March 2017 Archives

Lower close as first quarter ends

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The markets extended its losses to close lower with the Dow dropping 65 points to 20,663 on the final trading day of the first quarter. Nasdaq slipped 2 points to 5,911. 


On the upside


Affiliates of investment fund New Mountain Partners will take TRC Companies (NYSE: TRR) private in an all cash transaction valued at a premium of $17.55 per common share.


Dicerna Pharmaceuticals (Nasdaq: DRNA) narrowed fourth quarter losses more than expected.


Fang Holdings (NYSE: SFUN) narrowed losses for the fourth quarter and announced that the company would return to its open-platform strategy.


On the downside


A district court invalidated four of Acorda Therapeutics' (Nasdaq: ACOR) patents pertaining to AMPYRA .


Proteostasis Therapeutics (Nasdaq: PTI) widened losses for the fourth quarter.

 

DarioHealth (Nasdaq: DRIO) priced its public offering of 1.45 million common shares at the discounted price of $3.10 per share.


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 index lost 5 points to 2,362. Bitcoin soared $32 to $1067.


The markets traded mixed during the midday with the Dow losing 22 points to 20,706 while Nasdaq rose 9 points to 5,924. 


The European Union issued its draft negotiating guidelines for the United Kingdom's exit from the EU. British Prime Minister Theresa May had requested that discussions begin immediately on post-Brexit trade deals but European Council president Donald Tusk was clear that separation details must be agreed upon before any future deals will be broached. The EU is demanding that the UK pay tens of billions of euros to settle outstanding budgetary commitments and other liabilities, grant residency rights to the millions of EU citizens who are living in the UK, and comply with EU regulatory rules.


In the patent infringement suit filed by Google parent Alphabet against Uber, former Google employee Anthony Levandowski has invoked his Fifth Amendment right to avoid self-incrimination. Alphabet claims that Levandowski stole 14,000 confidential documents while working for Google's autonomous car unit Waymo then left to found the self-driving truck company Otto using Waymo technology. Uber bought Otto in August 2016.


Comcast reassured customers that it would not sell their internet browsing information. The announcement was in response to a recently approved repeal of Federal Communications Commission regulations that protect customer privacy. Comcast said that it has never sold the web browsing history of its customers and will revise its privacy policy for more clarity and transparency.


In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 3 on the NYSE and by more than 7 to 5 on Nasdaq. The broader S&P 500 index held steady at 2,368. Bitcoin climbed $36 to $1071.


Lower open on consumer spending

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The markets opened lower with the Dow falling 40 points to 20,688 as consumer spending edged up a mere 0.1% in February. Nasdaq slipped 2 points to 5,911. 


On the upside


The Food and Drug Administration granted Fast Track designation to Akari Therapeutics' (Nasdaq: AKTX) paroxysmal nocturnal hemoglobinuria treatment Coversin.


BlackBerry (Nasdaq: BBRY) narrowed fourth quarter losses more than expected.


FMC (NYSE: FMC) will acquire the portion of DuPont's (NYSE: DD) Crop Protection business that it must divest in order to move forward with its proposed merger with The Dow Chemical Company (NYSE: DOW).


On the downside


BioLineRx (Nasdaq: BLRX) priced its public offering of approximately 29.4 million American Depositary Shares at the discounted price of $0.85 per ADS.


Investors locked in profits on Athersys (Nasdaq: ATHX).

 

Cytosorbents (Nasdaq: CTSO) priced its public offering of more than 2.22 million common shares at the discounted price of $4.50 per share.


In the broad market, advancing issues barely edged out decliners by a slim margin on the NYSE while decliners outpaced advancers by more than 7 to 5 on Nasdaq. The broader S&P 500 index slipped 2 points to 2,365. Bitcoin gained $6 to $1041.


Higher close on upbeat GDP

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The markets closed higher with the Dow climbing 69 points to 20,728 on an upbeat GDP report. Nasdaq gained 16 points to 5,914. 


On the upside


William Blair initiated coverage of Athersys (Nasdaq: ATHX) with an Outperform rating.


LightPath Technologies (Nasdaq: LPTH) added glass manufacturing capabilities as part of its vertical integration strategy.


Stage Stores (NYSE: SSI) will acquire select assets of Gordmans Stores.


On the downside


Tonix Pharmaceuticals (Nasdaq: TNXP) priced its public offering of 1.8 million common shares at the discounted price of $4.45 per share.


Fourth quarter earnings for Science Applications International (NYSE: SAIC) fell short of expectations.

 

Enrollment in the SWOG Phase 1b/2 study evaluating Halozyme Therapeutics' (Nasdaq: HALO) PEGPH20 plus modified FOLFIRINOX chemotherapy compared with modified FOLFIRINOX alone in patients with previously untreated metastatic pancreatic cancer has been temporarily halted.


In the broad market, advancing issues outpaced decliners by a margin of 3 to 2 on the NYSE and by more than 7 to 5 on Nasdaq. The broader S&P 500 index gained 6 points to 2,368. Bitcoin fell $11 to $1032.


Volkswagen settles with 10 states

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The markets retreated from early morning highs but continued trading in positive territory during the midday with the Dow gaining 30 points to 20,689. Nasdaq added 4 points to 5,902. 


Volkswagen will settle excess diesel emissions claims from ten states by paying $157.45 million in fines and penalties. Massachusetts, which will receive $20 million, and New York, which will receive $32.5 million, both said that their portion of the settlement was the largest environmental fine that they have ever received. The ten states had originally sued for penalties in the hundreds of millions of dollars.


McDonald's will begin using fresh ground beef to make its signature Quarter Pounder hamburgers in mid-2018. The change is part of the fast food chain's efforts to compete with rivals who market their fresh beef burgers. McDonald's assured customers that the price of a fresh beef Quarter Pounder will remain relatively the same.


