November 2016 Archives

Rate hike concerns weigh down stocks

|

The markets closed lower with the Dow barely adding a point to 19,123 as concerns about a looming rate hike tempered enthusiasm for an oil production cut by OPEC. Nasdaq plunged 56 points 5,323.


On the upside


Shares of Genetic Technologies (Nasdaq: GENE) extended its gains.


An OPEC agreement to cut oil production sent shares of Denbury Resources (NYSE: DNR), EP Energy (NYSE: EPE), SM Energy (NYSE: SM) and Whiting Petroleum (NYSE: WLL) soaring.


Shares of drilling services providers Ensco (NYSE: ESV), Nabors Industries (NYSE: NBR) and Ocean Rig (Nasdaq: ORIG) surged as well.


On the downside


Cerecor (Nasdaq: CERC) reported disappointing results from a Phase 2 clinical trial of CERC-301 to treat major depressive disorder.


Shares of Nivalis Therapeutics (Nasdaq: NVLS) extended its losses.


Dynavax Technologies (Nasdaq: DVAX) will present clinical data from a Phase 1/2 clinical trial of SD-101 in patients with low-grade, B cell lymphoma at the 58th American Society of Hematology Annual Meeting and Exposition on Sunday, December 4, 2016.


In the broad market, declining issues outpaced advancers by a margin of more than 3 to 2 on the NYSE and by more than 5 to 3 on Nasdaq. The broader S&P 500 fell 5 points to 2,198. Bitcoin climbed $8 to $739.


OPEC agrees to production cuts

|

The markets traded mixed during the midday with the Dow climbing 73 points to 19,195. Nasdaq dropped 33 points 5,346.


For the first time in eight years, the Organization of the Petroleum Exporting Countries has agreed to cut production levels in order to boost oil prices. Members will reduce oil production by approximately 4.5%, or 1.2 million barrels per day. Saudi Arabia will shoulder a greater proportion of the cuts by lowering its production by approximately 0.5 million barrels per day.


In response to customer demand, Netflix will begin allowing users to download programs to watch offline. The ability to download is available on the latest versions of the iOS and Android Netflix app. However, only a select number of titles will be downloadable. All Netflix members around the world regardless of membership level can install the app that has the download feature.


GoPro will eliminate around 15% of its workers and close its entertainment division as part of a restructuring plan to return the wearable camera maker to profitability in 2017. Revenue has been falling for the last four quarters and the company had to recall its Karma drones earlier this month. The company expects slash operating expenses by $735 million.


In the broad market, declining issues outpaced advancers by a margin of 7 to 5 on the NYSE and by more than 3 to 2 on Nasdaq. The broader S&P 500 added 3 points to 2,207. Bitcoin gained $7 to $738.


Dow climbs as OPEC agrees to cuts

|

OPEC agreed to cut oil production for the first time since 2008 sending the Dow to a higher open with the blue chip index gaining 52 points to 19,174. Nasdaq fell 23 points 5,356.


On the upside


The Department of Energy awarded Superconductor Technologies (Nasdaq: SCON) $4.5 million to improve the manufacturing process of superconductive wires.


Shares of California Resources (NYSE: CRC), Oasis Petroleum (NYSE: OAS) and WPX Energy (NYSE: WPX) climbed as OPEC agreed to cut production.


Shares of Globus Maritime (Nasdaq: GLBS) extended its gains.


On the downside


Arrowhead Pharmaceuticals (Nasdaq: ARWR) will discontinue development of clinical stage drug candidates ARC-520, ARC-521 and ARC-AAT.


American Eagle Outfitters (NYSE: AEO) reported higher third quarter earnings and revenue but same store sales growth fell short of expectations and the company forecast current quarter earnings below estimates.


Costamere (NYSE: CMRE) priced its public offering of 12 million common shares at the discounted price of $6.00 per share.


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 nearly 10 to 9 on Nasdaq. The broader S&P 500 rose 4 points to 2,208. Bitcoin gained $6 to $737.


Higher close ahead of OPEC meeting

|

The markets closed modestly higher with the Dow rising 23 points to 19,121 ahead of OPEC's meeting tomorrow to reach an agreement on production cuts. Nasdaq gained 11 points 5,379.


On the upside


Globus Maritime (Nasdaq: GLBS) announced a $5 million private placement agreement.


Dataram (Nasdaq: DRAM) finalized its definitive agreement to acquire U.S. Gold Corp.


Thor Industries (NYSE: THOR) reported sharply higher first quarter earnings that beat expectations as revenue surged.


On the downside


Shoe Carnival (Nasdaq: SCVL) disappointed with lower than expected results for the third quarter.


Newpark Resources (NYSE: NR) will offer $100 million in convertible senior notes.


Shares of Skyline Medical (Nasdaq: SKLN) extended its losses.


In the broad market, declining issues outpaced advancers by a margin of nearly 10 to 9 on the NYSE while decliners barely edged out advancers by a slim margin on Nasdaq. The broader S&P 500 added 2 points to 2,204. Bitcoin edged up to $732.


Cyber Monday sales surge to new record

|

The markets advanced during the midday with the Dow rising 38 points to 19,136. Nasdaq climbed 32 points 5,401.


Cyber Monday sales soared 12.1% over last year to become the best online shopping day ever in the nation's history. Bargain hunters spent $3.45 billion in one day on electronics and toys. Popular items included the Sony PlayStation 4, Microsoft Xbox, Lego building sets, and Mattel's Barbie dolls. Shopping on mobile devices surged 34% over last year to $1.07 billion.


AT&T will introduce a new DirectTV Now streaming service beginning tomorrow. An introductory package that offers over 100 channels will be available for $35 per month. The regular price for the 100 channel package will be $60 per month. Subscription packages begin at $35 per month for over 60 channels that include CNN, ESPN, Disney Channel, and Fox Business News.


Dozens of demonstrators for the Fight for $15 movement have been arrested around the nation. Protestors organized in cities across the country to demand that the federal minimum wage be raised from $7.50 per hour to $15 per hour. Workers in fast food, home health care, childcare as well as Uber drivers joined the mostly peaceful demonstrations.


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 gained 7 points to 2,209. Bitcoin added $1 to $732.


Flat open as crude oil retreats

|

The markets opened flat with the Dow adding 5 points to 19,103 as crude oil prices fell. Nasdaq rose 14 points 5,383.


On the upside


Genetic Technologies (Nasdaq: GENE) entered an exclusive worldwide license agreement with the University of Melbourne to develop and commercialize a novel colorectal cancer risk assessment test.


The New York State Department of Health conditionally approved CombiMatrix's (Nasdaq: CBMX) pre-implantation genetic screening by next generation sequencing.


Acasti Pharma (Nasdaq: ACST) named Linda O'Keefe to the position of chief financial officer.


On the downside


The Food and Drug Administration rejected Amicus Therapeutics' (Nasdaq: FOLD) request for accelerated approval of its Fabry disease treatment migalastat.


Nivalis Therapeutics (Nasdaq: NVLS) reported disappointing results from a Phase 2 clinical trial of its cystic fibrosis treatment cavosonstat.


Investors locked in profits on PhaseRx (Nasdaq: PZRX).


In the broad market, advancing issues outpaced decliners by a margin of nearly 10 to 9 on the NYSE and by more than 9 to 7 on Nasdaq. The broader S&P 500 added a point to 2,203. Bitcoin eased a fraction to $731.


After setting record closes last week, the markets retreated with the Dow losing 54 points to 19,097 on profit taking. Nasdaq dropped 30 points 5,368.


On the upside


Shares of Heat Biologics (Nasdaq: HTBX) continued to surge ahead of its Phase 1b study data presentation next week at the International Society for the Study of Lung Cancer Annual Meeting for its lung cancer treatment HS-110 in combination with Bristol-Myers Squibb's anti-PD-1 checkpoint inhibitor nivolumab.


The Herzfeld Caribbean Basin Fund (Nasdaq: CUBA) climbed after the death of Cuban dictator Fidel Castro.


Under Armour (NYSE: UA) will change the ticker symbols for its Class A common stock from UA to UAA and Class C common stock from UA.C to UA beginning December 7, 2016.


On the downside


Alder BioPharmaceuticals (Nasdaq: ALDR) initiated a PROMISE 2 clinical trial of its migraine prevention drug eptinezumab but the stock price fell.


Diana Containerships (Nasdaq: DCIX) hosted a webcast and teleconference to discuss its third quarter results this morning.


Profit taking weighed down shares of Ophthotech (Nasdaq: OPTH).


In the broad market, declining issues outpaced advancers by a margin of nearly 2 to 1 on the NYSE and by nearly 7 to 3 on Nasdaq. The broader S&P 500 fell 11 points to 2,201. Bitcoin rose $2 to $730.


The markets extended its losses at midday with the Dow dropping 73 points to 19,078. Nasdaq fell 19 points 5,379.


