcum powder over 40 years caused her ovarian cancer. The American Cancer Society has said that studies into the link between cancer and talc have been mixed.


In the broad market, declining issues outpaced advancers by a margin of more than 10 to 9 on the NYSE while advancers barely edged out decliners by a slim margin on Nasdaq. The broader S&P 500 fell 7 points 2,125. Bitcoin climbed $7 to $685.

Higher open as GDP grows by 2.9%

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The nation's economy expanded at a strong 2.9% in the third quarter to lift the markets to a higher open with the Dow climbing 63 points to 18,233. Nasdaq rose 13 points to 5,229. 


On the upside


Gigamon (NYSE: GIMO) reported higher third quarter earnings that topped analyst estimates.


Cloud Peak Energy (NYSE: CLD) reported a smaller than expected loss for the third quarter.


Chicago Bridge & Iron (NYSE: CBI) reversed year ago losses to post a profit for the third quarter.


On the downside


McKesson (NYSE: MCK) disappointed with sharply lower second quarter earnings and cut its full year earnings outlook.


Opexa Therapeutics (Nasdaq: OPXA) reported disappointing results from a Phase 2b Abili-T clinical trial of Tcelna in patients with secondary progressive multiple sclerosis.


Novo Nordisk (NYSE: NVO) slashed its long term profit growth forecast.


In the broad market, advancing issues outpaced decliners by a margin of 9 to 7 on the NYSE and by more than 10 to 9 on Nasdaq. The broader S&P 500 gained 5 points 2,138. Bitcoin gained $3 to $681.

A 0.1% drop in September durable goods orders weighed the markets down to a lower close with the Dow losing 29 points to 18,169. Nasdaq dropped 34 points to 5,215. 


On the upside


TTM Technologies (Nasdaq: TTMI) swung to a better than expected profit for the third quarter.


Level 3 Communications (NYSE: LVLT) engaged in advanced negotiations to merge with CenturyLink (NYSE: CTL).


Ocwen Financial (NYSE: OCN) reversed year ago losses to post a profit for the third quarter.


On the downside


GNC Holdings (NYSE: GNC) disappointed with lower third quarter earnings and revenue that fell short of analyst expectations.


Cliffs Natural Resources (NYSE: CLF) fell to an unexpected loss for the third quarter as revenue slipped.


Carbo Ceramics (NYSE: CRR) widened losses for the third quarter.


In the broad market, declining issues outpaced advancers by a margin of more than 5 to 2 on the NYSE and by 2 to 1 on Nasdaq. The broader S&P 500 lost 6 points 2,133. Bitcoin gained $5 to $678.

Qualcomm to buy NXP Semiconductor

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The markets traded mixed during the midday with the Dow rising 17 points to 18,217 while Nasdaq lost 12 points to 5,237. 


Qualcomm will acquire fellow chipmaker NXP Semiconductors for a premium of approximately $38.5 billion. Qualcomm designs chips for smartphones while NXP makes chips for near-field communications. The deal is expected to close by the end of 2017.


Belgium has ended its opposition to the EU-Canada free trade agreement with a compromise. A four-page addendum to the agreement was drafted to address regional concerns. Ambassadors from all 28 EU members approved the addendum.


United Parcel Service ordered 14 Boeing 474-8 cargo jets for approximately $5.3 billion to expand their operations. The package delivery service will take delivery of the aircraft over a three year period beginning next year. The new aircraft will be used on international routes.


In the broad market, declining issues outpaced advancers by a margin of more than 2 to 1 on the NYSE and by more than 9 to 7 on Nasdaq. The broader S&P 500 edged up a fraction to 2,140. Bitcoin gained $7 to $680.

First time applications for unemployment benefits dropped but the markets opened lower with the Dow slipping 18 points to 18,180. Nasdaq fell 15 points to 5,234. 


On the upside


ProQR Therapeutics (Nasdaq: PRQR) reported positive results from a proof of concept study of PQ-010-002.


ServiceNow (NYSE: NOW) narrowed third quarter losses more than expected as revenue climbed.


Western Digital (Nasdaq: WDC) reported a smaller than expected loss for the first quarter.


On the downside


AK Steel Holding (NYSE: AKS) priced its offering of 65 million common shares at the discounted price of $4.90 per share.


Groupon (Nasdaq: GRPN) widened losses for the third quarter and announced plans to acquire competitor LivingSocial.


Community Health (NYSE: CYH) warned of losses for the third quarter.


In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 3 on the NYSE and by 10 to 9 on Nasdaq. The broader S&P 500 fell 4 points 2,135. Bitcoin gained $7 to $680.

Mixed close on crude oil concerns

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The markets closed mixed with the Dow rising 30 points to 18,199 over crude oil concerns. Nasdaq dropped 33 points to 5,250. 


On the upside


Legacy Reserves (Nasdaq: LGCY) executed a second lien term loan credit agreement for $300 million.


Unisys (NYSE: UIS) reported a narrower than expected loss for the third quarter.


NCR (NYSE: NCR) reported higher third quarter earnings and revenue that beat expectations.


On the downside


NuVasive (Nasdaq: NUVA) disappointed with third quarter earnings and revenue that missed estimates.


Third quarter earnings and revenue climbed for GrubHub (NYSE: GRUB) but the number of active customers fell short of expectations.


Diplomat Pharma (NYSE: DPLO) president Gary Kadlec will retire on December 31, 2016 and chief financial officer Sean Whelan will leave the company on December 31, 2016.


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 2 Nasdaq. The broader S&P 500 lost 3 points 2,139. Bitcoin soared $16 to $672.

Microsoft introduces Surface Studio

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The markets traded mixed during the jidda with the Dow gaining 44 points to 18,213. Nasdaq fell 30 points to 5,252. 


Microsoft announced a new desktop computer and a free Windows update. The Surface Studio with a touch screen has been tailored for designers and will cost $2,999 for the low end model. The Windows 10 Create Update will allow users to take three-dimensional pictures and edit them.


Reuters reported that Dr. Pepper Snapple Group engaged in discussions for a potential acquisition of antioxidant drink maker Bai Brands. Dr. Pepper Snapple already owns a minority stake in Bai Brands. Bai Brands will soon be accepting bids to buy the company.


Hearst will acquire Camp Systems for an undisclosed sum. Privately held Camp Systems tracks aircraft maintenance schedules for regulatory compliance. Hearst is a diversified media firm that owns stakes cable networks, newspapers, and magazines.  


In the broad market, declining issues outpaced advancers by a margin of more than 2 to 1 on the NYSE and by nearly 7 to 3 Nasdaq. The broader S&P 500 lost 3 points 2,139. Bitcoin surged $17 to $673.

The markets opened mixed with the Dow adding 2 points to 18,171 as U.S. crude inventories fell but concerns remained that OPEC would fail to cut output. Nasdaq lost 19 points to 5,263. 


On the upside


Akamai Technologies (Nasdaq: AKAM) reported better than expected earnings and revenue for the third quarter.


Juniper Networks (NYSE: JNPR) reported preliminary third quarter results that topped analyst estimates.


Logitech International (Nasdaq: LOGI) impressed with higher second quarter earnings and record revenue.


On the downside


Edwards Lifesciences (NYSE: EW) disappointed with third quarter revenue that fell short of expectations.


Southwest Airlines (NYSE: LUV) reported lower third quarter revenue that missed estimates.


Exact Sciences (Nasdaq: EXAS) reported a loss for the third quarter.


In the broad market, declining issues outpaced advancers by a margin of nearly 2 to 1 on the NYSE and by more than 7 to 5 Nasdaq. The broader S&P 500 lost 3 points 2,139. Bitcoin soared $11 to $668.

A drop in October consumer confidence weighed the markets down to a lower close with the Dow dropping 53 points to 18,169. Nasdaq fell 26 points to 5,283. 