AT&T won a government contract to build a wireless broadband network that spans the entire country for first responders. The network will provide police officers, firefighters and emergency medical personnel with a single communications network that will replace thousands of different systems and technologies that are incompatible. AT&T will receive performance and milestone based payments in the first five years of the contract that will total $6.5 billion.


In the broad market, advancing issues outpaced decliners by a margin of 3 to 2 on the NYSE and by nearly 9 to 7 on Nasdaq. The broader S&P 500 index added 3 points to 2,364. Bitcoin fell $13 to $1030.


The nation's economy expanded by a greater than expected 2.1% in the fourth quarter to lift the markets to a higher open with the Dow climbing 64 points to 20,724. Nasdaq rose 7 points to 5,905. 


On the upside


Prana Biotechnology (Nasdaq: PRAN) will present pre-clinical evidence for PBT434 as a first-in-class disease modifying therapy to treat Parkinsonian movement disorders at the 13th International Conference for Alzheimer's and Parkinson's Diseases in Vienna.


Interpace Diagnostics Group (Nasdaq: IDXG) reported higher fourth quarter earnings and revenue.


Extreme Networks (Nasdaq: EXTR) will pay approximately $55 million in cash to acquire the data center switching, routing, and analytics business from Brocade Communications Systems from Broadcom (Nasdaq: AVGO) after Broadcom completes its acquisition of Brocade.


On the downside


Lululemon Athletica (Nasdaq: LULU) disappointed with fourth quarter earnings that fell short of expectations.


Census Energy (NYSE: CVE) will acquire ConocoPhillips' (NYSE: COP) 50% stake in an oil sands partnership in Canada for approximately $13.3 billion.

 

Corbus Pharma (Nasdaq: CRBP) reported disappointing results from a Phase 2 study of anabasum to treat cystic fibrosis.


In the broad market, advancing issues outpaced decliners by a margin of more than 10 to 9 on the NYSE and by nearly 7 to 5 on Nasdaq. The broader S&P 500 index rose 4 points to 2,365. Bitcoin fell $11 to $1032.


Pending home sales surged but the markets closed mixed with the Dow falling 42 points to 20,659 as the United Kingdom officially triggered Article 50 to begin its exit from the European Union. Nasdaq gained 22 points to 5,897. 


On the upside


Athersys (Nasdaq: ATHX) chief executive Gil Van Bokkelen will present at the 16th Annual Needham Healthcare Conference in New York on Tuesday, April 4, 2017.


Motley Fool noted that DryShips (Nasdaq: DRYS) was in the process of rebuilding its fleet.


Restoration Hardware (NYSE: RH) reported better than expected results for the fourth quarter.


On the downside


Atossa Genetics (Nasdaq: ATOS) priced its public offering of 664,000 shares of common stock and warrants to purchase 664,000 shares of common stock and 3,502 shares of convertible preferred stock.


Quorum Health (NYSE: QHC) widened losses for the fourth quarter.

 

Profit taking weighed down shares of Akers Biosciences (Nasdaq: AKER).


In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 3 on the NYSE and by more than 7 to 5 on Nasdaq. The broader S&P 500 index added 2 points to 2,361. Bitcoin rose $4 to $1040.


Ford recalls 440,000 vehicles

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The markets traded mixed during the midday with the Dow dropping 52 points to 20,658. Nasdaq rose 12 points to 5,887. 


Ford Motor must recall a total of 440,000 vehicles to address two different issues. A potentially faulty door latch must be replaced in 211,000 2014 model year Ford Fiesta, 2013-2014 Ford Fusion and 2013-2014 Lincoln MKZ while 230,000 2013-2015 Ford Escape, Ford Fiesta ST, Ford Fusion and Ford Transit Connect vehicles equipped with 1.6-liter GTDI engines in North America have been recalled for under-hood fire risks. The recalls will cost $295 million.


Samsung introduced its flagship Galaxy S8 with an Infinity display and an 8-megapixel front-facing autofocus camera. The S8 comes with a 5.8-inch screen while the S8 Plus has a 6.2-inch screen. Users will be able to log in through an iris scan. Preorders begin on March 30 with shipment in the U.S. on April 21.


Wells Fargo agreed to pay $110 million to settle a class action lawsuit that was filed in May 2015 over fake accounts that bank employees created in order to meet sales quotas. Attorneys fees will be paid first from the settlement then customers who are part of the lawsuit will be reimbursed for any fees that were wrongfully collected. Approximately 2 million fake accounts were created.


In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 3 on the NYSE and by more than 7 to 5 on Nasdaq. The broader S&P 500 index held steady at 2,358. Bitcoin gained $8 to $1044.


The markets opened mixed with the Dow falling 47 points to 20,654 while Nasdaq rose 11 points to 5,886 after British Prime Minister Theresa May officially triggered the United Kingdom's separation from the European Union. 


On the upside


Tonix Pharmaceuticals Holdings (Nasdaq: TNXP) will present at The MicroCap Conference on April 4, 2017.


Exar (NYSE: EXAR) will be acquired by MaxLinear (NYSE: MXL) in an all cash transaction valued at approximately $700 million.


Vertex Pharmaceuticals (Nasdaq: VRTX) reported positive results from two Phase 3 studies of the tezacaftor (VX-661)/ivacaftor combination treatment for cystic fibrosis.


On the downside


Investors locked in profits on Diffusion Pharmaceuticals (Nasdaq: DFFN).

 

Ritter Pharmaceuticals (Nasdaq: RTTR) reported upbeat results from a Phase 2b/3 study of its lactose intolerance treatment RP-G28 but the stock price fell.