The holiday weekend was a success for retailers with more than 154 million people making purchases. Last year, about 151 million shopped over the four-day weekend. Approximately 43.8% of shoppers bought items online. On average, each consumer spent about $298.19 which is lower that last year's average of $299.60.


Still reeling from an emissions cheating scandal, Volkswagen teased a new design for a four-door sedan that will be introduced at the Geneva Motor Show in March. The Volkswagen Arteon will be larger than the Passat and priced at a premium. The automaker is attempting to boost lagging sales in the aftermath of the emissions scandal.


Royal Dutch Shell may sell its interest in various oil fields in Iraq as falling oil prices have hurt investment returns. Last year, Iraq oil and gas production amounted to 4.4% of Shell's total oil and gas production. Shell will maintain and develop its gas business in Iraq.


In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 3 on the NYSE and by more than 2 to 1 on Nasdaq. The broader S&P 500 fell 8 points to 2,205. Bitcoin added $2 to $730.


Lower open on profit taking

|

The markets opened lower with the Dow falling 44 points to 19,107 as investors locked in profits from last week's rally. Nasdaq lost 9 points 5,389.


On the upside


The Food and Drug Administration granted orphan drug designation to PhaseRx (Nasdaq: PZRX) for its ornithine transcarbamylase deficiency treatment PRX-OTC.


Recro Pharma (Nasdaq: REPH) reported positive results from a Phase III clinical trial of its intravenous acute postoperative pain treatment meloxicam.


Time (NYSE: TIME) rejected a $1.78 billion acquisition offer from billionaire investor Edgar Bronfman Jr.


On the downside


Trina Solar (NYSE: TSL) reported lower third quarter revenue that fell short of analyst expectations.


Fang Holdings (NYSE: SFUN) fell to a loss for the third quarter.


Shares of Eli Lilly (NYSE: LLY) extended its losses.


In the broad market, declining issues outpaced advancers by a margin of more than 10 to 9 on the NYSE and by nearly 2 to 1 on Nasdaq. The broader S&P 500 lost 4 points to 2,208. Bitcoin rose $3 to $731.


Higher close on shortened trading day

|

The markets closed higher with the Dow climbing 68 points to 19,152 on a shortened trading day. Nasdaq gained 18 points 5,398.


On the upside


Shares of Skyline Medical (Nasdaq: SKLN) extended its gains.


Industrial Services of America (Nasdaq: IDSA) stock soared on no news.


Shares of Ziopharm Oncology (Nasdaq: ZIOP) climbed.


On the downside


Investors continued to lock in profits on DryShips (Nasdaq: DRYS).


iKang Healthcare Group (Nasdaq: KANG) reported fourth quarter and full year results.


Freeport-McMoRan (NYSE: FCX) completed its $1.5 billion equity offering.


In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 3 on both the NYSE and on Nasdaq. The broader S&P 500 gained 8 points to 2,213. Bitcoin held steady at $736.


Higher open on Black Friday

|

The markets opened higher with the Dow gaining 52 points to 19,135 on optimism for strong holiday sales on Black Friday. Nasdaq added 4 points 5,385.


On the upside


Ctrip.com International (Nasdaq: CTRP) reported better than expected earnings for the third quarter and announced plans to buy Skyscanner Holdings for approximately $1.7 billion.


Shares of Cliffs Natural Resources (NYSE: CLF) continued climbing.


Heat Biologics (Nasdaq: HTBX) stock soared on no news.


On the downside


Profit taking weighs down shares of Euroseas (Nasdaq: ESEA).


Vale (NYSE: VALE) has approved $181 million for remediation and compensation programs and $115 million in credit for the Samarco iron ore mine disaster.


Petrobras (NYSE: PBR) settled 11 investor lawsuits that are part of a class action suit against the Brazilian oil company.


In the broad market, advancing issues outpaced decliners by a margin of 7 to 5 on the NYSE and by nearly 10 to 9 on Nasdaq. The broader S&P 500 added 4 points to 2,209. Bitcoin slipped $1 to $734.


U.S. markets closed

|
U.S. markets are closed for Thanksgiving.

Rate increase very likely

|

The markets closed mixed with the Dow gaining 59 points to 19,083 as the Fed appeared poised to raise interest rates. Nasdaq slipped 5 points 5,380.


On the upside


Bargain hunters lifted shares of Sino-Global Shipping America (Nasdaq: SINO).


Caleres (NYSE: CAL) reported higher third quarter earnings that topped analyst estimates.


Third quarter earnings for Veeva Systems (NYSE: VEEV) surged to beat expectations.


On the downside


Cellectar Biosciences (Nasdaq: CLRB) priced its public offering of common stock at the discounted price of $1.50 per share.


PDL Biopharma (Nasdaq: PDLI) issued $150.0 million of convertible senior notes.


Urban Outfitters (Nasdaq: URBN) disappointed with third quarter earnings or revenue that fell short of expectations.


In the broad market, advancing issues barely edged out decliners by a slim margin on the NYSE while advancers outpaced decliners by a margin of more than 7 to 5 on Nasdaq. The broader S&P 500 lost 4 points to 2,202. Bitcoin fell $7 to $737.


Video causes iPhones to crash

|

The markets traded mixed with the Dow gaining 59 points to 19,083. Nasdaq slipped 5 points 5,380.


Apple iPhones will crash if users view a certain online video. The video is sent through an iMessage. The iPhone will lock up and freeze approximately ten seconds after watching the video. Users must reboot their phones in order to recover from the crash.


The European Commission has conditionally approved Abbott Laboratories' proposed $25 billion acquisition of St. Jude Medical. Abbott has offered to divest its electrophysiology product Vado and divest St. Jude's vessel closure device business. The Commission agreed to the offer by Abbott saying that competition concerns have been allayed.


Multiple sources have said that the European Commission was prepared to approve Microsoft's proposed $26.2 billion acquisition of LinkedIn. Concerns had been raised when the deal was announced in June but Microsoft had recently offered concessions the Commission. Modifications to the concessions had been requested by the Commission which Microsoft has accepted.


In the broad market, declining issues barely edged out advancers by a slim margin of nearly 10 to 9 on the NYSE while advancers outpaced decliners by a margin of more than 9 to 7 on Nasdaq. The broader S&P 500 added a point to 2,204. Bitcoin fell $3 to $741.

Mixed open ahead of Black Friday

|

The markets opened mixed with the Dow rising 28 points to 19,052 while Nasdaq fell 25 points 5,361 over modest expectations for Black Friday.


On the upside


Deere (NYSE: DE) reported better than expected earnings for the fourth quarter.


Medigus (Nasdaq: MDGS) signed a four year distribution agreement with INNOVAMEDICA to distribute Medigus Ultrasonic Surgical Endostapler equipment in Italy.


Euroseas (Nasdaq: ESEA) purchased a drybulk vessel for approximately $4.4 million and secured a short term loan facility.


On the downside


Two patients in a Phase 2 clinical trial of Juno Therapeutic's (Nasdaq: JUNO) leukemia treatment JCAR015 died.


Eli Lilly's (NYSE: LLY) Alzheimer's treatment solanezumab failed a Phase III clinical trial.


Nimble Storage (NYSE: NMBL) widened losses for the third quarter.


In the broad market, declining issues outpaced advancers by a margin of more than 7 to 5 on the NYSE while decliners barely edged out advancers by a slim margin on Nasdaq. The broader S&P 500 lost 4 points to 2,202. Bitcoin fell $7 to $737.

Dow closes at record 19,023

|

The market rally continued with the Dow gaining 67 points to 19,023, closing above 19,000 for the very first time. Nasdaq gained 17 points 5,386.


On the upside


Investors snapped up shares of AK Steel Holding (NYSE: AKS), Cliffs Natural Resources (NYSE: CLF) and United States Steel (NYSE: X) after Goldman Sachs said that commodity prices are expected to rise.


Chico's FAS (NYSE: CHS) swung to a greater than expected profit for the third quarter.


Bargain hunters lifted shares of Superconductor Technologies (Nasdaq: SCON).


On the downside


Shares of DryShips (Nasdaq: DRYS) extended its losses.


Investors locked in profits of Opexa Therapeutics (Nasdaq: OPXA).


Vipshop Holdings (NYSE: VIPS) reported higher third quarter earnings and revenue but net margin fell.


In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 2 on the NYSE and by nearly 5 to 3 on Nasdaq. The broader S&P 500 rose 4 points to 2,202. Bitcoin gained $5 to $744.

The markets traded higher during the midday with the Dow gaining 47 points to 19,003 topping 19,000 for the first time. Nasdaq added 6 points 5,375.


French aircraft maker Airbus received a license from the U.S. Treasury Department's Office of Foreign Assets Control to sell 106 planes to Iran Air. U.S. approval was necessary since more than 10% of the components in the aircraft are made in America. The commercial aircraft sale was possible after sanctions imposed on Iran were lifted in January 2016.