On the upside


Clayton Williams Energy (NYSE: CWEI) will sell its assets in the Giddings Area in East Central Texas for approximately $400 million.


Towerstream (Nasdaq: TWER) will add 100 new buildings to its On-Net footprint in the fourth quarter.


Second Sight Medical Products (Nasdaq: EYES) announced the first successful implantation and activation of a wireless visual cortical stimulator in a human subject.


On the downside


Third quarter earnings for Nielsen Holdings (NYSE: NLSN) fell short of expectations and the company forecast full year earnings that missed estimates.


The Beacon Falls Energy Park project, which would FuelCell Energy's (Nasdaq: FCEL) fuel cell power plants, was not selected for contract negotiations for The New England Clean Energy Request for Proposals.


Superior Energy Services (NYSE: SPN) reported a wider than expected loss for the third quarter.


In the broad market, declining issues outpaced advancers by a margin of 3 to 2 on the NYSE and by nearly 5 to 2 Nasdaq. The broader S&P 500 fell 8 points 2,143. Bitcoin climbed $7 to $656.

10,000 webcams recalled

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The markets traded lower during the midday with the Dow falling 49 points to 18,174. Nasdaq dropped 28 points to 5,281. 


Hangzhou Xiongmai Technology will recall up to 10,000 surveillance cameras that were involved in a massive cyber attack last Friday. Hackers used devices such as webcams that have very little security to conduct a distributed denial of service attack that took down Twitter, Netflix and Spotify. The recall involves surveillance cameras that were made for consumers to monitor rooms or small businesses rather than for industrial purposes.


A cyber attack disrupted service for StarHub customers over the weekend. A distributed denial of service attack targeted the Singaporean telecom's domain name servers. The company countered the attacks by filtering traffic and increasing server capacity. Service was restored within two hours.


Volkswagen's record $14.7 billion emission scandal settlement has been approved by a federal judge. The German automaker will spend approximately $10 billion to buyback vehicles and compensate owners. The company must also spend $4.7 billion to offset excess emissions and support clean vehicle projects.


In the broad market, declining issues outpaced advancers by a margin of more than 5 to 3 on the NYSE and 5 to 2 Nasdaq. The broader S&P 500 fell 8 points 2,143. Bitcoin rose $6 to $655.

The markets opened flat with the Dow slipping 10 points to 18,212 as investors monitored earnings. Nasdaq lost 10 points to 5,299. 


On the upside


SAExploration Holdings (Nasdaq: SAEX) received approximately $2.4 million of tax credit certificates from Alaska and access to $15 million of its senior loan facility.


Baker Hughes (NYSE: BHI) reported a smaller than expected loss for the third quarter and expects to cut expenses by $650 million in 2016.


Third quarter earnings surged for AK Steel Holding (NYSE: AKS) to surpass analyst expectations.


On the downside


Dipexium Pharmaceuticals (Nasdaq: DPRX) reported disappointing results from a Phase 3 trial of its mild diabetic foot infection treatment Locilex.


Sonic (Nasdaq: SONC) disappointed with lower fourth quarter revenue that fell short of expectations.


Under Armour (NYSE: UA) reported higher third quarter earnings and revenue that topped analyst estimates but gross margins fell.


In the broad market, declining issues outpaced advancers by a margin of more than 9 to 7 on the NYSE and by more than 7 to 5 Nasdaq. The broader S&P 500 lost 3 points 2,148. Bitcoin gained $4 to $653.

The markets closed higher with the Dow gaining 77 points to 18,223 as investors welcomed merger and acquisition news. Nasdaq leaped 52 points to 5,309. 


On the upside


Bargain hunters lifted shares of Real Goods Solar (Nasdaq: RGSE).


Acco Brands (NYSE: ACCO) reported better than expected earnings for the third quarter.


The Lenovo ThinkCentre M715 Tiny and ThinkPad E475 and E575 featuring Advanced Micro Devices' (Nasdaq: AMD) AMD PRO APUs were introduced at the Canalys Channels Forum.


On the downside


The Food and Drug Administration placed a clinical hold on Inovio Pharmaceuticals' (Nasdaq: INO) Phase III program for VGX-3100.


Third quarter earnings plunged for Boise Cascade (NYSE: BCC).


Shares of Stone Energy (NYSE: SGY) extended its losses.


In the broad market, advancing issues outpaced decliners by a margin of more than 7 to 5 on both the NYSE and Nasdaq. The broader S&P 500 climbed 10 points 2,151. Bitcoin slipped $1 to $650.

Markets climb on M&A activity

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Merger and acquisition activity lifted the markets to a higher open with the Dow climbing 78 points to 18,224. Nasdaq soared 39 points to 5,296. 


On the upside


Unilife (Nasdaq: UNIS) completed its internal investigation into possible securities violations by former chief executive Alan Shortall and has found no financial loss to the company. With the investigation complete, the company has filed its delayed annual and first quarter financial reports.


B/E Aerospace (Nasdaq: BEAV) will be acquired by Rockwell Collins (NYSE: COL) for a premium of approximately $6.4 billion in cash and stock.


T-Mobile (Nasdaq: TMUS) reported higher third quarter earnings that topped analyst estimates and lifted its customer additions forecast.


On the downside


Tidewater (NYSE: TDW) received extensions of limited waivers from lenders and note holders.


China Oceanwide Holdings will pay approximately $2.7 billion in cash to acquire Genworth Financial (NYSE: GNW).


JPMorgan downgraded Ariad Pharmaceuticals (Nasdaq: ARIA) from a Neutral rating to an Underweight rating.


In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 2 on both the NYSE and Nasdaq. The broader S&P 500 climbed 10 points 2,151. Bitcoin eased to $651.

Mixed close over earnings news

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The markets closed mixed with the Dow losing 16 points to 18,145 while Nasdaq gained 15 points to 5,257 over mixed earnings news. 


On the upside


Helios and Matheson Analytics (Nasdaq: HMNY) stock nearly doubled on no news.


Shares of OpGen (Nasdaq: OPGN) climbed ahead of its third quarter earnings release after market close on Monday.


Concordia International (Nasdaq: CXRX) chief executive Mark L. Thompson will resign as soon as his successor is appointed.


On the downside


Shares of First NBC Bank Holding (Nasdaq: FNBC) continued to fall.


Southwestern Energy (NYSE: SWN) reported a loss for the third quarter.


Twilio (NYSE: TWLO) priced its follow-on offering of 7 million common shares at the discounted price of $40.00 per share.


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 held steady at 2,141. Bitcoin added $2 to $630.

The markets traded mixed during the midday with the Dow falling 32 points to 18,130 while Nasdaq gained 14 point to 5,256. 


As part of its emissions scandal settlement, Volkswagen will buy back 25,000 Audi diesel engine cars. The German automaker said that these older generation cars cannot be upgraded to comply with emissions standards. Volkswagen will also fix 85,000 Audis.


A cyber attack on systems that are run by Dyn on the East Coast of the U.S. took down many Internet sites early Friday morning. The distributed denial of service attack impacted Twitter, Netflix and Spotify. Dyn notified customers about the attack on its website.


Kodak is developing a smartphone with an exceptional camera. The Kodak Ektra will have a more powerful lens to take higher quality photos. The 21-megapixel camera will be equipped with optical image stabilization and auto focus. The device will be available later this year in Europe.


In the broad market, declining issues outpaced advancers by a margin of more than 5 to 4 on the NYSE and by more than 9 to 7 on Nasdaq. The broader S&P 500 slipped 2 points to 2,139. Bitcoin rose $3 to $631.

The markets opened lower with the Dow tumbling 94 points to 18,068 as crude oil prices slipped. Nasdaq eased a point to 5,240. 


On the upside


British American Tobacco offered to buy the 58% of Reynolds American (NYSE: RAI) that it does not already own.


PayPal Holdings (Nasdaq: PYPL) reported higher third quarter earnings and revenue.