 

Profit taking weighed down shares of Catalyst Biosciences (Nasdaq: CBIO).


In the broad market, declining issues outpaced advancers by a margin of 5 to 4 on the NYSE and by nearly 9 to 7 on Nasdaq. The broader S&P 500 index eased a fraction to 2,357. Bitcoin gained $8 to $1043.


March consumer confidence jumped to its highest level in 16 years sending the markets soaring to a sharply higher close with the Dow surging 150 points to 20,701. Nasdaq gained 34 points to 5,875. 


On the upside


An online rumor circulated that Diffusion Pharmaceuticals (Nasdaq: DFFN) received a patent.


Bargain hunters lifted shares of Sunshine Heart (Nasdaq: SSH).


Sears Holdings (Nasdaq: SHLD) chief executive Edward Lampert paid approximately $4.2 million to acquire 507,936 shares of company stock.


On the downside


Investors locked in profits on Cellect Biotechnology (Nasdaq: APOP).

 

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

 

HTG Molecular Diagnostics (Nasdaq: HTGM) extended its losses.


In the broad market, advancing issues outpaced decliners by a margin of more than 3 to 1 on the NYSE and by more than 5 to 3 on Nasdaq. The broader S&P 500 index climbed 16 points to 2,358. Bitcoin fell $7 to $1032.


The markets advanced during the midday with the Dow soaring 170 points to 20,721. Nasdaq climbed 43 points to 5,884. 


Tencent Holdings invested $1.78 billion in Tesla for a 5% stake in the electric car maker. The Chinese investment holding company has already taken stakes in electric vehicle startups Nio based in Shanghai and Future Mobility based in Shenzhen. Tesla will use the infusion of cash to prepare for the launch of its Model 3 later this year.


The Office of the Comptroller of the Currency downgraded the Community Reinvestment Act (CRA) rating of Wells Fargo from Outstanding to Needs to Improve. The CRA Performance Evaluation measures how well a bank meets the needs of low and moderate income communities. Wells Fargo is still recovering from a fake accounts scandal that lead to the firing of 5,300 employees.


Ford Motor will invest $1.2 billion to upgrade three facilities in Michigan. The Michigan Assembly Plant will receive $850 million in upgrades and modifications in order to build the Ford Ranger midsize pickup and the Ford Bronco SUV. $150 million will be spent on the Romeo Engine Plant to make engine components. Ford will spend $200 million to build an advanced data center at its Flat Rock assembly plant.


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 index soared 20 points to 2,362. Bitcoin held steady at $1040.


Rising home prices lift markets

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An increase in January home prices lifted the markets to a higher open with the Dow gaining 40 points to 20,591. Nasdaq rose 3 points to 5,844. 


On the upside


The Korean Ministry of Food and Drug Safety approved Catalyst Biosciences' (Nasdaq: CBIO) Investigational New Drug Application for CB 2679d/ISU304.


Akers Biosciences (Nasdaq: AKER) received an initial order for its rapid cholesterol self-test from First Check Diagnostics.


Power Solutions (Nasdaq: PSIX) entered a strategic investment and collaboration agreement with Weichai America.


On the downside


Cryoport (Nasdaq: CRYX) priced its public offering of 5.5 million common shares at the discounted price of $2.00 per share.

 

Investors locked in profits on Regulus Therapeutics (Nasdaq: RGLS).

 

Qatar Investment Authority will sell up to $900 million worth of its holdings in Banco Santander's (NYSE: BSBR) Brazilian unit.


In the broad market, declining issues outpaced advancers by a margin of nearly 10 to 9 on the NYSE and by a margin of 9 to 7 on Nasdaq. The broader S&P 500 index rose 3 points to 2,345. Bitcoin climbed $23 to $1063.


The markets closed mixed with the Dow falling 45 points to 20,550 over uncertainty about the effectiveness of the Trump administration. Nasdaq gained 11 points to 5,840. 


On the upside


Shares of Cancer Genetics (Nasdaq: CGIX) climbed for the fourth day.


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


Ziopharm Oncology (Nasdaq: ZIOP) received positive guidance from the Food and Drug Administration at its End-of-Phase 2 meeting for Ad-RTS-hIL-12 gene therapy candidate.


On the downside


Retreating crude oil prices weighed down shares of oilfield services providers Keane Group (NYSE: FRAC) and ProPetro Holding (NYSE: PUMP).

 

Investors locked in profits on Sierra Wireless (Nasdaq: SWIR).

 

Shares of Westport Fuel Systems (Nasdaq: WPRT) fell ahead of its earnings release after market close.


In the broad market, advancing issues were on par with decliners on the NYSE while advancers edged out decliners by a margin of 5 to 4 on Nasdaq. The broader S&P 500 index slipped 2 points to 2,341. Bitcoin soared $72 to $1029.


Uber grounds autonomous cars

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The markets traded mixed during the midday with the Dow falling 56 points to 20,539 while Nasdaq rose 7 points to 5,836. 


A car crash Friday evening in Arizona prompted Uber to ground all self driving vehicles over the weekend. Developmental operations resumed in San Francisco today but autonomous cars in Arizona and Pittsburgh will continue to sit idle. A self driving Volvo SUV was hit by a car that failed to yield while making a turn.


Samsung will sell refurbished Galaxy Note 7 smartphones and recycle 4 million Note 7 devices. The Korean electronics firm was forced to recall all Galaxy Note 7 phones worldwide last year after numerous reports of overheating and exploding batteries. Samsung will decide where the refurbished devices will be sold after meeting with the appropriate regulatory agencies.