Alibaba Cloud will open data facilities in Australia, Dubai, Germany and Japan as part of its plans to expand its global presence. China's largest cloud computing service provider expects to increase its stake of the global market to 7.8%. Alibaba Cloud has committed $1 billion to expand its infrastructure.


Toyota is recalling approximately 838,000 model year 2011 to 2016 Sienna minivans in the U.S., South Korea and Taiwan. The sliding side door's motor circuit may be overloaded if the door is impeded while opening. Toyota engineers are developing a solution to the problem.


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 held steady at 2,198. Bitcoin climbed $8 to $746.

Sales of existing homes soared to its highest level in more than nine years to lift the markets to a higher open with the Dow gaining 42 points to 18,998. Nasdaq rose 14 points 5,383.


On the upside


Canada granted a Medical Device Establishment License to Skyline Medical (Nasdaq: SKLN) for its STREAMY System.


Dollar Tree (Nasdaq: DLTR) reported sharply higher third earnings that topped analyst estimates and lifted its current quarter outlook.


Third quarter earnings surged for Burlington Stores (NYSE: BURL) to beat expectations.


On the downside


Patterson (Nasdaq: PDCO) reported second quarter earnings that fell short of expectations.


The Food and Drug Administration did not clear Amedica's (Nasdaq: AMDA) 510(k) premarket application to commercialize Valeo C+CsC.


First quarter revenue for Dycom Industries (NYSE: DY) missed estimates.


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 added 3 points to 2,201. Bitcoin gained $5 to $744.

M&A activity boosts markets

|

Merger and acquisition activity boosted the markets to a higher close with the Dow climbing 88 points to 18,956. Nasdaq gained 47 points 5,368.


On the upside


Microvision (Nasdaq: MVIS) signed a patent license agreement allowing ODM to make and sell Laser Beam Scanning engines using Macrovision's PicoP scanning technology.


AgroFresh Solutions (Nasdaq: AGFS) extended its gains.


Rising crude oil prices lifted shares of Chesapeake Energy (NYSE: CHK) and Whiting Petroleum (NYSE: WLL).


On the downside


DryShips (Nasdaq: DRYS) settled an outstanding loan obligation with one of its lenders and closed a registered direct offering.


Sino-Global Shipping (Nasdaq: SINO) extended its losses.


Analysts expect Adverum Biotechnologies (Nasdaq: ADVM) to post a loss for the fourth quarter.


In the broad market, advancing issues outpaced decliners by a margin of 3 to 1 on the NYSE and by more than 7 to 5 on Nasdaq. The broader S&P 500 soared 16 points to 2,198. Bitcoin climbed $10 to $736.

Oracle buys Dyn

|

The markets extended its gains during the midday with the Dow climbing 67 points to 18,935. Nasdaq gaining 41 points 5,363.


Oracle has acquired Internet infrastructure provider Dyn for an undisclosed sum. Dyn monitors Internet traffic allowing businesses to control and optimize applications and cloud services. Dyn was the victim of a massive distributed denial of service attack on October 21 that took down sites such as Netflix, Twitter and Amazon.


Microsoft submitted concessions to the European Commission in order to win approval for the technology company's proposed $26.2 billion acquisition of LinkedIn. LinkedIn's rival professional social networks will continue to be allowed access to Microsoft's API software. Hardware makers will have the option to install LinkedIn or a competing social network.


Apple announced that it will replace the batteries of certain iPhone 6S models that may unexpectedly shut down. The phones were made between September 2015 to October 2015. Affected customers can have their phone batteries replaced at an authorized service provider or a local Apple store.


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 4 on Nasdaq. The broader S&P 500 climbed 14 points to 2,196. Bitcoin soared $10 to $736.

Rising crude oil prices lifted the markets to a higher open with the Dow gaining 28 points to 18,896. Nasdaq rose 16 points 5,338.


On the upside


Symantec (Nasdaq: SYMC) will pay a premium of approximately $2.3 billion to acquire LifeLock (NYSE: LOCK).


Headwaters (NYSE: HW) will be acquired by Boral for a premium of approximately $1.8 billion in cash.


Shares of RXi Pharmaceuticals (Nasdaq: RXII) surged on no news.


On the downside


Fourth quarter earnings and revenue for Tyson Foods (NYSE: TSN) fell short of analyst expectations and chief executive Donnie Smith will leave the company on December 31, 2016.


Sunoco Logistics Partners (NYSE: SXL) will acquire Energy Transfer Partners (NYSE: ETP) in an all stock transaction.


Live Ventures (Nasdaq: SHIP) reported higher preliminary fourth quarter earnings and revenue.


In the broad market, advancing issues outpaced decliners by a margin of more than 3 to 1 on the NYSE and by 7 to 5 on Nasdaq. The broader S&P 500 gained 6 points to 2,188. Bitcoin climbed $8 to $735.

Lower close on profit taking

|

The markets closed lower with the Dow falling 35 points to 18,867 as investors locked in profits. Nasdaq lost 12 points 5,321.


On the upside


Rebounding crude oil prices lifted shares of Torchlight Energy Resources (Nasdaq: TRCH).


Synutra International (Nasdaq: SYUT) agreed to merge with Beams Power Investment and Beams Power Merger Sub.


Shares of Ocular Therapeutics (Nasdaq: OCUL) extended its gains.


On the downside


Hibbett Sports (Nasdaq: HIBB) reported lower third quarter earnings that fell short of expectations.


Profit taking weighed down shares of Superconductor Technologies (Nasdaq: SCON).


Seanergy Maritime Holdings (Nasdaq: SHIP) priced its registered direct offering of 1.305 million common shares at the discounted price of $2.75 per share.


In the broad market, declining issues outpaced advancers by a margin of more than 10 to 9 on the NYSE while advancers edged out decliners by nearly 5 to 4 on Nasdaq. The broader S&P 500 lost 5 points to 2,181. Bitcoin eased to $742.

Fiat to sell cars through Amazon

|

The markets traded lower during the midday with the Dow falling 29 points to 18,874. Nasdaq lost 7 points 5,326.


Fiat Chrysler Automobiles partnered with Amazon to sell cars online at prices that will be up to a third lower than at a brick and mortar dealership. Only three models in Italy will initially be available. Italy's best selling Panda will be offered on Amazon along with the 500 and 500L.


DuPont will freeze its employee pension plan in approximately 2 years and will end all company contributions to the plan. Active employees will no longer accrue benefits around November 2018. Retiree health benefits which include dental and life insurance will also be eliminated.


Tesla Motors' shareholders overwhelming approved the proposed $2.6 billion acquisition of SolarCity. The merger will facilitate the creation of an integrated solar roof and energy storage product. Volume production of solar roofs will begin in the summer of 2017 with new roof varieties introduced every three months.


In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 4 on the NYSE and by nearly 10 to 9 on Nasdaq. The broader S&P 500 lost 4 points to 2,182. Bitcoin gained $7 to $740.

Flat open as crude oil falls

|

The markets opened flat with the Dow slipping 11 points to 18,892 as crude oil prices fell. Nasdaq eased a point 5,332.


On the upside


Marvell Technology Group (Nasdaq: MRVL) reversed year ago losses to post a stronger than expected profit for the third quarter, announced plans to repurchase up to $1 billion in company stock and declared a quarterly dividend.


Eyegate Pharmaceuticals (Nasdaq: EYEG) will pursue FDA approval of its EyeGate Ocular Bandage Gel through the De Novo 510(k) pathway.


Nuance Communications (Nasdaq: NUAN) swung to a greater than expected profit for the fourth quarter.


On the downside


Abercrombie & Fitch (NYSE: ANF) disappointed with sharply lower third quarter earnings as revenue and warned of a challenging holiday quarter.


The Gap (NYSE: GPS) reported lower third quarter earnings and revenue.


First NBC Bank (Nasdaq: FNBC) received a delisting notification from the Nasdaq Stock Market and entered Consent Order with the Federal Deposit Insurance Corporation and the Louisiana Office of Financial Institutions.


In the broad market, advancing issues outpaced decliners by a margin of more than 9 to 7 on the NYSE and by nearly 9 to 7 on Nasdaq. The broader S&P 500 slipped a point to 2,185. Bitcoin climbed $13 to $746.

Markets rise as jobless claims tumble

|

First time applications for unemployment benefits fell to its lowest level in 43 years to lift the markets to a higher close with the Dow gaining 35 points to 18,903. Nasdaq climbed 39 points to 5,333.


On the upside


Shares of Superconductor Technologies (Nasdaq: SCON) more than doubled on no news.


Bonso Electronics International (Nasdaq: BNSO) stock surged despite a lack of news.


Shares of Uranium Resources (Nasdaq: URRE) continued climbing.