Alkermes (Nasdaq: AKS) reported positive results from a Phase 3 trial of its major depressive disorder treatment ALKS 5461.


On the downside


Skechers (NYSE: SKX) reported third quarter earnings and revenue that fell short of analyst expectations and forecast current quarter results below estimates.


Advanced Micro Devices (Nasdaq: AMD) widened losses for the third quarter.


Stone Energy (NYSE: SGY) entered a restructuring support agreement with senior note holders.


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 lost 6 points to 2,134. Bitcoin added $2 to $630.

Lower close as jobless claims rise

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An increase in jobless claims weighed the markets down to a lower close with the Dow falling 40 points to 18,162. Nasdaq slipped 4 points to 5,241. 


On the upside


Shares of iRhythm Technologies (Nasdaq: IRTC) surged in its market debut.


Moleculin Biotech (Nasdaq: MBRX) will hold a conference call this afternoon to discuss important developments of its acute myeloid leukemia treatment Annamycin.


A Tier 1 US operator selected Ceragon Networks (Nasdaq: CRNT) as its primary wireless backhaul supplier.


On the downside


The Federal Reserve Bank of Atlanta and the Louisiana Office of Financial Institutions identified First NBC Bank Holding (Nasdaq: FNBC) as in a troubled condition.


Syntel (Nasdaq: SYNT) fell to a loss for the third quarter as revenue slipped.


Select Comfort (Nasdaq: SCSS) reported lower third quarter earnings and revenue that missed expectations and cut its full year forecast prompting a downgrade.


In the broad market, declining issues outpaced advancers by a margin of more than 9 to 7 on the NYSE and by more than 10 to 9 on Nasdaq. The broader S&P 500 slipped 2 points to 2,141. Bitcoin added $1 to $628.

Hyundai recalls 62,811 Sonata sedans

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The markets traded mixed during the midday with the Dow adding 10 points to 18,212. Nasdaq eased a fraction to 5,245. 


Hyundai issued a recall for 62,811 model years 2015 and 2016 Sonata sedans. Vehicle owners complained that the panoramic sunroof detached while driving. No injuries or crashed have been reported. Hyundai will fix a defective wind deflector.


Nintendo unveiled its new video game console Nintendo Switch which can be used at home like a traditional console or used as a portable device. At home, the tablet-like device can be docked while players use a handheld gamepad to play games. Players can also attach controllers to the tablet and play on the go. The Switch will be available March 2017.


All new Tesla vehicles will come equipped with the necessary hardware to safely drive themselves. Tesla is the first automaker to produce fully autonomous vehicles. The electric vehicle maker cautioned that the autonomous features will not be fully functional until federal and state regulators enact laws governing the use of self driving cars.


In the broad market, declining issues outpaced advancers 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 eased a fraction to 2,143. Bitcoin added $1 to $628.

Lower open as jobless claims rise

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The markets opened lower with the Dow falling 41 points to 18,161 as first time applications for unemployment benefits rose. Nasdaq dropped 19 points to 5,227. 


On the upside


DragonWave (Nasdaq: DRWI) will supply its microwave backhaul equipment for Sprint's network densification and optimization strategy.


American Express (NYSE: AXP) reported better than expected earnings for the third quarter and lifted its full year forecast.


SkyPeople Fruit Juice (Nasdaq: SPU) requested a hearing with the Nasdaq Hearing Panel to appeal its delisting determination.


On the downside


Rigel Pharmaceuticals (Nasdaq: RIGL) reported disappointing results from a FIT Phase 3 clinical program for fostamatinib.


Organovo (Nasdaq: ONVO) priced its public offering of 9 million common shares at the discounted price of $2.75 per share.


eBay (Nasdaq: EBAY) reported lower third quarter earnings and forecast disappointing fourth quarter results.


In the broad market, declining issues outpaced advancers by a margin of more than 10 to 9 on the NYSE and by nearly 10 to 9 on Nasdaq. The broader S&P 500 fell 6 points to 2,138. Bitcoin added $1 to $628.

Higher close as housing starts surge

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A surge in single family housing starts lifted the markets to a higher close with the Dow gaining 40 points to 18,202. Nasdaq rose 2 points to 5,246. 


On the upside


Shares of Ritter Pharmaceuticals (Nasdaq: RTTR) continued climbing.


Bargain hunters lifted shares of Conns (Nasdaq: CONN).


iPass (Nasdaq: IPAS) will release third quarter financials on November 3 after market close.


On the downside


Puma Biotechnology (NYSE: PBYI) will sell $150 million worth of stock through a secondary offering.


Imperva (NYSE: IMPV) has halted its efforts to find a suitor.


First quarter revenue for Cree (Nasdaq: CREE) fell short of expectations and the light emitting diode maker forecast current quarter revenue below estimates.


In the broad market, advancing issues outpaced decliners 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 gained 4 points to 2,144. Bitcoin fell $5 to $627.

The markets opened higher with the Dow gaining 64 points to 18,226. Nasdaq held steady at 5,243. 


T-Mobile US will pay $48 million to settle federal charges that the company failed to adequately disclose speed and data restrictions to customers on its unlimited data plan. The settlement requires the mobile service provider to offer $35.5 million in benefits to subscribes of the unlimited plan. The company must also provide at least $5 million to schools.


Facebook users will now be able to order goods and services through business Facebook pages. Customers can place food orders with restaurants and book appointments with spas and salons. A recommendations feature will be added to Facebook for users to restaurant suggestions.


Fiat Chrysler Automobiles announced two recalls. A potentially faulty sensor wiring prompted the recall of 225,000 model years 2016 and 2017 Jeep Wrangler SUVs. A malfunction may prevent air bags from deploying properly. Fiat is also recalling 86,000 model years 2007 through 2013 Ram 2500 and 3500 pickup trucks and model years 2011 through 2014 Dodge Charger Pursuit sedans to fix an alternator diode that may wear faster than expected.


In the broad market, advancing issues outpaced decliners by a margin of nearly 7 to 2 on the NYSE and by a margin of nearly 5 to 3 on Nasdaq. The broader S&P 500 rose 5 points to 2,144. Bitcoin fell $6 to $626.

Rising crude oil prices lift markets

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The markets opened higher with the Dow rising 46 points to 18,208 as crude oil prices rose. Nasdaq added 2 points to 5,246. 


On the upside


Banc of California (NYSE: BANC) reported sharply higher third quarter earnings and revenue that beat analyst expectations.


Technical Communications (Nasdaq: TCCO) received an order worth approximately $2.37 million from Datron World Communications.


GNC Holdings (NYSE: GNC) met with Chinese companies that may be interested in purchasing the nutritional supplements retailer.


On the downside


Nektar Therapeutics (Nasdaq: NKTR) priced its public offering of 13 million common shares at the discounted price of $13.50 per share.


Intel (Nasdaq: INTC) reported higher third quarter earnings and revenue but the chipmaker forecast fourth quarter revenue below expectations.


Kroger (NYSE: KR) may not be interested in purchasing any of the 650 stores that Rite Aid (NYSE: RAD) and Walgreens (Nasdaq: WBA) must sell in order to complete their $17 billion merger.


In the broad market, advancing issues outpaced decliners by a margin of more than 10 to 9 on the NYSE while decliners edged out advancers by 5 to 4 on Nasdaq. The broader S&P 500 added 2 points to 2,141. Bitcoin tumbled $9 to $623.

Rising crude oil prices lifted the markets to a higher close with the Dow gaining 75 points to 18,161. Nasdaq climbed 44 points to 5,243. 


On the upside


MakeMyTrip (Nasdaq: MMYT) will merge with ibibo Group.


Netflix (Nasdaq: NFLX) reported an impressive gain of 3.2 million subscribers in the third quarter that far exceeded analyst expectations.


Bargain hunters lifted shares of Biostar Pharmaceuticals (Nasdaq: BSPM).