Facebook's Messenger will follow the lead of Google Maps and add a live location sharing feature. Live Location will allow location sharing for one hour. The feature was developed once Messenger learned that a user's location was the most frequent topic of conversation on the app.


In the broad market, declining issues outpaced advancers by a margin of more than 9 to 7 on the NYSE while advancers were on par with decliners on Nasdaq. The broader S&P 500 index lost 4 points to 2,339. Bitcoin leaped $76 to $1033.


Failure of the Republicans to repeal Obamacare last Friday sent the markets tumbling to open sharply lower with the Dow plunging 126 points to 20,470. Nasdaq fell 23 points to 5,804. 


On the upside


Cellect Biotechnology (Nasdaq: APOP) announced the first successful stem cell transplant procedure using its ApoGraft technology in a Phase I/II clinical trial.


Impax Laboratories (Nasdaq: IPXL) named Paul M. Bisaro to the position of president and chief executive officer.


Weatherford International (NYSE: WFT) formed a joint venture with Schlumberger (NYSE: SLB) to develop unconventional resource plays in the United States and Canada land markets.


On the downside


Foamix Pharmaceuticals (Nasdaq: FOMX) reported disappointing results from two Phase 3 clinical trials investigating FMX101 to treat moderate to severe acne.

 

G-III Apparel Group (Nasdaq: GIII) fell to a greater than expected loss for the fourth quarter.

 

Investors locked in profits on Zais Group Holdings (Nasdaq: ZAIS).


In the broad market, declining issues outpaced advancers by a margin of more than 3 to 1 on both the NYSE and on Nasdaq. The broader S&P 500 index fell 12 points to 2,331. Bitcoin soared $65 to $1022.


It was a mixed close for the markets with the Dow falling 59 points to 20,596 after efforts by the House of Representatives to repeal Obamacare failed. Nasdaq rose 11 points to 5,828. 


On the upside


Shares of Cancer Genetics (Nasdaq: CGIX) extended its gains.


Bargain hunters lifted shares of QuickLogic (Nasdaq: QUIK).


Shares of Community Health Systems (NYSE: CYH) rose after the House of Representatives failed to repeal Obamacare.


On the downside


Fourth quarter revenue fell for Neovasc (Nasdaq: NVCN).

 

U.S. Concrete (Nasdaq: USCR) senior vice president and chief financial officer Joseph C. Tusa resigned effective July 1, 2017.

 

Condor Hospitality Trust (Nasdaq: CDOR) priced its public offering of 4.125 million common shares at the discounted price of $10.50 per share.


In the broad market, advancing issues outpaced decliners by a margin of nearly 10 to 9 on the NYSE and by 9 to 7 on Nasdaq. The broader S&P 500 index slipped a point to 2,343. Bitcoin fell $6 to $949.


GameStop to close 150 stores

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The markets traded mixed during the midday with the Dow losing 19 points to 20,637. Nasdaq gained 20 points to 5,838. 


After a disappointing holiday quarter with a 13.6% drop in global sales, GameStop announced plans to close approximately 150 stores. Consumers are choosing mobile games and digital downloads over traditional hardcopy games. The retailer will also open 65 new Technology Brand stores and 35 Collectibles stores in order to diversify.


Diversified holding company Zhonghong Zhuoye Group will acquire Blackstone Group's 21% stake in SeaWorld Entertainment for a premium of approximately $429 million. Blackstone paid approximately $2.3 billion to purchase SeaWorld in 2009. The embattled theme park operator was taken public in 2013 and has seen its revenue drop the last three years.


The National Football League is pursuing a new revenue stream by selling the streaming rights to its Thursday Night Football games. Twitter reportedly paid $10 million last year for the rights to stream ten Thursday night games. Amazon, Facebook, Twitter and YouTube are reportedly all bidding for the rights to stream next season's games on Thursday nights.


In the broad market, advancing issues outpaced decliners by a margin of more than 7 to 5 on both the NYSE and on Nasdaq. The broader S&P 500 index added a point to 2,347. Bitcoin plummeted $47 to $996.


The markets opened higher with the Dow gaining 44 points to 20,701 as the House of Representatives prepared to vote on the repeal of Obamacare. Nasdaq climbed 34 points to 5,851. 


On the upside


HTG Molecular Diagnostics (Nasdaq: HTGM) narrowed losses for the fourth quarter.


Zais Group (Nasdaq: ZAIS) reversed year ago losses to post a profit for the fourth quarter.


Bargain hunters lifted shares of Top Ships (Nasdaq: TOPS).


On the downside


Xenon Pharmaceuticals (Nasdaq: XENE) reported disappointing results from a Phase 2 clinical trial of XEN801 to treat moderate to severe facial acne.

 

The Finish Line (Nasdaq: FINL) fell to a greater than expected loss for the fourth quarter.

 

Fourth quarter earnings fell for GameStop (NYSE: GME) as revenue dropped.


In the broad market, advancing issues outpaced decliners by a margin of nearly 3 to 1 on the NYSE and by more than 3 to 1 on Nasdaq. The broader S&P 500 index gained 6 points to 2,352. Bitcoin plunged $51 to $992.


The markets retreated in late afternoon trading to close flat with the Dow slipping 4 points to 20,656 after the House of Representatives delayed its vote on a Republican bill to repeal Obamacare. Nasdaq edged down 3 points to 5,817. 


On the upside


Rumors swirled that Sanofi (NYSE: SNY) offered to acquire Flexion Therapeutics (Nasdaq: FLXN).


LSC Communications (NYSE: LKSD) priced its secondary offering of approximately 6.24 million common shares at $20.25 per share.


Penn National Gaming (Nasdaq: PENN) lifted its first quarter revenue forecast.


On the downside


Investors locked in profits on Moleculin Biotech (Nasdaq: MBRX).