On the downside


Profit taking weighed down shared of Diana Containerships (Nasdaq: DCIX), DryShips (Nasdaq: DRYS) and Seanergy Maritime (Nasdaq: SHIP).


Shares of Cloud Peak Energy (NYSE: CLD) extended its losses.


Stein Mart (Nasdaq: SMRT) widened losses for the third quarter as revenue slipped.


In the broad market, advancing issues outpaced decliners by a margin of 10 to 9 on the NYSE and by nearly 5 to 3 on Nasdaq. The broader S&P 500 climbed 10 points to 2,187. Bitcoin gained $3 to $734.

JPMorgan Chase pays $264 million fine

|

The markets turned positive during the midday with the Dow gaining 20 points to 18,888. Nasdaq climbed 34 points to 5,329.


JPMorgan Chase will pay a fine of $264 million to settle charges of corruption and bribery. The Securities and Exchange Commission accused the investment bank of hiring friends and relatives of Chinese government officials in order to secure more business deals. The illegal "Sons and Daughters Program" began in 2006 and continued for seven years. 


Amazon will offer its Amazon Prime premium subscription service at a $20 discount from its normal cost of $99 per year to $79 for one year. Amazon Prime members get free two-day shipping on all purchases, music streaming from Prime Music, video streaming of television shows and movies through Prime Video, and access to books and magazines through Prime Reading. The special Prime offer is available for only one day on Friday, November 18.


McDonald's customers will soon be able to order and pay for their meals through their smartphones. An app will be available next year in the U.S. and some foreign countries with plans to expand to 25,000 restaurants globally by 2018. A limited version of the app was tested in 22 locations in Columbus, Georgia.


In the broad market, advancing issues outpaced decliners by a margin of nearly 10 to 9 on the NYSE and by nearly 5 to 3 on Nasdaq. The broader S&P 500 climbed 9 points to 2,186. Bitcoin gained $5 to $736.

Mixed open as mortgage rates climb

|

The markets opened mixed with the Dow losing 11 points to 18,856 as mortgage rates climbed. Nasdaq gained 10 points to 5,304.


On the upside


Shares of Diana Containerships (Nasdaq: DCIX) and Sino-Global Shipping (Nasdaq: SINO) surged again.


Rand Logistics (Nasdaq: RLOG) more than doubled as the stock finally joined the shipping sector rally.


Western Refining (NYSE: WNR) will be acquired by Tesoro (NYSE: TSO) in a stock transaction valued at approximately $6.4 billion including the assumption of debt.


On the downside


Invitae (NYSE: NVTA) priced its public offering of approximately 7.33 million common shares at the discounted price of $6.00 per share.


First quarter earnings slipped for Cisco (Nasdaq: CSCO) and the company forecast current quarter results below estimates.


Investors locked in profits on Euroseas (Nasdaq: ESEA).


In the broad market, advancing issues outpaced decliners by a margin of 2 to 1 on the NYSE and by more than 5 to 3 on Nasdaq. The broader S&P 500 gained 4 points to 2,181. Bitcoin climbed $4 to $736.

Mixed close as crude oil retreats

|

It was a mixed close for the markets with the Dow falling 54 points to 18,868 as crude oil prices retreated. Nasdaq gained 18 points to 5,294.


On the upside


Globus Maritime (Nasdaq: GLBS) and Global Ship Lease (NYSE: GSL) joined the shipping stock rally.


Shares of China Natural Resources (Nasdaq: CHNR) more than doubled on no news.


Voltari (Nasdaq: VLTC) stock surged on no news.


On the downside


Exact Sciences (Nasdaq: EXAS) president and chief executive Kevin T. Conroy sold 600,000 shares of company stock.


Citron Research alleged that Mallinckrodt (NYSE: MNK) overstated Acthar CMS sales.


Iceberg Research said that the stock pricer of Tutor Perini (NYSE: TPC) could plunge up to 55%.


In the broad market, advancing issues outpaced decliners by a margin of 10 to 9 on the NYSE and by nearly 10 to 9 on Nasdaq. The broader S&P 500 lost 3 points to 2,176. Bitcoin surged $25 to $733.

Snapchat files for confidential IPO

|

The markets traded mixed during the midday with the Dow dropping 84 points to 18,839. Nasdaq gained 16 points to 5,292.


Snapchat parent company Snap filed for a confidential initial public offering with plans to go public in March 2017. The company is expected to be valued at between $20 billion to $25 billion. Annual revenue is estimated to be between $250 million to $350 million for 2016. Snapchat has approximately 150 million daily users.


Target is expanding its experiment with small-format stores with plans to open hundreds of stores at new locations in dense, urban areas and college towns. The retailer currently operates 30 small-format stores. The products available at the small stores will be unique and tailored to its local customers.


Volkswagen hopes to finalize new agreements with its labor unions so that cost cuts can be implemented. In the wake of an emissions cheating scandal, the German automaker seeks to transform itself by investing in electric and self-driving vehicles. Volkswagen was fined $14.7 billion for the emissions scandal.


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 lost 6 points to 2,173. Bitcoin soared $17 to $725.

Mixed open as producer prices

|

The markets opened mixed with the Dow losing 44 points to 18,878 as producer prices held steady in October. Nasdaq gained 19 points to 5,294.


On the upside


Shares of Diana Containerships (Nasdaq: DCIX), Euroseas (Nasdaq: ESEA), Seanergy Maritime Holdings (Nasdaq: SHIP), and Sino-Global Shipping (Nasdaq: SINO) extended their gains.


StemCells (Nasdaq: STEM) held a special stockholder meeting yesterday.


Aurinia Pharmaceuticals (Nasdaq: AUPH) presented additional upbeat findings from its Phase IIb AURA study of voclosporin to treat lupus nephritis.


On the downside


The Food and Drug Administration requested that Endologix (Nasdaq: ELGX) provide 2-year patient follow-up data from the EVAS-FORWARD IDE Study of the Nellie EndoVascular Aneurysm Sealing System.


PDL BioPharma (Nasdaq: PDLI) will offer $150 million in new convertible senior notes.


Flexion Therapeutics (Nasdaq: FLXN) priced its public offering of 3.6 million common shares at the discounted price of $18.00 per share.


In the broad market, declining issues outpaced advancers by a margin of 9 to 7 on the NYSE and by more than 10 to 9 on Nasdaq. The broader S&P 500 slipped 2 points to 2,177. Bitcoin soared $17 to $725.

Higher close as crude oil climbs

|

Crude oil prices climbed to lift the markets to a higher close with the Dow gaining 54 points to 18,923. Nasdaq soared 57 points to 5,275.


On the upside


Shares of Diana Containerships (Nasdaq: DCIX) and DryShips (Nasdaq: DRYS) soared as shipping capacity demand surged.


Sino-Global Shipping (Nasdaq: SINO) reported sharply higher first quarter earnings.


Rising crude oil prices lifted shares of California Resources (NYSE: CRC).


On the downside


Tesaro (Nasdaq: TSRO) priced its public offering of 1.75 million common shares at the discounted price of $135.00 per share.


TTM Technologies (Nasdaq: TTMI) announced a public secondary offering of 12 million common shares by its largest shareholder Su Sih.


Third quarter earnings slipped for Alarm.com (Nasdaq: ALRM).


In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 2 on the NYSE and by more than 7 to 5 on Nasdaq. The broader S&P 500 soared 16 points to 2,180. Bitcoin climbed $6 to $709.

Mazda recalls 70,000 vehicles

|

The markets traded mixed during the midday with the Dow losing 26 points to 18,841. Nasdaq gained 39 points to 5,257.


Mazda Motor will recall approximately 70,000 model years 2004 to 2008 RX-8 sports cars to fix potentially faulty fuel pump sealing rings. Exposure to heat may cause the rings to deteriorate causing fuel to leak and possibly start a fire. The fuel pump sealing rings will be replaced for free.


United Continental made changes to its low fare tickets. People who purchase the airline's cheapest tickets will be restricted to only one carry-on bag that fits under a seat. Carry-on bags that fit in overhead bins will not be allowed. In addition, seats will not be assigned to low fare customers until departure day so families may be forced to sit in separate sections.


Non-profit artificial intelligence research firm OpenAI will run its large-scale experiments on Microsoft's Azure cloud service. OpenAI will conduct experiments in deep learning and collaborate with Microsoft to create new tools and technologies. OpenAI is backed by LinkedIn co-founder Reid Hoffman, Telsa chief executive Elon Musk, and Amazon Web Services.


In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 3 on the NYSE and by nearly 10 to 9 on Nasdaq. The broader S&P 500 gained 6 points to 2,170. Bitcoin soared $8 to $710.

Mixed open as import prices rise

|

The markets opened mixed with the Dow losing 29 points to 18,839 as import prices increased 0.5% in October while export prices edged up 0.2%. Nasdaq climbed 49 points to 5,268.