On the downside


Banc of California (NYSE: BANC) hired a new executive vice president and five new senior directors for its Private Banking Division.


Capstone Turbine (Nasdaq: CPST) priced its public offering of 6.3 million common shares at the discounted price of $1.20 per share.


Nektar Therapeutics (Nasdaq: NKTR) will offer $175 million of common stock through a public offering.


In the broad market, advancing issues outpaced decliners by a margin of nearly 7 to 3 on the NYSE and by more than 5 to 3 on Nasdaq. The broader S&P 500 gained 13 points to 2,139. Bitcoin lost $3 to $633.

AIG to sell some business units

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The markets advanced during the midday with the Dow gaining 82 points to 18,168. Nasdaq soared 59 points to 5,259. 


Bowing to pressure from shareholders, American International Group will sell some of its businesses to Fairfax Financial Holdings. Fairfax Financial will pay approximately $240 million in cash to acquire certain AIG operations in Argentina, Chile, Colombia, Uruguay, Venezuela and Turkey. AIG sold its mortgage guaranty unit to Arch Capital Group in August for approximately $3.4 billion.


M&M's unveiled a new caramel flavored M&M. The new flavor has a soft caramel center that is covered in milk chocolate, then enclosed by a colorful candy shell. The candy maker is building a new factory in Topeka, Kansas to make M&M's Caramel. Consumers will have to wait until May 2017 to buy the latest M&M creation.


Netflix has conceded that expanding into China has been more problematic than the streaming service anticipated. A year ago, chief executive Reed Hastings announced plans to introduce its service to every Asian country, including China. But, a restrictive regulatory environment has halted Netflix's ambitious expansion plans. Instead, the company will license content to local media distributors.


In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 1 on the NYSE and by more than 5 to 2 on Nasdaq. The broader S&P 500 soared 15 points to 2,141. Bitcoin slipped $1 to $635.

Rising consumer prices lift markets

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Consumer prices rose 0.3% in September to lift the markets to a higher open with the Dow climbing 62 points to 18,148. Nasdaq gained 43 points to 5,243. 


On the upside


Shares of Ocean Power Technologies (Nasdaq: OPTT) extended its gains.


ContraVir Pharmaceuticals (Nasdaq: CTRV) stock continued to rise.


Spherix (Nasdaq: SPEX) filed ten new patent infringement lawsuits.


On the downside


International Business Machines (NYSE: IBM) reported lower third quarter earnings and revenue.


Amaya (Nasdaq: AYA) ended merger discussions with William Hill.


Oasis Petroleum (NYSE: OAS) priced its upsized public offering of 48 million common shares at the discounted price of $10.80 per share.


In the broad market, advancing issues outpaced decliners by a margin of nearly 7 to 3 on the NYSE and by more than 5 to 2 on Nasdaq. The broader S&P 500 gained 10 points to 2,136. Bitcoin edged up to $637.

Lower close as oil prices slip

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The markets closed lower with the Dow dropping 51 points to 18,086 as crude oil prices slipped. Nasdaq fell 14 points to 5,199. 


On the upside


ContraVir (Nasdaq: CTRV) has begun enrolling the next dosing group in its head-to-head Phase 2a dose-escalation study of CMX157 to treat chronic hepatitis B.


Sophiris Bio (Nasdaq: SPHS) will present at the 2016 BIO Investor Forum tomorrow.


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


On the downside


Shares of Corbus Pharmaceuticals (Nasdaq: CRBP) extended its losses.


The Food and Drug Administration will withdraw its approval of Lannett's (NYSE: LCI) generic attention deficit disorder treatment.


Opus Bank (Nasdaq: OPB) warned that loan charge-offs will negatively impact third quarter earnings.


In the broad market, declining issues outpaced advancers by a margin of nearly 3 to 2 on the NYSE and by more than 7 to 5 on Nasdaq. The broader S&P 500 fell 6 points to 2,126. Bitcoin lost $1 to $636.

Pepsi to cut sugar in drinks

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The markets traded lower during the midday with the Dow falling 45 points to 18,093. Nasdaq lost 10 points to 5,204. 


PepsiCo will reduce the amount of sugar in all of its beverages by 2025 as part of the company's global effort to combat obesity. Nearly two-thirds of the company's drinks will have 100 calories or less for each 12-ounce serving. New flavor ingredients are being incorporated into drinks that will need less sweetening.


Tesla has delayed the launch of an unknown product that was scheduled for today. The electric vehicle maker said that a few more days were necessary to fine tune the product. An announcement is now expected on Wednesday. Speculation has swirled that the company will introduce an updated version of Autopilot or unveil a new crossover vehicle.


Republican presidential nominee Donald J. Trump is exploring the possibility of creating a Trump-branded television network. Trump's son-in-law Jared Kushner has discussed the business opportunity with LionTree chief executive Aryeh B. Bourkoff. Boutique investment bank LionTree brokered the $78 billion acquisition of Time Warner Cable by Charter Communications.


In the broad market, declining issues outpaced advancers by a margin of more than 4 to 3 on the NYSE and by more than 7 to 5 on Nasdaq. The broader S&P 500 lost 4 points to 2,128. Bitcoin held steady at $637.

Factory production rose 0.2% in September but the markets opened flat with the Dow easing a point to 18,136 while Nasdaq added a point to 5,215. 


On the upside


RLJ Entertainment (Nasdaq: RLJE) entered a strategic partnership with AMC Networks.


Supervalu (NYSE: SVU) will sell its Save-A-Lot business to Canadian private equity firm Onex for approximately $1.3 billion in cash.


Hasbro (Nasdaq: HAS) reported higher third quarter earnings and revenue that topped analyst estimates.


On the downside


The Food and Drug Administration's Office of Drug Evaluation denied an appeal by PTC Therapeutics (Nasdaq: PTCT) of the regulatory agency's refuse to file letter.


Lending Club (NYSE: LC) increased interest rates on its loans and tightened its credit standards.


Shares of Tokai Pharmaceuticals (Nasdaq: TKAI) extended its losses.


In the broad market, advancing issues barely edged out decliners by a slim margin on the NYSE while decliners narrowly outpaced advancers on Nasdaq. The broader S&P 500 edged up a fraction to 2,133. Bitcoin rose to $638.

Gain in retail sales lifts markets

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A 0.6% increase in September retail sales lifted the markets to a higher close with the Dow rising 39 points to 18,138. Nasdaq edged up to 5,214. 


On the upside


Ruby Tuesday (NYSE: RT) interim chief executive F. Lane Cardwell Jr., chief financial officer Sue Briley and chief marketing officer David Skena all bought shares of company stock.


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


Salesforce.com (NYSE: CRM) will not make an offer to acquire Twitter (NYSE: TWTR).


On the downside


Biocept (Nasdaq: BIOC) priced its public offering of common stocks and warrants at the discounted price of $1.10 per unit.


Senator Bernie Sanders tweeted that Ariad Pharmaceuticals (Nasdaq: ARIA) increased its leukemia drug to nearly $199,000 per year calling the move unbelievable greed.


Cantor Fitzgerald downgraded Bluebird Bio (Nasdaq: BLUE) from a Hold rating to a Sell rating.


In the broad market, advancing issues barely edged out decliners by a slim margin on the NYSE while decliners narrowly outpaced advancers on Nasdaq. The broader S&P 500 held steady at 2,132. Bitcoin rose $3 to $637.

The markets retreated from early morning highs to trade modestly higher with the Dow gaining 59 points to 18,158. Nasdaq added 4 points to 5,217. 


Deutsche Bank said in an internal meeting that it would need to eliminate an additional 10,000 employees in order to cut expenses. The bank had already announced 9,000 job cuts last year. The possibility of exiting certain countries was also discussed.


Viacom retained the services of Morgan Stanley, Allen & Co. and LionTree to exploring a possible merger with CBS. National Amusements, which is a majority shareholder of both Viacom and CBS, suggested the merger to better position the combined company in the highly competitive entertainment and media industry.