 

Heat Biologics (Nasdaq: HTBX) priced its public offering of 5 million common shares at the discounted price of $0.80 per share.

 

Orion Engineered Carbons (NYSE: OEC) priced its secondary offering of 5 million common shares at the discounted price of $18.75 per share.


In the broad market, advancing issues outpaced decliners by a margin of nearly 2 to 1 on the NYSE and by more than 5 to 3 on Nasdaq. The broader S&P 500 index slipped 2 points to 2,345. Bitcoin gained $15 to $1,052.


17,000 AT&T workers on strike

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The markets rebounded during the midday with the Dow climbing 71 points to 20,732. Nasdaq gained 15 points to 5,837. 


Approximately 17,000 AT&T workers represented by the Communications Workers of America union are on strike in California and Nevada. The employees are protesting a change to some job duties without union agreement. Landline technicians who install cable are now being asked to perform other jobs that are higher paid.


Johnson & Johnson has joined a growing list of advertisers who have suspended their digital advertising campaigns on YouTube. Companies do not want their ads to be displayed with YouTube videos that promote anti-Semitic, anti-LGBTQ or other offensive content. YouTube owner Google announced advertising and hate speech policy changes yesterday to combat offensive and derogatory content.


Ford Motor warned of a sharp 50% plunge in profits for the current quarter due to global pressures. The automaker's struggling European Operations finally posted a profit in 2016 after recording billion in losses over the last few years but will now be negatively impacted by Brexit. The Asia-Pacific region is also expected to decline.


In the broad market, advancing issues outpaced decliners by a margin of nearly 4 to 1 on the NYSE and by nearly 3 to 1 on Nasdaq. The broader S&P 500 index gained 7 points to 2,356. Bitcoin climbed $22 to $1,059.


An unexpected increase in first time applications for unemployment benefits weighed the markets down to a lower open with the Dow slipping 9 points to 20,651. Nasdaq lost 11 points to 5,810. 


On the upside


HTG Molecular Diagnostics (Nasdaq: HTGM) obtained CE marking in the European Union for its HTG EdgeSeq ALKPlus Assay EU.


Sunshine Heart (Nasdaq: SSH) provided an update on its Aquadex revenue growth strategy.


Cancer Genetics (Nasdaq: CGIX) narrowed fourth quarter losses as revenue soared.


On the downside


Shares of Cerulean Pharma (Nasdaq: CERU) extended its losses.

 

Tandem Diabetes Care (Nasdaq: TNDM) priced its public offering of 18 million common shares at the discounted price of $1.25 per share.

 

QuickLogic (Nasdaq: QUIK) priced its public offering of 10 million common shares at the discounted price of $1.50 per share.


In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 3 on the NYSE and by 7 to 5 on Nasdaq. The broader S&P 500 index held steady at 2,348. Bitcoin climbed $23 to $1,060.


The markets closed mixed with the Dow slipping 6 points to 20,661 as sales of existing homes fell by a more than expected 3.7% in February. Nasdaq gained 27 points to 5,821. 


On the upside


JMP Securities analyst Michael King initiated coverage of Idera Pharmaceuticals (Nasdaq: IDRA) with a Market Outperform rating and a price target of $8.


Acacia Communications (Nasdaq: ACIA) is demonstrating a subset of its coherent product portfolio at the Optical Fiber Communication Conference and Exhibition this week.


Applied Optoelectronics (Nasdaq: AAOI) is introducing a new 200 Gbps product family as well as showcasing its product portfolio at the Optical Fiber Communication Conference and Exhibition this week.


On the downside


Goldman Sachs downgraded Frontier Communications (Nasdaq: FTR) from a Neutral rating to a Sell rating.

 

Nike (NYSE: NKE) disappointed with third quarter revenue that fell short of expectations.

 

Shares of Tandem Diabetes Care (Nasdaq: TNDM) fell for the third day in a row.


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 more than 9 to 7 on Nasdaq. The broader S&P 500 index added 4 points to 2,348. Bitcoin plummeted $88 to $1,033.


Settlement cycle shortened

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The markets traded mixed during the midday with the Dow falling 33 points to 20,634 while Nasdaq gained 12 points to 5,805. 


The Securities and Exchange Commission has shortened the time between when a trade order is executed and when investor funds are exchanged for ownership of the security. The settlement time has been three business days since 1993. With today's unanimous vote, stock and bond trades will now be settled in two business days.


Airbnb plans to expand its services and offerings in China in order to reach the growing middle class in the world's most populous nation. The travel and tourism industry in China is forecast to grow by 7% every year over the next decade. While Airbnb previously marketed to Chinese travelers who were taking trips outside of their country, the hospitality service will now focus on travel within China.


Google will now allow users to share their location using Google Maps. Location sharing technology has been around for years but privacy concerns have prevented the feature from being made available more broadly. Users will be reminded to share their locations only with people whom they trust.


In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 4 on the NYSE and by nearly 5 to 3 on Nasdaq. The broader S&P 500 index added a point to 2,345. Bitcoin tumbled $75 to $1,046.


The markets opened mixed with the Dow losing 23 points to 20,644 over concerns about economic growth prospects. Nasdaq rose 9 points to 5,803.


On the upside


The Food and Drug Administration granted Orphan Drug Designation to Moleculin Biotech's (Nasdaq: MBRX) acute myeloid leukemia treatment Annamycin.


Drexel Hamilton analyst Brian White initiated coverage of Snap (NYSE: SNAP) with a Buy rating and a $30 price target.


Duluth Holdings (Nasdaq: DLTH) reported better than expected earnings for the fourth quarter.