On the upside


A sharp increase in shipping capacity demand sent shares of Euroseas (Nasdaq: ESEA), Seanergy Maritime (Nasdaq: SHIP) and Top Ships (Nasdaq: TOPS) soaring.


Advance Auto Parts (NYSE: AAP) reported better than expected earnings and revenue for the third quarter.


JD.com (Nasdaq: JD) reported a smaller than expected loss for the third quarter as revenue climbed.


On the downside


Third quarter earnings for Amplify Snack Brands (NYSE: BETR) fell short of expectations.


Sally Beauty (NYSE: SBH) reported fourth quarter revenue that missed estimates.


Stratasys (Nasdaq: SSYS) disappointed with a wider than expected loss for the third quarter.


In the broad market, advancing issues outpaced decliners by a margin of nearly 3 to 2 on the NYSE while decliners edged out advancers by more than 10 to 9 on Nasdaq. The broader S&P 500 gained 6 points to 2,170. Bitcoin climbed $4 to $706.

Mixed close as technology stocks fall

|

The markets markets closed mixed with the Dow rising 21 points to 18,868 despite merger and acquisition activity as technology stocks posted losses. Nasdaq fell 18 points to 5,218.


On the upside


Shares of DryShips (Nasdaq: DRYS) extended its gains.


Eagle Bulk Shipping (Nasdaq: EGLE) acquired a resale 2017-built 64,000 deadweight SDARI-64 Ultramar dry bulk vessel.


AECOM (NYSE: ACM) reported higher fourth quarter earnings.


On the downside


Puma Biotechnology's (NYSE: PBYI) breast cancer treatment neratinib may be too toxic to gain regulatory approval.


Profit taking weighed down shares of Vince Holding (NYSE: VNCE).


Investors locked in profits on Turtle Beach (Nasdaq: HEAR).


In the broad market, advancing issues outpaced decliners by a margin of nearly 10 to 9 on the NYSE and by more than 7 to 5 on Nasdaq. The broader S&P 500 held steady at 2,164. Bitcoin climbed $4 to $702.

The markets traded mixed during the midday with the Dow rising 20 points to 18,868. Nasdaq lost 12 points to 5,225.


BMW will offer more models of electric vehicles to improve sales of fully electric and hybrid cars to 100,000 next year from 60,000 this year. The luxury automaker is also raising the range of the batteries in its i3 by 50%. Only 25,000 i3s were sold last year.


For the second time in less than two years, American Apparel has filed for Chapter 11 bankruptcy protection. The reorganization plan that was implemented after the teen apparel retailer's first bankruptcy filing failed to improve its product offerings, execute a cohesive marketing strategy or increase online sales. American Apparel has already agreed to sell its intellectual property assets and inventory to Gildan Activewear for approximately $66 million.


Nostalgic gamers snapped up Nintendo's NES Classic on Friday with the console selling out in stores and online. eBay already had the NES Classic listed for between $200 to $500 the same day that the device was released. The NES Classic is a miniature version of the Nintendo Entertainment System with 30 preloaded classic games such as Super Mario Bros, Donkey Kong, The Legend of Zelda and Pac-Man.


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 nearly 5 to 4 on Nasdaq. The broader S&P 500 added a point to 2,165. Bitcoin rose $1 to $700.

The markets opened higher with the Dow climbing 84 points to 18,932 on corporate consolidations. Nasdaq added a point to 5,238.


On the upside


Corbus Pharmaceuticals (Nasdaq: CRBP) reported positive results from a Phase 2 study of Resunab to treat diffuse cutaneous systemic sclerosis.


Siemens will pay a premium of approximately $4.5 billion in cash to acquire Mentor Graphics (Nasdaq: MENT).


Harman International (NYSE: HAR) will be acquired by Samsung Electronics for premium of approximately $8 billion in cash.


On the downside


The Food and Drug Administration issued a Complete Response Letter to Dynavax Technologies (Nasdaq: DVAX) for its Biologics License Application for HEPLISAV-B.


Resource Capital (NYSE: RSO) fell to a loss for the third quarter.


Profit taking weighed down shares of Nvidia (Nasdaq: NVDA).


In the broad market, advancing issues outpaced decliners by a margin of 10 to 9 on the NYSE and by nearly 2 to 1 on Nasdaq. The broader S&P 500 held steady at 2,164. Bitcoin eased a fraction to $697.

Higher close as Trump assembles team

|

The markets reversed course to close higher with the Dow rising 39 points to 18,847 as president elect Donald Trump begins assembling his cabinet. Nasdaq gained 28 points to 5,237.


On the upside


Triton International (NYSE: TRTN) fell to a loss for the third quarter but revenue soared and the company declared a quarterly cash dividend of 45 cents per share payable on December 22, 2016 to shareholders of record December 2, 2016.


Shares of Navios Maritime (NYSE: NM) continued climbing.


Turtle Beach (Nasdaq: HEAR) reported higher third quarter revenue and lifted its full year outlook.


On the downside


Falling gold prices weighed down shares of DRDGOLD (NYSE: DRD) and Harmony Gold (NYSE: HMY).


Shares of Endeavour Silver (NYSE: EXK), Fortuna Silver Mines (NYSE: FSM), Silver Standard Resources (Nasdaq: SSRI) and Silver Wheaton (NYSE: SLW) all fell as silver prices dropped.


Photronics (Nasdaq: PLAB) warned that fourth quarter results would falls short of expectations.


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 2 on Nasdaq. The broader S&P 500 lost 3 points to 2,164. Bitcoin added $1 to $712.

Global crude oil supplies climb

|

The markets traded mixed during the midday with the Dow slipping 2 points to 18,805 while Nasdaq gained 21 points to 5,229.


The International Energy Agency reported that global crude oil supplies climbed in October by 800,000 barrels per day to 97.8 million bpd. The Organization of the Petroleum Exporting Countries contributed a record 33.64 million bpd to the global supply. OPEC had pledged to reduce output to between 32.5 million bpd and 33.0 million bpd. Investors doubt that OPEC will reach an output agreement at its next meeting on November 30.


The discovery of another software device in Audi vehicles to cheat emissions tests compelled lawyers to request a second round of questioning for Audi chief executive Rupert Stadler. The date for Stadler to face law firm Jones Day still needs to be scheduled. Stadler is in the middle of negotiating a settlement with the Justice Department over its previously disclosed emissions scandal.


Alibaba reported record sales of $17.73 billion on its Singles Day online shopping event. Total sales soared 32% over last year, but came in much lower than the 60% increase from 2014 to 2015. Approximately 85% of all purchases were made using a mobile device.


In the broad market, advancing issues were on par with decliners on the NYSE while advancers outpaced decliners by a margin of more than 2 to 1 on Nasdaq. The broader S&P 500 fell 5 points to 2,162. Bitcoin added $2 to $713.

Lower open on profit taking

|

The markets opened lower with the Dow falling 49 points to 18,758 as investors locked in profits. Nasdaq lost 15 points to 5,192.


On the upside


Nvidia (Nasdaq: NVDA) impressed with sharply higher third quarter earnings and revenue that surpassed analyst expectations .


The Committee for Medicinal Products for Human Use of the European Medicines Agency recommended the conditional marketing authorization of PTC Therapeutics' (Nasdaq: PTCT) nonsense mutation Duchenne muscular dystrophy treatment Translarna.


Shares of DryShips (Nasdaq: DRYS) continued climbing.


On the downside


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


A Brazilian federal court ruled that Vale (NYSE: VALE), BHP Billiton (NYSE: BHP) and Samarco Mineracao must deposit $354 million into a fund to clean up and repair damage from a catastrophic dam failure in November 2015 that killed 19 people and caused an environmental disaster.


Michael Kors (NYSE: KORS) reported lower second quarter earnings and revenue and forecast current quarter as well as full year results that fell short of expectations.


In the broad market, declining issues outpaced advancers by a margin of 10 to 9 on the NYSE while advancers outpaced decliners by more than 7 to 5 on Nasdaq. The broader S&P 500 dropped 9 points to 2,158. Bitcoin added $2 to $712.

It was a mixed close for the markets with the Dow leaping 218 points to 18,807 as investors continued to speculate about a Trump presidency. Nasdaq plunged 42 points to 5,208.


On the upside


DryShips (Nasdaq: DRYS) narrowed losses for the third quarter.


Encore Capital Group (Nasdaq: ECPG) reported a smaller loss for the third quarter.


SodaStream International (Nasdaq: SODA) reported higher third quarter earnings and revenue that topped analyst estimates.


On the downside


CPI Card Group (Nasdaq: PMTS) disappointed with lower third quarter earnings that fell short of expectations prompting a downgrade.


58.com (NYSE: WUBA) reported a loss for the third quarter.


Novavax (Nasdaq: NVAX) widened losses for the third quarter as revenue plunged and announced that it will cut approximately 30% of its workforce.