Iron Man actor Robert Downey Jr. offered to provide the voice for Facebook's virtual assistant. Facebook founder and chief executive Mark Zuckerberg has been testing the virtual assistant at his home. Zuckerberg used Facebook to solicit suggestions for the virtual assistant voice. Downey Jr. responded that he would do it if actor Paul Bettany was paid and then donated the funds to a charity chosen by Dr. Strange actor Benedict Cumberbatch.


In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 4 on the NYSE while advancers barely edged out decliners by a slim margin on Nasdaq. The broader S&P 500 added 2 points to 2,135. Bitcoin edged up to $635.

Higher open as producer prices rise

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Producer prices rose 0.3% in September to lift the markets to a higher open with the Dow soaring 123 points to 18,222. Nasdaq climbed 34 points to 5,247. 


On the upside


Shares of ContraVir Pharmaceuticals (Nasdaq: CTRV) continued to climb.


Alibaba (NYSE: BABA) will use Advanced Micro Devices' (Nasdaq: AMD) Radeon Pro graphics chips.


Bargain hunters lifted shares of Bank of America (NYSE: BAC).


On the downside


Ocean Power Technologies (Nasdaq: OPTT) extended its losses.


Infosys (NYSE: INFY) cut its full year revenue outlook.


Landmark Infrastructure Partners (Nasdaq: LMRK) commenced a public offering of 3 million common units.


In the broad market, advancing issues outpaced decliners by a margin of nearly 4 to 1 on the NYSE and by nearly 7 to 2 on Nasdaq. The broader S&P 500 climbed 13 points to 2,145. Bitcoin edged up to $634.

The markets recovered earlier losses but still closed in negative territory with the Dow falling 45 points to 18,098 over concerns about China's economy. Nasdaq dropped 25 points to 5,213. 


On the upside


Catalyst Pharmaceuticals (Nasdaq: CPRX) will present at the 15th Annual BIO Investor Forum next week.


Bargain hunters lifted shares of Tenet Healthcare (NYSE: THC).


Senior Star Management will commence a tender offer for up to 10 million shares of Five Star Quality Care (Nasdaq: FVE) common stock at $3.45 per share in cash.


On the downside


Fluidigm (Nasdaq: FLDM) reported lower than expected preliminary third quarter revenue and suspended its full year forecast.


Covenant Transportation Group (Nasdaq: CVTI) warned of sharply lower third quarter earnings.


ClubCorp Holdings (NYSE: MYCC) reported third quarter earnings and revenue that fell short of analyst expectations.


In the broad market, declining issues outpaced advancers by a margin of nearly 2 to 1 on the NYSE and by 5 to 2 on Nasdaq. The broader S&P 500 lost 6 points to 2,132. Bitcoin added $1 to $634.

Sony launches PlayStation VR

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The markets traded lower during the midday with the Dow dropping 79 points to 18,065. Nasdaq tumbled 34 points to 5,204. 


Sony launches its PlayStation VR headset today. Priced at $399, the device requires a PlayStation 4 which must be purchased separately. Hand controllers and a camera are also not included. Approximately 50 games will be available for the PS VR.


Amazon plans to hire over 120,000 workers in the United States for the holiday shopping season. The number of temporary workers is about 20% more than last year. Online sales are expected to climb between 7% to 10%. Amazon expects to transition more than 14,000 seasonal workers to regular, full time positions after the holidays.


Wells Fargo chief executive John Stumpf unexpectedly retired after working for the bank for 34 years. Stumpf has been CEO for the past nine years. Most recently, Stumpf has been embroiled in the fake accounts scandal that led to a $185 million settlement. Stumpf will retire with a $134.1 million package.


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 2 on Nasdaq. The broader S&P 500 fell 9 points to 2,129. Bitcoin added $1 to $634.

An unexpectedly sharp drop in China's exports sent the markets tumbling to a sharply lower open with the Dow plummeting 157 points to 17,987. Nasdaq plunged 52 points to 5,186. 


On the upside


Ocular Therapeutix (Nasdaq: OCUL) entered a strategic collaboration, option and license agreement with Regeneron Pharmaceuticals to jointly develop a sustained release formulation of the vascular endothelial growth factor trap aflibercept to treat wet age-related macular degeneration.


ContraVir Pharmaceuticals (Nasdaq: CTRV) reported positive interim data from an ongoing Phase 2a multiple ascending dose clinical study of CMX157.


Ulta Salon, Cosmetics & Fragrance (Nasdaq: ULTA) lifted its third quarter earnings and revenue guidance.


On the downside


TG Therapeutics (Nasdaq: TGTX) amended the GENUINE Phase 3 clinical trial to eliminate the second part of the study.


Investors locked in profits on Freeport-McMoRan (NYSE: FCX).


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


In the broad market, declining issues outpaced advancers by a margin of more than 5 to 1 on the NYSE and by more than 4 to 1 on Nasdaq. The broader S&P 500 plunged 20 points to 2,119. Bitcoin added $2 to $635.

Mixed close as job openings drop

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The markets closed mixed with the Dow rising 15 points to 18,144 as job openings dropped in August to its lowest level in eight months. Nasdaq lost 7 points to 5,239. 


On the upside


Voxx (Nasdaq: VOXX) reversed year ago losses to post a profit for the second quarter as revenue rose.


Shares of Extraction Oil & Gas (Nasdaq: XOG) soared in its market debut.


Aeterna Zentaris (Nasdaq: AEZS) signed an exclusive license agreement for Specialised Therapeutics Asia to commercialize Aeterna's Zoptrex in Australia and New Zealand.


On the downside


Baird downgraded Theravance Biopharma (Nasdaq: TBPH) from a Neutral rating to an Underperform rating.


Webtrends selected Hortonworks (Nasdaq: HDP) Data Platform and Hortonworks DataFlow for its connected data structure but the stock price fell.


A Seeking Alpha article said that Celadon Group (Nasdaq: CGI) would likely file for bankruptcy protection.


In the broad market, advancing issues outpaced decliners by a margin of more than 10 to 9 on the NYSE while decliners edged out advancers by 10 to 9 on Nasdaq. The broader S&P 500 added 2 points to 2,139. Bitcoin lost $2 to $634.

Toyota recalls 340,000 Prius sedans

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The markets traded mixed during the midday with the Dow rising 13 points to 18,141 while Nasdaq eased a point to 5,244. 


Toyota recalled 340,000 2016 and 2017 model Prius sedans globally to fix a parking brake defect. Customers have reported that the parking brake fails. If the ignition is on and the transmission is in any gear other than Park, the car can roll away and cause crashes and injuries.


Black & Decker will pay approximately $1.95 billion in cash to acquire the tools business of Newell Brands. The deal is expected to yield annual savings of approximately $80 to $90 million for Black & Decker three years after the acquisition closes.


The standstill period that prohibits legal challenges to trade of soft lumber trade between Canada and the United States has expired but negotiations continue. U.S. lumber producers allege that Canada subsidizes its lumber. Trade negotiators will meet this week to reach a new trade agreement.


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 added 2 points to 2,139. Bitcoin eased a fraction to $636.

Higher open on bargain hunting

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The markets opened higher with the Dow gaining 35 points to 18,163 on bargain hunting. Nasdaq added 4 points to 5,251. 


On the upside


Barracuda Networks (NYSE: CUDA) reported higher second quarter earnings and revenue that topped analyst estimates.


Bargain hunters lifted shares of Real Goods Solar (Nasdaq: RGSE).


HTG Molecular Diagnostics (Nasdaq: HTGM) entered a master companion diagnostics agreement with Merck KGaA.


On the downside


Ericsson (Nasdaq: ERIC) warned that third quarter earnings would fall far short of expectations.


Fortinet (Nasdaq: FTNT) cut its third quarter revenue and earnings outlook.