On the downside


Sears Holdings (Nasdaq: SHLD) warned that it had substantial doubt about its ability to continue operations.

 

Diana Containerships (Nasdaq: DCIX) entered into a Securities Purchase Agreement with Kalani Investments.

 

Regenxbio (Nasdaq: RGNX) priced its secondary offering of 3.7 million common shares at the discounted price of $20.50 per share.


In the broad market, declining issues outpaced advancers by a margin of more than 2 to 1 on both the NYSE and on Nasdaq. The broader S&P 500 index eased a fraction to 2,343. Bitcoin plunged $93 to $1,029.


The markets plunged to close sharply lower with the Dow collapsing 237 points to 20,668 as confidence in President Donald Trump's economic plans faltered. Nasdaq plummeted 107 points to 5,793.


On the upside


Shares of Hornbeck Offshore Services (NYSE: HOS) continued to rise.


xG Technology (Nasdaq: XGTI) stock rose ahead of its investor update after market close.


OraSure Technologies (Nasdaq: OSUR) will replace G&K Services (Nasdaq: GK) in the S&P SmallCap 600 before market open on Thursday, March 23.


On the downside


Bebe Stores (Nasdaq: BEBE) will close all of its brick and mortar stores to focus on its online business.

 

Calithera Biosciences (Nasdaq: CALA) will sell 4.5 million common shares through a public offering.

 

Shares of Aevi Genomic Medicine (Nasdaq: GNMX) extended its losses.


In the broad market, declining issues outpaced advancers by a margin of nearly 4 to 1 on the NYSE and by more than 5 to 1 on Nasdaq. The broader S&P 500 index plunged 29 points to 2,344. Bitcoin soared $58 to $1,112.


The markets extended its losses during the midday with the Dow plunging 168 points to 20,737. Nasdaq plummeted 73 points to 5,827.


Apple introduced new versions of its popular iPad and iPhone. A special edition red iPhone 7 and 7 Plus launches on Friday to commemorate the 10-year partnership between Apple and Red, a nonprofit which raises awareness and funds to combat AIDS. Also available on Friday will be a lower priced iPad with a 9.7 inch screen, 8 megapixel camera and up to 10 hours of battery life.


Samsung's new Galaxy S8 that hits stores next Wednesday will come equipped with digital assistant Bixby. Bixby supported apps can be launched via voice commands, which is an improvement over Apple's Siri and Microsoft's Cortana. Samsung will integrate the Bixby AI into smart TVs and other devices.


Marriott International announced plans to increase the number of rooms available globally by 300,000 by 2019. The room additions are necessary to accommodate a projected 7% annual increase in travel worldwide over the next 10 years. The hotel chain anticipates generating an additional $675 million in fees from the new rooms.


In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 2 on the NYSE and by more than 4 to 1 on Nasdaq. The broader S&P 500 index tumbled 20 points to 2,352. Bitcoin leaped $59 to $1,113.


The markets opened lower with the Dow falling 51 points to 20,854 as Secretary of State Rex Tillerson announced plans to travel to Russia next month amidst investigations into collusion between Russia and President Donald Trump's election campaign. Nasdaq lost 15 points to 5,886.


On the upside


Shares of Esperion Therapeutics (Nasdaq: ESPR) extended its gains.


The European Union granted Pulmatrix (Nasdaq: PULM) a patent for its inhaled drug delivery technology iSPERSE.


Deutsche Bank (NYSE: DB) opened an innovation lab in New York City.


On the downside


Top Ships (Nasdaq: TOPS) stock fell for the third day.

 

Canadian Solar (Nasdaq: CSIQ) fell to a loss for the fourth quarter.

 

Cheetah Mobile (Nasdaq: CMCM) chief financial officer Ka Wai Andy Yeung has resigned.


In the broad market, declining issues outpaced advancers by a margin of more than 7 to 5 on the NYSE and by more than 5 to 3 on Nasdaq. The broader S&P 500 index lost 7 points to 2,365. Bitcoin soared $41 to $1,096.


The markets closed flat with the Dow slipping 8 points to 20,905 after FBI director James Comey testified that there was no evidence to support President Donald Trump's claim that his campaign offices were wiretapped by former President Barack Obama. Nasdaq held steady at 5,901.


On the upside


Aurinia Pharmaceuticals (Nasdaq: AUPH) closed its public offering of approximately 25.6 million common shares.


Dominion Diamond (NYSE: DDC) has rejected the conditions imposed by Washington Cos. to hold acquisition discussions.


CytomX Therapeutics (Nasdaq: CTMX) expanded its collaboration agreement with Bristol-Myers Squibb and will receive a $200 million upfront payment to develop cancer treatments using CytomX's Probody platform.


On the downside


Shares of Top Ships (Nasdaq: TOPS) extended its losses.

 

Profit taking weighed down shares of Pulmatrix (Nasdaq: PULM).

 

QuickLogic (Nasdaq: QUIK) announced a public offering of $15 million in common shares.


In the broad market, declining issues outpaced advancers by a margin of 7 to 5 on the NYSE and by nearly 5 to 3 on Nasdaq. The broader S&P 500 index lost 4 points to 2,373. Bitcoin slipped $1 to $1,045.


Snap receives first Buy rating

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The markets reversed course to trade lower during the midday with the Dow falling 22 points to 20,892. Nasdaq lost 10 points to 5,890.


Snapchat parent company Snap received its first Buy rating from an analyst today. Crespi, Hardt & Co. analyst James Cakmak initiated coverage of the messaging site with a Buy rating saying that the company's revenue growth would outpace its peers by 7x. Currently, five analysts have a Sell rating on Snap while four are Neutral.