In the broad market, declining issues edged out advancers by a margin of nearly 5 to 4 on the NYSE while advancers outpaced decliners by nearly 5 to 3 on Nasdaq. The broader S&P 500 gained 4 points to 2,167. Bitcoin fell $7 to $707.

The markets traded mixed during the midday with the Dow soaring 139 points to 18,728. Nasdaq plunged 58 points to 5,192.


Macy's hired Brookfield Asset Management to explore options for redeveloping at least 50 key properties. Most of the locations are inside malls. The private investment firm has two years to provide development plans to the department store operator. Macy's also announced that it will sell its Union Square Men's building in San Francisco for $250 million.


Google responded to the European Commission's charges that the company engaged in antitrust practices. Google argued that the Android ecosystem balanced the interests of users, developers, hardware makers, and mobile network operators. The technology firm also noted that Android faces competition from Apple's iOS.


LinkedIn's appeal of Moscow's Tagansky District Court decision to block the social networking site has been denied. Russian law requires websites that store the personal data of Russian citizens to use Russian servers. LinkedIn's website will be blocked in Russian within a week.


In the broad market, declining issues barely edged out advancers by a slim margin on the NYSE while advancers outpaced decliners by more than 3 to 2 on Nasdaq. The broader S&P 500 eased a fraction to 2,162. Bitcoin lost $3 to $711.

Markets surge again

|

The markets surged again with the Dow soaring 142 points to 18,731 over optimism that a Trump presidency would lead to less regulations. Nasdaq gained 23 points to 5,274.


On the upside


TubeMogul (Nasdaq: TUBE) will be acquired by Adobe for a premium of approximately $540 million.


Taser International (Nasdaq: TASR) reported higher third quarter earnings and revenue that beat analyst expectations.


Kohl's (NYSE: KSS) reported better than expected earnings and revenue for the third quarter.


On the downside


Avid Technology (Nasdaq: AVID) reported lower third quarter earnings and revenue.


Anthera Pharmaceuticals (Nasdaq: ANTH) reported disappointing results from a Phase 3 study of blisibimod to treat systemic lupus erythematosus.


Falling gold prices weighed down shares of Barrick Gold (NYSE: ABX).


In the broad market, advancing issues outpaced decliners by a margin of 5 to 3 on the NYSE and by more than 5 to 2 on Nasdaq. The broader S&P 500 climbed 12 points to 2,175. Bitcoin lost $3 to $710.

Markets soar on cautious optimism

|

The markets closed sharply higher with the Dow leaping 256 points to 18,589 with investors cautiously optimistic about a Trump presidency. Nasdaq soared 57 points to 5,251.


On the upside


Sucampo Pharmaceuticals (Nasdaq: SCMP) reported higher third quarter earnings and revenue that beat expectations.


FibroGen (Nasdaq: FGEN) narrowed third quarter losses as revenue soared.


Ionis Pharmaceuticals (NYSE: IONS) swung to a profit for the third quarter as revenue more than doubled.


On the downside


The Food and Drug Administration has placed a clinical hold on Arrowhead Pharmaceuticals' (Nasdaq: ARWR) Heparc-2004 clinical study of ARC-520.


Concerns that president elect Donald Trump will repeal the Affordable Care Act sent shares of Centene (NYSE: CNC) plummeting.


Fears of restrictive gun regulations eased with a Trump victory sending shares of Smith & Wesson (Nasdaq: SWHC) lower.


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 2 on Nasdaq. The broader S&P 500 soared 23 points to 2,163. Bitcoin gained $11 to $715.

GoPro recalls Karma drone

|

The markets advanced during the midday with the Dow jumping 309 points to 18,641 on optimism that infrastructure spending could boost the economy. Nasdaq surged 59 points to 5,253.


GoPro recalled 2,500 Karma drones that were sold after October 23 after a number of drones lost power while in flight. Replacement drones are currently unavailable. Instead, customers will be given a full refund for the $800 device.


The legal recreational use of marijuana was approved in at least three states on Tuesday. California, Massachusetts and Nevada legalized marijuana for adults over 21 years of age. A marijuana industry group said that the marijuana market could expand from this year's estimate of $7.9 billion to $21 billion by 2020.


The proposed $85.4 billion merger between AT&T and Time Warner may now be in jeopardy with Donald Trump in the White House. The president elect has vowed to block the transaction saying that too much power would be concentrated in too few hands. AT&T remained optimistic that the deal would be approved.


In the broad market, advancing issues outpaced decliners by a margin of 5 to 4 on the NYSE and by 5 to 2 on Nasdaq. The broader S&P 500 leaped 29 points to 2,168. Bitcoin gained $13 to $716.

Mixed open on Trump victory

|

The markets opened mixed with the Dow rising 15 points to 18,348 while Nasdaq lost 15 points to 5,178 as investors reacted to Donald Trump's election victory.


On the upside


Shares of U.S. Steel (NYSE: X) and AK Steel (NYSE: AKS) climbed after Donald Trump won the presidential election.


A Trump victory sent shares of prison operators Correction Corporation of America (NYSE: CXW) and The  GEO Group (NYSE: GEO) soaring.


United Rentals (NYSE: URI) opened seven more specialty rental branches.


On the downside


Shares of BioScrip (Nasdaq: BIOS) extended its losses.


Shares of Community Health Systems (NYSE: CYH) and Tenet Healthcare (NYSE: THC) plunged on the presidential election results.


Third quarter revenue for TripAdvisor (Nasdaq: TRIP) missed analyst expectations.


In the broad market, declining issues outpaced advancers by a margin of nearly 3 to 1 on the NYSE and by more than 5 to 3 on Nasdaq. The broader S&P 500 added 2 points to 2,142. Bitcoin climbed $14 to $717.

The markets closed higher with the Dow climbing 73 points to 18,332 in anticipation of a Clinton victory. Nasdaq gained 27 points to 5,193.


On the upside


Osiris Therapeutics (Nasdaq: OSIR) reported preliminary restated revenue estimates for 2014 and 2015 and anticipated revenue for 2016.


Celldex Therapeutics (Nasdaq: CLDX) narrowed losses more than expected loss for the third quarter as revenue doubled.


Synchronoss Technologies (Nasdaq: SNCR) reported better than expected earnings for the third quarter.


On the downside


Kindred Healthcare (NYSE: KND) widened third quarter losses significantly and announced plans to exit the skilled nursing facility business.


BioScrip (Nasdaq: BIOS) reported a loss for the third quarter and cut its current quarter and full year forecast.


Depomed (Nasdaq: DEPO) widened third quarter losses more than expected and cut its full year forecast.


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 gained 8 points to 2,139. Bitcoin added $4 to $704.

The markets rebounded during the midday with the Dow soaring 132 points to 18,392. Nasdaq climbed 41 points to 5,207.


A class action lawsuit has been filed against Facebook for racial discrimination. Plaintiffs allege that Facebook's ad targeting tool allows discrimination against racial minorities in housing and employment ads. Targeting and excluding certain racial groups violates the Fair Housing Act and the Article VII of the Civil Rights Act of 1964.


Smith & Wesson is seeking shareholder approval to change its name to American Outdoor Brands beginning on January 1, 2017. The gun maker has expanded into the outdoors market by offering flashlights and tree saws. The name change will apply to the holding company. Smith & Wesson will continue to be the brand of its firearms unit.


Ireland will appeal an order by the European Commission that Apple pay $14.5 billion in unpaid taxes. The competition enforcer for the European Union said that Apple's tax deal which allowed the technology company to pay very little taxes to Ireland was illegal. Ireland's low corporate tax rate of 12.5% has been instrumental in the nation's efforts to lure international firms to its shores.


In the broad market, advancing issues outpaced decliners by a margin of 3 to 2 on the NYSE and by nearly 7 to 5 on Nasdaq. The broader S&P 500 climbed 13 points to 2,145. Bitcoin gained $5 to $705.

Lower open on election day

|

The markets opened lower with the Dow falling 35 points to 18,223 as the nation cast their votes in the presidential election. Nasdaq lost 14 points to 5,151.


On the upside


Acadia Pharmaceuticals (Nasdaq: ACAD) reported a smaller than expected loss for the third quarter as revenue surged.


Iamgold (NYSE: IAG) swung to a better than expected profit for the third quarter as revenue rose.


Stone Energy (NYSE: SGY) narrowed losses for the third quarter.


On the downside


Hertz Gobal (NYSE: HTZ) disappointed with sharply lower third quarter earnings that fell short of expectations and cut its full year forecast.


Valeant Pharmaceuticals (NYSE: VRX) fell to a greater than expected loss for the third quarter and cut its outlook for the full year.


Wedbush Securities downgraded OneMain Holdings (NYSE: OMF) from an Outperform rating to a Neutral rating while Merrill Lynch downgraded the company from a Buy rating to an Underperform rating.


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 5 points to 2,125. Bitcoin gained $7 to $707.