Investors locked in profits on Biostar Pharmaceuticals (Nasdaq: BSPM).


In the broad market, advancing issues outpaced decliners by a margin of more than 7 to 5 on the NYSE and by nearly 5 to 4 on Nasdaq. The broader S&P 500 rose 3 points to 2,139. Bitcoin eased a fraction to $636.

Corporate earnings disappointed sending the markets tumbling to sharply lower close with the Dow collapsing 200 points to 18,128. Nasdaq plummeted 81 points to 5,246. 


On the upside


Nymox Pharmaceutical (Nasdaq: NYMX) reported positive results from a Phase 3 study of fexapotide to treat enlarged prostate and localized prostate cancer.


Barclays upgraded Momenta Pharmaceuticals (Nasdaq: MNTA) from an Equal Weight rating to an Overweight rating.


Reuters reported that LPL Financial Holdings (Nasdaq: LPLA) was exploring a possible sale of the company.


On the downside


Composite wind blade manufacturer TPI Composites (Nasdaq: TPIC) extended two supply agreements with General Electric International but the stock price fell on news that GE was buying wind turbine blade maker LM Wind Power.


Vericel (Nasdaq: VCEL) entered an agreement to sell $25 million worth of common stock.


Impinj (Nasdaq: PI) will release third quarter results after market close on November 3, 2016.


In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 1 on the NYSE and by more than 5 to 1 on Nasdaq. The broader S&P 500 plunged 26 points to 2,136. Bitcoin soared $21 to $637.

The markets extended its losses during the midday with the Dow plummeting 193 points to 18,135. Nasdaq plunged 78 points to 5,250. 


Fiat Chrysler reached a last minute deal with the Canadian workers' union Unifor. Approximately 10,000 workers were preparing to strike Monday night but the direct involvement of Fiat Chrysler chief executive Sergio Marchionne averted a strike. The agreement must be ratified by union workers.


In the wake of a fake accounts scandal that led to a $185 million fine against Wells Fargo, the bank has restructured its top management team. A number of top executives will report to president and chief operating officer Timothy J. Sloan beginning November 1, 2016. Sloan is expected to succeed chief executive officer John G. Stumpf.


OPEC will begin discussions tomorrow with non-member countries on details of an oil production cap for at least six months as energy executives and representatives from 85 countries convened for the World Energy Congress in Istanbul. OPEC had agreed last month to reduce output but details has never been discussed.


In the broad market, declining issues outpaced advancers by a margin of nearly 8 to 1 on the NYSE and by nearly 6 to 1 on Nasdaq. The broader S&P 500 plunged 30 points to 2,133. Bitcoin surged $21 to $636.

Disappointing earnings weighed the markets down to a sharply lower open with the Dow plunging 113 points to 18,215. Nasdaq tumbled 38 points to 5,290. 


On the upside


Nova Lifestyle (Nasdaq: NVFY) signed a $15 million annual product framework agreement to supply mattresses and other products to The Future Biz School in Hong Kong and Malaysia.


Staffing 360 Solutions (Nasdaq: STAF) reported a smaller loss for the first quarter as revenue climbed.


Biostar Pharmaceuticals (Nasdaq: BSPM) will launch a new topical product to treat rhinitis and sinusitis.


On the downside


Rent-A-Center (Nasdaq: RCII) warned that third quarter earnings would fall far short of analyst expectations.


Illumina (Nasdaq: ILMN) cut its third quarter revenue guidance.


Alcoa (NYSE: AA) reported lower than expected earnings for the third quarter.


In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 1 on the NYSE and by 3 to 1 on Nasdaq. The broader S&P 500 dropped 14 points to 2,148. Bitcoin soared $18 to $633.

Higher close as crude oil rises

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The markets closed higher with the Dow gaining 88 points to 18,329 as crude oil prices rose. Nasdaq climbed 36 points to 5,328. 


On the upside


MobileIron (Nasdaq: MOBL) lifted its third quarter outlook.


Macrocure (Nasdaq: MCUR) will merge with Leap Therapeutics.


Hortonworks (Nasdaq: HDP) will release third quarter results on November 3.


On the downside


Twilio (NYSE: TWLO) will offer $400 million worth of stock through a secondary offering.


Barclays affirmed its Equal Weight rating on Myriad Genetics (Nasdaq: MYGN).


Dover (NYSE: DOVE) cut its full year forecast.


In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 2 on the NYSE and by nearly 7 to 3 on Nasdaq. The broader S&P 500 gained 9 points to 2,163. Bitcoin added $1 to $615.

The markets traded higher during the midday with the Dow climbing 91 points to 18,331. Nasdaq gained 38 points to 5,330. 


A group of religious investors filed a shareholder resolution that calls on Wells Fargo to report about the fake accounts scandal that prompted a $190 million fine. The religiously affiliated investors are also demanding that the bank report changes that have been made to its business practices and the implementation of controls to prevent future illegal activity. A number of resolutions have been filed at Wells Fargo including one calling for a study on breaking up the bank.


European Union regulators clarified that they are not investigating Google's tax deals in Europe. Regulators are investigating Google for antitrust violations. Google allegedly promotes its own shopping service over rival services on Internet search results. Google is also being investigated for using its Android operating system to stifle competition.


Facebook launched its private social network Workspace by Facebook for businesses. Workspace by Facebook looks and feels just like Facebook with News Feeds, Groups, and chat but there will be no advertising. But the private network will keep corporate data secure. Facebook is working to integrate other business tools into Workspace.


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 2,163. Bitcoin added $1 to $615.

Rising oil prices lift markets

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Crude oil prices rose to lift the markets to a sharply higher open with the Dow leaping 145 points to 18,386. Nasdaq soared 44 points to 5,337. 


On the upside


The Food and Drug Administration granted tentative approval to IntelliPharmaCeutics International's (Nasdaq: IPCI) abbreviated new drug application for quetiapine fumarate extended release tablets.


Raymond James upgraded Mylan (Nasdaq: MYL) from a Market Perform rating to a Strong Buy rating and lifted its price target to $57.


Tesaro (Nasdaq: TSRO) reported positive results from a Phase 3 ENGOT-OV16/NOVA clinical trial of niraparib.


On the downside


Bloomberg reported that Twitter (NYSE: TWTR) may have no acquisition offers.


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


Profit taking continued to weigh down Coty (NYSE: COTY).


In the broad market, advancing issues outpaced decliners by a margin of 5 to 1 on the NYSE and by more than 4 to 1 on Nasdaq. The broader S&P 500 climbed 14 points to 2,168. Bitcoin added $2 to $616.

Concerns about a possible rate hike in December weighed the markets down to a lower close with the Dow losing 28 points to 18,240. Nasdaq fell 14 points to 5,292. 


On the upside


Shares of Universal Insurance Holdings (NYSE: UVE) rebounded as the center of Hurricane Matthew stayed offshore of Florida and moved north towards Georgia and South Carolina.


Curis (Nasdaq: CRIS) stock continued to climb.


AxoGen (Nasdaq: AXGN) priced its public offering of approximately 2.33 million common shares at the discounted price of $7.50 per share.


On the downside


Shares of Senomyx (Nasdaq: SNMX) tumbled on no news.


Profit taking weighed down shares of Parkway Properties (NYSE: PKY).


Investors locked in profits on Coupa Software (Nasdaq: COUP).


In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 3 on the NYSE and by nearly 2 to 1 on Nasdaq. The broader S&P 500 fell 7 points to 2,153. Bitcoin rose 4 points to $614.

The markets extended its losses during the midday with the Dow tumbling 94 points to 18,173. Nasdaq dropped 34 points to 5,271. 


Volkswagen is recalling approximately 281,500 vehicles in the U.S. to fix fuel leaks. No injuries have been reported but the leaks could cause a fire. The Audi brands that are being recalled are the gasoline versions of the 2009-2012 model year Audi Q5 SUVs, 2007-2012 Audi Q7 SUVs, 2012-2013 Audi A6 and A7 sedans and all engine models of the Audi A3 sedans and Audi A3 Cabriolets. Also being recalled are all engine models of the 2015-2016 VW Golf, VW SportWagen and VW GTI.