Wells Fargo reported a sharp 43% drop in new checking accounts in February compared with a year ago. Similarly, customers opened 55% fewer credit card accounts when compared with last year. New accounts have been dropping every month for six months straight after the Consumer Financial Protection Bureau accused Wells Fargo of opening more than 2 million fake accounts in September 2016.


Jeff Jones abruptly quit his position as Uber president after a brief six months on the job. Uber recruited Jones from his position as Target's chief marketing officer to lead marketing and operations for the ride hailing service. Jones is the third Uber executive to leave in as many weeks.


In the broad market, declining issues outpaced advancers by a margin of more than 5 to 3 on the NYSE and by nearly 7 to 5 on Nasdaq. The broader S&P 500 index fell 7 points to 2,370. Bitcoin gained $7 to $1,053.


The markets opened higher with the Dow gaining 29 points to 20,944 even as Congress holds hearings on President Trump's wiretapping claims. Nasdaq rose 13 points to 5,914.


On the upside


The Food and Drug Administration confirmed that Esperion Therapeutics' (Nasdaq: ESPR) LDL-C lowering program was adequate to support approval of an LDL-C lowering indication for bempedoic acid.


Nektar Therapeutics (Nasdaq: NKTR) reported positive results from the SUMMIT-07 Phase 3 efficacy study of NKTR-181.


Bank of America/Merrill Lynch upgraded FireEye (Nasdaq: FEYE) from a Neutral rating to a Buy rating.


On the downside


Cerulean Pharma (Nasdaq: CERU) will eliminate 11 employees, sell some of its assets and enter a stock purchase agreement with Dare Biosciences.

 

DryShips (Nasdaq: DRYS) completed its $200 million common stock offering.

 

Aevi Genomic Medicine (Nasdaq: GNMX) reported disappointing results from the SAGA trial of AEVI-001 to treat adolescents with mGluR mutation positive ADHD.


In the broad market, declining issues outpaced advancers by a margin of more than 5 to 3 on the NYSE and by nearly 5 to 3 on Nasdaq. The broader S&P 500 index added a point to 2,379. Bitcoin gained $7 to $1,053.


The markets closed lower with the Dow losing 19 points to 20,914 despite an increase in March consumer sentiment. Nasdaq edged up a fraction to 5,901.


On the upside


Shares of MuleSoft (NYSE: MULE) surged in its market debut.


Viveve Medical (Nasdaq: VIVE) priced its public offering of 7.5 million common shares at $4.00 per share.


AveXis (Nasdaq: AVXS) reported positive results from a Phase 1 trial of AVXS-101 in spinal muscular atrophy Type 1.


On the downside


Profit taking weighed down shares of Innocoll Holdings (Nasdaq: INNL).

 

AmTrust Financial Services (Nasdaq: AFSI) delayed filing its annual report due to errors in previous financial statements dating back to 2014.

 

An electrical fire shut down AXT's (Nasdaq: AXTI) Beijing manufacturing facility.


In the broad market, advancing issues outpaced decliners by a margin of nearly 3 to 2 on the NYSE and by 7 to 5 on Nasdaq. The broader S&P 500 index slipped 3 points to 2,378. Bitcoin fell $6 to $1,110.


J.C. Penney closes 138 stores

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The markets edged up during the midday with the Dow adding 2 points to 20,936. Nasdaq rose 5 points to 5,906.


As part of its plans to reduce its footprint, J.C. Penney will close 138 stores nationwide. Liquidation sales will begin on April 17 with stores expected to shutter their doors in June. Approximately 5,000 jobs will be eliminated but the department store said that some workers will be offered opportunities to transfer.


Alexa will become available on Amazon's iPhone app next week. Users can launch the voice assistant by tapping on the microphone icon within the Amazon app. Alexa will be fully functional with the ability to control smart home products, make online purchases and provide information about the weather, sports and news.


The European Commission said that Facebook, Google, Twitter and other social media companies must amend their terms of service for European users in order to comply with European Union consumer rules. The technology companies have been under fire for their service terms, privacy policies, and how they respond to illegal or threatening online posts. Fines will be imposed for noncompliance.


In the broad market, advancing issues outpaced decliners by a margin of nearly 3 to 2 on the NYSE and by more than 10 to 9 on Nasdaq. The broader S&P 500 index held steady at 2,381. Bitcoin tumbled $18 to $1,156.


Flat open as G20 meet

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The markets opened flat with the Dow adding 3 points to 20,937 as finance and economic ministers from the Group of 20 industrial nations met in Germany. Nasdaq slipped 4 points to 5,896.


On the upside


Bargain hunters lifted shares of Pulmatrix (Nasdaq: PULM).


Caladrius Biosciences (Nasdaq: CLBS) narrowed losses for the fourth quarter as revenue climbed.


Arbutus Biopharma (Nasdaq: ABUS) licensed its proprietary lipid nanoparticle technology to Alexion Pharmaceuticals (Nasdaq: ALXN) for exclusive use in one of Alexion's rare disease programs.


On the downside


Shares of The Medicines Company (Nasdaq: MDCO) plunged ahead of its webcast presentation of data from an ORION-1 Phase II study of inclisiran.

 

Zosano Pharma (Nasdaq: ZSAN) priced its public offering of 17 million shares of common stock at the discounted price of $1.50 per share.

 

Esperion Therapeutics (Nasdaq: ESPR) stock plunged after rival Amgen (Nasdaq: AMGN) reported disappointing results for its cholesterol drug Repatha.


In the broad market, advancing issues outpaced decliners by a margin of more than 9 to 7 on the NYSE and by nearly 10 to 9 on Nasdaq. The broader S&P 500 index eased a fraction to 2,380. Bitcoin tumbled $16 to $1,157.