The markets welcomed news that the FBI cleared Democratic presidential nominee Hillary Clinton of wrongdoing related to her handling of emails. Triple digit gains were posted by both with the Dow and Nasdaq with the blue chip index rocketing 371 points to 18,259. Nasdaq leaped 119 points to 5,166.


On the upside


Bain Capital Private Equity and Bow Street will take Blue Nile (Nasdaq: NILE) private for a premium of approximately $500 million in cash.


Amicus Therapeutics (Nasdaq: FOLD) reported third quarter revenue of $2.1 million compared with no revenue last year.


Datalink (Nasdaq: DTLK) will be acquired by Insight Enterprises (Nasdaq: NSIT) for a premium of approximately $258 million.


On the downside


HSN (Nasdaq: HSNI) disappointed with lower third quarter earnings and revenue.


The Patent and Trademark Office denied Coheres BioSciences' (Nasdaq: CHRS) petition for Inter Partes Review of Abbie's U.S. Patent 9,114,166 related to Abbie's HUMIRA formulation.


Shares of 500.com (NYSE: WBAI) plunged on no news.


In the broad market, advancing issues outpaced decliners by a margin of more than 4 to 1 on both the NYSE and on Nasdaq. The broader S&P 500 jumped 46 points to 2,131. Bitcoin fell $7 to $700.

The markets extended its gains during the midday with the Dow rocketing 347 points to 18,235. Nasdaq leaped 118 points to 5,164.


Tesla will begin charging new customers a small fee to use their Supercharger Network. There are more than 4,600 chargers globally that are currently free for Tesla owners. Customers who order a Tesla after January 1, 2017 will be allowed to charge 1,000 miles per year for free. 


A change to WhatsApp's privacy policy on August 25, 2016 triggered an investigation by the Information Commissioner's Office. The UK's privacy regulator has now asked Facebook and WhatsApp to explain the policy changes more clearly to its customers or face a fine. Facebook has agreed to temporarily halt the use of data from UK WhatsApp for advertising purposes.


The Securities and Exchange Commission issued subpoenas to four banks as part of an investigation into the possible mishandling of securities in the American Depositary Receipt market. Bank of New York Mellon, Citigroup, Deutsche Bank, and JPMorgan Chase may have broken controls that were designed to prevent market abuse and tax fraud.


In the broad market, advancing issues outpaced decliners by a margin of 6 to 1 on the NYSE and by more than 5 to 1 on Nasdaq. The broader S&P 500 leaped 43 points to 2,128. Bitcoin dropped $9 to $699.

Markets surge after Clinton cleared

|

The markets surged to a sharply higher open with the Dow leaping 264 points to 18,152 after the FBI said that Secretary Hillary Clinton would not face criminal charges related to her handling of emails. Nasdaq jumped 86 points to 5,132.


On the upside


The majority of a Food and Drug Administration advisory committee voted that the efficacy results of Cempra's (Nasdaq: CEMP) solithromycin outweighed the risks for community acquired bacterial pneumonia.


Ionis Pharmaceuticals (Nasdaq: IONS) reported positive results from an interim analysis of a Phase 3 study of SPINARZA in later onset spinal muscular atrophy.


Lending Club (NYSE: LC) reported a smaller than expected loss for the third quarter.


On the downside


Concordia International (Nasdaq: CXRX) fell to a loss for the third quarter.


EarthLink Holdings (Nasdaq: ELNK) will merge with Windstream Holdings (Nasdaq: WIN) in an all stock deal valued at approximately $1.1 billion.


Plug Power (Nasdaq: PLUG) widened third quarter losses more than expected.


In the broad market, advancing issues outpaced decliners by a margin of more than 11 to 1 on the NYSE and by more than 6 to 1 on Nasdaq. The broader S&P 500 leaped 32 points to 2,117. Bitcoin dropped $9 to $698.

Rate hike fears weigh down markets

|

Concerns about an interest rate increase in December weighed the markets down to a lower close with the Dow falling 42 points to 17,888. Nasdaq lost 12 points to 5,046.


On the upside


ConforMIS (Nasdaq: CFMS) narrowed third quarter losses more than expected as revenue climbed.


Third quarter revenue for Hortonworks (Nasdaq: HDP) surged to top expectations and the company forecast current quarter revenue ahead to estimates.


Exelixis (Nasdaq: EXEL) narrowed losses for the third quarter more than expected.


On the downside


Invuity (Nasdaq: IVTY) reported a loss for the third quarter.


Clean Energy Fuels (Nasdaq: CLNE) reported a loss for the third quarter and revenue that missed expectations.


LiLAC (Nasdaq: LILA) disappointed with third quarter results that fell short of estimates.


In the broad market, advancing issues barely edged out decliners by a slim margin on both the NYSE and on Nasdaq. The broader S&P 500 slipped 3 points to 2,085. Bitcoin edged up to $692.

Upbeat employment data lifted the markets during the midday with the Dow gaining 39 points to 17,970. Nasdaq climbed 16 points to 5,075.


The planned joint venture between Delta Air Lines and Grupo Aeromexico has received tentative approval from the Department of Transportation. The regulatory agency recommended that the two airlines divest takeoff and landing slots from New York's John F. Kennedy International Airport to low-cost carriers to allow 24 new daily international flights from Mexico City and  create six new daily flights from JFK.


Samsung Electronics has issued another recall, this time for washing machines. The tops of approximately 2.8 million top loading washing machines can unexpectedly separate from the machine during a high-speed spin cycle. Thirty four models of machines made between March 2011 and November 2016 are being recalled.


Institutional Shareholder Services has recommended that shareholders approve Tesla's proposed acquisition of SolarCity. The shareholder advisory firm said that Tesla was paying a bargain price for SolarCity and that the deal was necessary for Tesla to becoming an integrated sustainable energy company.


In the broad market, advancing issues outpaced decliners by a margin of nearly 2 to 1 on the NYSE and by nearly 7 to 3 on Nasdaq. The broader S&P 500 gained 8 points to 2,097. Bitcoin added $2 to $691.

The nation's unemployment rate slipped to 4.9% in October but the markets opened flat with the Dow slipping 9 points to 17,921. Nasdaq held steady at 5,058.


On the upside


FireEye (Nasdaq: FEYE) narrowed third quarter losses more than expected as revenue rose.


Alexion Pharmaceuticals (Nasdaq: ALXN) will present new interim data from a Phase 1/2 dose-escalation study of ALXN1210 at the 58th American Society of Hematology Annual Meeting & Exposition in December.


Delcath Systems (Nasdaq: DCTH) chief executive Jennifer K. Simpson Ph.D. updated stockholders of the company's clinical and commercial progress.


On the downside


MDC Partners (Nasdaq: MDCA) widened third quarter losses and hired LionTree to evaluate the company's financial and capital structure strategy.


Cornerstone OnDemand (Nasdaq: CSOD) reported a loss for the third quarter prompting downgrades.


NeoPhotonics (NYSE: NPTN) fell to a loss for the third quarter.


In the broad market, advancing issues outpaced decliners by a margin of 10 to 9 on the NYSE and by more than 9 to 7 on Nasdaq. The broader S&P 500 slipped a point to 2,087. Bitcoin climbed $12 to $701.

A slowdown in service sector expansion weighed the markets down to a lower close with the Dow losing 28 points to 17,930. Nasdaq tumbled 47 points to 5,058.


On the upside


GTCR will pay a premium of approximately $800 million in cash to acquire Inteliquent (Nasdaq: IQNT).


Metaldyne Performance Group (NYSE: MPG) will be acquired by American Axle & Manufacturing (NYSE: AXL) for approximately $1.6 billion in cash and stock.


Microsemi (Nasdaq: MSCC) introduced its new SimpliPHY Gigabit Ethernet and Fast Ethernet PHYs.


On the downside


Trillium Therapeutics (Nasdaq: TRIL) advanced its advanced hematologic malignancies treatment TTI-621 from dose escalation into Phase 1b cohort expansion enrollment but the stock price tumbled.


Achillion Pharmaceuticals (Nasdaq: ACHN) fell to a loss for the third quarter.


Amyris (Nasdaq: AMRS) reported a loss for the third quarter.


In the broad market, declining issues outpaced advancers by more than 7 to 5 on the NYSE and by more than 5 to 3 on Nasdaq. The broader S&P 500 fell 9 points to 2,088 Bitcoin plunged $25 to $699.

The markets traded lower during the midday with the Dow slipping 12 points to 17,947. Nasdaq fell 28 points to 5,076.


Google rejected allegations by European Union antitrust regulators that the search engine abused its dominant market position. Regulators have accused Google of diverting traffic from rivals to its own comparison shopping site. Google is also charged with promoting its own services over those offered by competitors.