Facebook is working to bring its Free Basics app to the United States. Free Basics is currently available in 49 countries and provides free access to basic online services such as news, maternal health, local jobs and local government information. Domestically, Facebook would offer the service to low-income and rural residents.


The British pound tumbled overnight to briefly hit a 31-year low against the U.S. dollar in a flash crash in the Asian markets. Losses were later recovered but the pound continues to trade lower against the dollar. The U.K. is taking a hardline stance on immigration in its Brexit talks while the EU maintains that without free movement of people, there will be no free movement of goods, services and capital.


In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 2 on the NYSE and by more than 5 to 2 on Nasdaq. The broader S&P 500 dropped 13 points to 2,146. Bitcoin rose $3 to $613.

The markets opened lower with the Dow losing 33 points to 18,235 as the nation's unemployment rate ticked up to 5.0%. Nasdaq slipped 4 points to 5,302. 


On the upside


HC Wainwright initiated coverage of Lipocine (Nasdaq: LPCN) with a Buy rating and a $25 price target.


Gap (NYSE: GPS) reported a smaller than expected drop in September same store sales.


Bargain hunters lifted shares of McEwen Minig (NYSE: MUX).


On the downside


Clovis Oncology (Nasdaq: CLVS) reported efficacy and safety data from its New Drug Application for rucaparib.


Novavax (Nasdaq: NVAX) rescheduled its 4th annual Investor and Analyst Meeting.


Honeywell (NYSE: HON) cut its third quarter forecast.


In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 4 on the NYSE and by more than 9 to 7 on Nasdaq. The broader S&P 500 lost 4 points to 2,156. Bitcoin rose 4 points to $614.

The markets closed flat with the Dow slipping 12 points to 18,268 despite an unexpected drop in jobless claims as investors worried about a possible interest rate increase. Nasdaq lost 9 points to 5,306. 


On the upside


Shares of Coupa Software (Nasdaq: COUP) surged in its market debut.


Genco Shipping & Trading (NYSE: GNK) announced agreements with several entities to purchase an aggregate of up to $125 million of preferred stock.


Zumiez (Nasdaq: ZUMZ) reported higher September same store sales prompting the specialty retailer to lift its third quarter guidance.


On the downside


Inventergy Global (Nasdaq: INVT) priced its public offering of 6 million common shares at the discounted price of $1.00 per share.


Shares of Florida residential insurance company Universal Insurance (Nasdaq: UVE) dropped as Hurricane Matthew approached the state.


Idera Pharmaceuticals (Nasdaq: IDRA) will sell up to $50 million worth of common stock through a public offering.


In the broad market, declining issues outpaced advancers by a margin of 5 to 4 on the NYSE and by more than 3 to 2 on Nasdaq. The broader S&P 500 added a point to 2,160. Bitcoin added a fraction to $610.

The markets traded modestly lower during the midday with the Dow slipping 10 points to 18,271. Nasdaq lost 6 points to 5,309. 


German newspaper Handelsblatt reported that several German blue chip companies may offer financial assistance to Deutsche Bank. Deutsche Bank must pay fines of up to $14 billion to the U.S. Department of Justice for mortgage-backed securities that the bank sold. The German companies discussed purchasing shares of Deutsche Bank.


Bloomberg reported that Wal-Mart is refusing to pay a $600 million fine to settle bribery investigations by the Department of Justice and the Securities and Exchange Commission. Wal-Mart is alleged to have paid bribes to government officials in Mexico, China and India in order to accelerate the process to open new stores.


The Mall of America, which is the largest mall in the nation with 520 stores, will be closed on Thanksgiving Day. The mall will open at 5am on the day after Thanksgiving for Black Friday shopping. Many retailers including Bed Bath & Beyond, Crate and Barrel, Marshalls, Pier 1 Imports, Staples and T.J. Maxx will also close on the holiday.


In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 4 on the NYSE and by more than 3 to 2 on Nasdaq. The broader S&P 500 added a point to 2,160. Bitcoin eased a fraction to $609.

First time applications for unemployment benefits unexpectedly fell last week but the markets opened lower with the Dow dropping 81 points to 18,199. Nasdaq fell 23 points to 5,292. 


On the upside


Aurinia Pharmaceuticals (Nasdaq: AUPH) reported positive 24-week data from the AURION study of voclosporin in combination with mycophenolate mofetil and oral corticosteroids in patients with active lupus nephritis.


Shares of Corbus Pharmaceuticals (Nasdaq: CRBP) extended its gains.


Bargain hunters lifted shares of Real Goods Solar (Nasdaq: RGSE).


On the downside


Recode reported that neither Google (Nasdaq: GOOG) nor Apple (Nasdaq: AAPL) would make an offer for Twitter (NYSE: TWTR).


Alnylam Pharmaceuticals (Nasdaq: ALNY) will discontinue development of revusiran.


Wal-Mart (NYSE: WMT) forecast flat earnings for fiscal 2017 as it invests in its online presence.


In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 2 on the NYSE and by more than 5 to 2 on Nasdaq. The broader S&P 500 fell 6 points to 2,153. Bitcoin eased a fraction to $609.

The nation's service sector activity expanded more than expected in September to lift the markets to a sharply higher close with the Dow surging 112 points to 18,281. Nasdaq gained 26 points to 5,316. 


On the upside


Cantor Fitzgerald initiated coverage of Corbus Pharmaceuticals (Nasdaq: CRBP) with a Buy rating and a $17 price target.


Net 1 Ueps Technologies (Nasdaq: UEPS) acquired a strategic stake in Blue Label Telecoms.


Johnson Rice upgraded KBR (NYSE: KBR) from a Hold rating to an Accumulate rating.


On the downside


AZZ (NYSE: AZZ) disappointed with sharply lower second quarter earnings and revenue and suspended its full year forecast.


Investors locked in profits on Global Blood Therapeutics (Nasdaq: GBT).


Tenax Therapeutics (Nasdaq: TENX) reported disappointing results from the LeoPARDS trial evaluating levosimendan in septac shock.


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 3 on Nasdaq. The broader S&P 500 gained 9 points to 2,159. Bitcoin added $2 to $609.

Amazon introduces Prime Reading

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The markets traded higher during the midday with the Dow climbing 95 points to 18,263. Nasdaq gained 29 points to 5,319. 


Amazon introduced its Prime Reading feature for Amazon Prime members in the U.S. Prime Reading offers a selection of Kindle books, magazines and comics for its members at no additional cost. Members can read the selections with a Kindle e-reader, a Fire tablet or through a Kindle app on Android and iOS devices.


Facebook completed the roll out of its Secret Conversations feature in its Messenger app. End-to-end encryption ensures that only the two users who are engaged in the conversation can see the messages. Users can also select an option that will delete messages after five seconds or up to a day. Secret Conversations requires the latest version of the Android and iOS Messenger app.


While hearing an insider trading case, U.S. Supreme Court justices indicated that they may rule in favor of easing the pursuit of insider trading charges. Several justices appeared to criticize arguments that prosecutors must prove that an individual received a tangible benefit in order to be charged with insider trading.


In the broad market, advancing issues outpaced decliners by a margin of nearly 2 to 1 on the NYSE and by more than 3 to 1 on Nasdaq. The broader S&P 500 climbed 11 points to 2,161. Bitcoin rose $4 to $610.

Markets soar as crude oil rebounds

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Crude oil prices rebounded to lift the markets to a higher open with the Dow soaring 102 points to 18,271. Nasdaq climbed 30 points to 5,320. 


On the upside


Piper Jaffray upgraded Catalyst Pharmaceuticals (Nasdaq: CPRX) from a Neutral rating to an Overweight rating.


Inventergy Global (Nasdaq: INVT) updated investors on recent debt amendments and a letter of intent with Fortress Investment Group.


Resolute Energy (NYSE: REN) entered an agreement to acquire certain oil and gas properties in Reeves County, Texas for $135 million from Firewheel Energy.


On the downside


Immunomedics (Nasdaq: IMMU) priced its offering of 10 million common shares and warrants at the discounted price of $3 per unit.


Shares of Salesforce.com (NYSE: CRM) fell on news that the company will make an offer for Twitter (NYSE: TWTR).


Profit taking weighed down shares of Renren (NYSE: RENN).


In the broad market, advancing issues outpaced decliners by a margin of nearly 3 to 1 on the NYSE and by more than 5 to 2 on Nasdaq. The broader S&P 500 gained 8 points to 2,158. Bitcoin rose $4 to $610.

Lower close as crude oil slips

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Crude oil prices slipped to weigh the markets down to a lower close with the Dow dropping 85 points to 18,168. Nasdaq lost 11 points to 5,289. 


On the upside


Endurance Specialty Holdings (NYSE: ENH) is engaged in advanced discussions with Sompo Holdings for a potential strategic transaction.


Bloomberg wrote over the weekend that live streaming offers enormous growth potential for Momo (Nasdaq: MOMO).


Team Health Holdings (NYSE: TMH) may be taken private.


On the downside


Shares of Great Basin Scientific (Nasdaq: GBSN) extended its losses.


Zacks Equity Research added Syntel (Nasdaq: SYNT) to its Strong Sell list.


Costamere (NYSE: CMRE) entered a new loan agreement, refinanced two credit facilities and cut its quarterly dividend to 10 cents per common share payable on November 4, 2016 to shareholders of record October 21, 2016.


In the broad market, declining issues outpaced advancers by a margin of more than 5 to 2 on the NYSE and by nearly 5 to 3 on Nasdaq. The broader S&P 500 fell 10 points to 2,150. Bitcoin slipped $2 to $608.

Google debuts new phones

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The markets turned negative during the midday with the Dow tumbling 95 points to 18,157 as the value of the British pound tumbled against the U.S. dollar. Nasdaq lost 15 points to 5,285. 


Google introduced its new Pixel and Pixel XL smartphones with high definition displays and 12 megapixel f/2.0 rear cameras. The Pixel has a 5-inch screen while the Pixel XL has a 5.5-inch screen. The phones also feature the built-in Google Assistant and the sophisticated camera software that will allow users to capture multiple images and combine them for better image quality.


Google unveiled its Daydream View virtual reality headset that is priced at $79. Preorders will begin at the end of the month with shipments scheduled for November. The fabric and foam headset will be compatible with Google's new Pixel smartphones.


The National Highway Traffic Safety Administration initiated an investigation into the braking system of the 2015 and 2016 model years of the Ford F-150 pickup truck. A recall of model years 2013 and 2014 F-150 pickups was issued earlier this year to fix a defect in the braking system. Consumers have complained about a sudden and complete loss of brakes.


In the broad market, declining issues outpaced advancers by a margin of nearly 3 to 1 on the NYSE and by 5 to 3 on Nasdaq. The broader S&P 500 fell 10 points to 2,150. Bitcoin slipped $2 to $607.

Mixed open as crude oil slips

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The markets opened mixed with the Dow losing 20 points to 18,233 while Nasdaq added 8 points to 5,308 as crude oil prices slipped. 


On the upside


SeaDrill's (NYSE: SDRL) largest shareholder and chairman John Fredriksen offered to lend the company up to $1.2 billion as part of a deal to restructure debt.


Summit Therapeutics (Nasdaq: SMMT) entered an exclusive license and collaboration agreement granting Sarepta Therapeutics (Nasdaq: SRPT) rights in Europe, as well as Turkey and the Commonwealth of Independent States to Summit's utrophin modulator pipeline.


Aralez Pharmaceuticals (Nasdaq: ARLZ) will acquire the U.S. rights to Toprol-XL and its Authorized Generic from AstraZeneca (NYSE: AZN).


On the downside


Trinity Biotech (Nasdaq: TRIB) withdrew its 510(k) premarket notification submission for the Meritas Troponin-I Test and the Meritas Point-of-Care Analyzer.


Investors locked in profits on Versum Materials (NYSE: VSM).


Profit taking weighed down shares of Nova Lifestyle (Nasdaq: NVFY).


In the broad market, advancing issues barely edged out decliners by a slim margin on the NYSE and by 3 to 2 on Nasdaq. The broader S&P 500 slipped 3 points to 2,157. Bitcoin eased a fraction to $609.

Lower close as auto sales fall

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The markets closed lower with the Dow falling 60 points to 18,247 as auto sales slipped 0.5% in September. Nasdaq lost 11 points to 5,300. 


On the upside


Shares of Nova Lifestyle (Nasdaq: NVFY) extended its gains.


Winnegabo Industries (NYSE: WGO) will acquire Grand Design Recreational Vehicle in a cash and stock deal valued at approximately $500 million prompting an upgrade.


The Food and Drug Administration requested additional data from Dynavax Technologies (Nasdaq: DVAX) regarding a pending Biologics License Application for the hepatitis B vaccine HEPLISAV-B.


On the downside


Shares of Donnelley Financial Solutions (NYSE: DFIN) plunged on its first trading day.


LSC Communications (NYSE: LKSD) stock plummeted in its market debut.


Shares of SeaDrill (NYSE: SDRL) extended its losses.


In the broad market, declining issues outpaced advancers by a margin of 7 to 5 on the NYSE and by 3 to 2 on Nasdaq. The broader S&P 500 lost 7 points to 2,161. Bitcoin edged up to $609.

The markets traded lower during the midday with the Dow losing 52 points to 18,255. Nasdaq fell 14 points to 5,297. 


The U.S. National Highway Traffic Safety Administration will open two separate investigations into Ford sport utility vehicles and cars. The auto safety regulator will investigate a door latch warning light in 380,000 2011-2013 Ford Edge SUVs. The NHTSA will also investigate 262,000 2010 Ford Fusion cars for steering issues.


In reaction to Wells Fargo's fake accounts scandal, the state of Illinois will suspend business with the bank for a year. The state engages in $30 billion of investment activity with Wells Fargo annually. Wells Fargo will lose millions of dollars in fees from the suspension.


Facebook launched its Marketplace online rummage sale for users to buy and sell items on the social network. Currently, individuals are able to engage in commercial activity on Marketplace. Businesses may be invited to partner with Marketplace in the future. Marketplace prohibits the sale of marijuana, pharmaceuticals, illegal drugs, and guns. The service is available in the U.S., the United Kingdom, Australia and New Zealand.


In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 3 on both the NYSE and on Nasdaq. The broader S&P 500 lost 8 points to 2,160. Bitcoin edged up to $609.

An unexpected drop in construction spending weighed the markets down to a lower open with the Dow tumbling 73 points to 18,235. Nasdaq fell 20 points to 5,291. 


On the upside


Janus Capital (NYSE: JNS) will merge in a $6 billion deal.


Bass Pro Shops will acquire Cabela (NYSE: CAB) in an all cash deal valued at approximately $5.5 billion.


Shares of Nutanix (Nasdaq: NTNX) continued climbing.


On the downside


The U.S. Supreme Court rejected an appeal by Taser International (Nasdaq: TASR) of a lower court ruling that police officers used excessive force on a mentally ill man who died after being stunned by a Taser.


Real Goods Solar (Nasdaq: RGSE) completed the conversion of preferred stock into common stock.


KBR (NYSE: KBR) cut its full year earnings outlook.


In the broad market, declining issues outpaced advancers by a margin of 2 to 1 on the NYSE and by more than 2 to 1 on Nasdaq. The broader S&P 500 lost 8 points to 2,159. Bitcoin edged up to $609.

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