Wells Fargo warned that its legal expenses could soar to $1.7 billion. Investigations into the bank's sales practices have been initiated by the Justice Department as well as a number of state attorneys general. The Securities and Exchange Commission has also opened an inquiry into Wells Fargo. Despite the significant legal costs, Wells Fargo said that the amount would not have a material adverse effect on the company's consolidated financial conditions.


Uber has redesigned its app to make it easier for customers to use. The ride hailing app will now provide upfront pricing and arrival time estimates for each Uber service so that consumers can see cost differential for using UberPool compared with its regular solo service. The new app can also suggest convenient pick-up spots and send notifications to contacts that a customer is meeting.


In the broad market, advancing issues barely edged out decliners by a slim margin on the NYSE while decliners outpaced advancers by nearly 9 to 7 on Nasdaq. The broader S&P 500 lost 4 points to 2,093. Bitcoin dropped $13 to $711.

Mixed open as jobless claims rise

|

The markets opened mixed with the Dow gaining 31 points to 17,991 while Nasdaq lost 7 points to 5,098 as first time applications for unemployment benefits rose.


On the upside


Lattice Semiconductor (Nasdaq: LSCC) will be acquired by Canyon Bridge Capital Partners in a deal valued at approximately $1.3 billion.


Marathon Oil (NYSE: MRO) narrowed third quarter losses more than expected.


Transocean (NYSE: RIG) reported better than expected earnings for the third quarter.


On the downside


Fitbit (NYSE: FIT) reported lower third quarter earnings and forecast current quarter revenue well below analyst expectations.


Diplomat Pharmacy (NYSE: DPLO) disappointed with sharply lower third quarter earnings and cut its full year forecast prompting a downgrade.


TreeHouse Foods (NYSE: THS) reported lower than expected third quarter earnings and cut its full year guidance.


In the broad market, advancing issues outpaced decliners by more than 9 to 7 on the NYSE and by nearly 9 to 7 on Nasdaq. The broader S&P 500 added 2 points to 2,100. Bitcoin eased to $724.

The Federal Reserve held interest rates steady but indicated that an increase was possible next month. The markets closed lower with the Dow dropping 77 points to 17,959. Nasdaq tumbled 48 points to 5,105.


On the upside


Skyline Medical (Nasdaq: SKLN) expanded its relationship with GLG Pharma to include exclusive marketing and distribution rights to Poland and other Central European countries.


Office Depot (Nasdaq: ODP) reported sharply higher third quarter earnings that beat expectations.


AveXis (Nasdaq: AVXS) announced a single-arm design for its pivotal study of AVXS-101 in spinal muscular atrophy Type 1 patients.


On the downside


Myriad Genetics (Nasdaq: MYGN) fell to a greater than expected loss for the first quarter.


DexCom (Nasdaq: DXCM) reported a wider than expected loss for the third quarter.


Third quarter revenue for Paycom Software (NYSE: PAYC) missed analyst expectations.


In the broad market, declining issues outpaced advancers by nearly 7 to 2 on the NYSE and by nearly 3 to 1 on Nasdaq. The broader S&P 500 tumbled 13 points to 2,097. Bitcoin slipped $2 to $720.

Tesla owes Panasonic $1.7 billion

|

The markets traded lower during the midday with the Dow losing 31 points to 18,005 over disappointing jobs data. Nasdaq fell 18 points to 5,135.


Tesla Motors must pay Panasonic $1.7 billion for electric vehicle battery cells that were made in Tesla's Nevada gigafactory. Panasonic invested in equipment and machinery at the factory that will be used to make cylindrical lithium-ion cells. The factory will begin making batteries at the end of the year.


Volvo Car Group introduced upgraded executive vehicles for China's premium auto market. The S90 sedans have built-in refrigeration compartments and handmade crystal Orrefors glassware. Volvo plans to make the high end cars in China.


A proposed racial discrimination lawsuit against Airbnb has been blocked. A federal judge ruled that Airbnb customers must abide by the short-term home rental company's user agreement that requires private arbitration to settle disputes. Users can neither sue the company nor participate in class-action lawsuits.


In the broad market, declining issues outpaced advancers by 2 to 1 on the NYSE and by nearly 5 to 3 on Nasdaq. The broader S&P 500 fell 7 points to 2,104. Bitcoin lost $3 to $720.

Flat open on modest job data

|

The markets opened flat with the Dow slipping 8 points to 18,028 as private companies added a modest 147,000 jobs in October. Nasdaq held steady at 5,153.


On the upside


Yelp (NYSE: YELP) swung to an unexpected profit for the third quarter.


Oclaro (Nasdaq: OCLR) reversed year ago losses to post a greater than expected profit for the first quarter as revenue surged.


Broadcom (Nasdaq: AVGO) will pay a premium of approximately $5.9 billion in cash to acquire Brocade Communications (Nasdaq: BRCD).


On the downside


Adeptus (NYSE: ADPT) fell to a loss for the third quarter as revenue slipped.


A preliminary review by the Food and Drug Administration of Cempra's (Nasdaq: CEMP) community acquired pneumonia treatment solithromycin noted that the drug caused an increase in liver enzymes.


Dynegy (NYSE: DYN) widened third quarter losses significantly.


In the broad market, declining issues outpaced advancers by more than 7 to 5 on the NYSE and by more than 5 to 4 on Nasdaq. The broader S&P 500 lost a point to 2,110. Bitcoin dropped $5 to $718.

An unexpected drop in September construction spending sent the markets tumbling to a sharply lower close with the Dow plunging 105 points to 18,037. Nasdaq fell 35 points to 5,153.


On the upside


Takeda Pharmaceutical may pay up to $10 billion to acquire Valeant Pharmaceuticals' (NYSE: VRX) Salix business.


Oculus Innovative Science (Nasdaq: OCLS) sold its Latin America assets to Invekra S.A.P.I. de C.V. for approximately $19.5 million in cash.


Organovo Holdings (Nasdaq: ONVO) received strong customer response for its ExVive Human Kidney Tissue.


On the downside


Instructure (NYSE: INST) reported a loss for the third quarter.


Gannett (NYSE: GCI) abandoned its bid to acquire Tronc (Nasdaq: TRNC).


Fourth quarter earnings plunged for Marinemax (NYSE: HZO) to fall short of expectations.


In the broad market, declining issues outpaced advancers by more than 3 to 1 on the NYSE and by nearly 5 to 2 on Nasdaq. The broader S&P 500 dropped 14 points to 2,111. Bitcoin surged $23 to $723.

Amazon opens Black Friday Deals Store

|

The markets plummeted during the midday with the Dow plunging 111 points to 18,030. Nasdaq tumbled 48 points to 5,140.


Amazon opened its Black Friday Deals Store today to kick-off the holiday shopping season. There will be special sales prices on tens of thousands of items with new offers being made as often as every five minutes. The online retailer also updated its mobile app to make shopping easier.


Toyota will begin testing the Smart Key Box car sharing system in San Francisco in January 2017. Smart Key Box allows users to unlock car doors and start engines with a code on their smartphone. The system will first be tested on Lexus and Prius models that are part of the Getaround car sharing service.


Canadian auto workers union Unifor said that Ford will stop making the Ford Flex full size crossover in 2020. The Flex is built at a facility in Oakville, Ontario. For the first nine months of the year, 17,034 units of the Flex were sold in the U.S. out of a total of 1.9 million vehicles sold. Ford declined to comment on its plans for the Flex.


In the broad market, declining issues outpaced advancers by a margin of more than 7 to 2 on the NYSE and by nearly 5 to 2 on Nasdaq. The broader S&P 500 tumbled 17 points to 2,108. Bitcoin leaped $25 to $725.

The markets opened flat with the Dow slipping 2 points to 18,139 in reaction to an unexpected dip in September construction spending. Nasdaq eased a point to 5,188.


On the upside


Skyline Medical (Nasdaq: SKLN) granted GLG Pharma exclusive rights to markets and distribute the STREAMY System in the U.K.


Integrated Device Technology (Nasdaq: IDTI) reported better than expected earnings for the second quarter.


Amor Technology (Nasdaq: AMKR) impressed with sharply higher third quarter earnings and revenue.


On the downside


A judge upheld a jury's $70 million verdict against Neovasc (Nasdaq: NVCN) and added $21 million in enhanced damages.


Brookdale Senior Living (NYSE: BKD) disappointed with a wider than expected loss for the third quarter.


Pitney Bowes (NYSE: PBI) reported lower third quarter earnings that fell short of expectations.


In the broad market, advancing issues barely edged out decliners by a slim margin on the NYSE and by more than 10 to 9 on Nasdaq. The broader S&P 500 held eased a fraction to 2,125. Bitcoin leaped $24 to $724.

About this Archive

This page is an archive of entries from November 2016 listed from newest to oldest.

October 2016 is the previous archive.

December 2016 is the next archive.

Find recent content on the main index or look in the archives to find all content.

Powered by Movable Type 5.12