The markets closed lower with the Dow losing 15 points to 20,934 as investors locked in profits from yesterday's rally. Nasdaq held steady at 5,900.


On the upside


Shares of Canada Goose Holdings (NYSE: GOOS) soared in its market debut.


Innocoll Holdings (Nasdaq: INNL) confirmed that the company was engaged in discussions for a potential sale of the company.


Seres Therapeutics (NYSE: MCRB) will initiate a new SER-109 clinical study in patients with multiply recurrent Clostridium difficile infection.


On the downside


TrovaGene (Nasdaq: TROV) widened fourth quarter losses more than expected.

 

Arotech (Nasdaq: ARTX) fell to a loss for the fourth quarter.

 

PTC Therapeutics (Nasdaq: PTCT) will pay approximately $75 million in cash and $65 million in stock to purchase Marathon Pharmaceuticals' Duchenne muscular dystrophy treatment Emflaza.


In the broad market, advancing issues outpaced decliners by a margin of nearly 9 to 7 on the NYSE and by more than 7 to 5 on Nasdaq. The broader S&P 500 index lost 3 points to 2,381. Bitcoin tumbled $21 to $1,220.


The markets traded flat during the midday with the Dow slipping 6 points to 20,943. Nasdaq added a point to 5,901.


Netflix hired former Universal Studios vice chairman of worldwide production Scott Stuber to head its film division. Stuber will be in charge of production and acquisition, future development and streaming. Netflix is expanding its film offerings by producing original works and acquiring titles. The streaming service will release Bright starring Will Smith later this year.


Tesla will raise approximately $1.15 billion through the sale of common shares and convertible senior notes. The funds will be used to support the production and sale of its entry level Model 3 electric sedan. Tesla chief executive Elon Musk plans to buy $25 million worth of company stock.


3M will acquire the safety gear business of Johnson Controls International in a deal valued at approximately $2 billion. Scott Safety, which makes safety products for firefighters, police officers, industrial workers and military personnel, reported revenue of $570 million in 2016. There are 1,500 people working for Scott Safety around the world.


In the broad market, advancing issues outpaced decliners by a margin of more than 10 to 9 on the NYSE and by more than 7 to 5 on Nasdaq. The broader S&P 500 index slipped 2 points to 2,382. Bitcoin tumbled $24 to $1,218.


The markets opened flat with the Dow easing a point to 20,948 despite a drop in jobless claims as investors mull the impact of the rate increase. Nasdaq held steady at 5,900.


On the upside


GoPro (Nasdaq: GPRO) will eliminate approximately 270 jobs in order to cut expenses and expects first quarter revenue to be near the high end of its guidance.


Top Ships (Nasdaq: TOPS) narrowed losses for fiscal 2016 significantly as revenue more than doubled.


Bargain hunters lifted shares of Adeptus Health (NYSE: ADPT).


On the downside


Guess? (NYSE: GES) reported sharply lower fourth quarter earnings that missed expectations.

 

Interpid Potash (NYSE: IPI) priced its public offering of more than 43.5 million common shares.

 

First quarter earnings for Pantheon (NYSE: PTHN) fell short of expectations and the company lowered its full year forecast.


In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 4 on the NYSE and by more than 5 to 3 on Nasdaq. The broader S&P 500 index eased a point to 2,383. Bitcoin tumbled $21 to $1,220.


The Federal Reserve lifted interest rates by a quarter percentage point sending the markets soaring to a sharply higher close with the Dow surging 112 points to 20,950. Nasdaq climbed 43 points to 5,900.


On the upside


Shares of Ardagh Group (NYSE: ARD) surged in its market debut.


IAMGOLD (NYSE: IAG) signed an option agreement to earn an interest in Miranda Gold's Antares Project in Colombia.


Everi Holdings (NYSE: EVRI) reported a loss for the fourth quarter but revenue rose.


On the downside


FTD (Nasdaq: FTD) widened losses for the fourth quarter as revenue fell.

 

Achaogen (Nasdaq: AKAO) widened fourth quarter losses more than expected.

 

Titan International (NYSE: TWI) reported a wider than expected loss for the fourth quarter.


In the broad market, advancing issues outpaced decliners by a margin of nearly 7 to 1 on the NYSE and by more than 2 to 1 on Nasdaq. The broader S&P 500 index soared 19 points to 2,385. Bitcoin gained $4 to $1,241.


The markets extended its gains during the midday with the Dow climbing 71 points to 20,908. Nasdaq gained 20 points to 5,877.


The European Commission has approved the proposed $85.4 billion merger between AT&T and Time Warner. The companies are still awaiting approval from the U.S. Department of Justice. AT&T anticipates closing the deal by the end of 2017. 


Plaintiffs in a private class action lawsuit filed over the bankruptcy of subprime lender NovaStar Mortgage have finally reached an agreement with the financial institutions who were accused of misleading investors. Deutsche Bank, Royal Bank of Scotland and Wells Fargo have agreed to pay $165 million to settle the suit led by New Jersey Carpenters Health Fund. The defendants have denied doing anything wrong.


General Motors expects to rehire 500 workers at their Lansing Delta Township assembly plant in Michigan in 2018. A total of 1,100 employees will be laid off in May 2017 as the automaker moves production of its GMC Acadia mid-size SUV to a facility in Spring Hill, Tennessee. About half of the workers will be rehired when new models of the Chevrolet Traverse and Buick Enclave SUVs begin full production next year.


In the broad market, advancing issues outpaced decliners by a margin of more than 3 to 1 on the NYSE and by nearly 7 to 3 on Nasdaq. The broader S&P 500 index climbed 10 points to 2,376. Bitcoin rose $2 to $1,238.


Higher open as crude oil rises

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Rising crude oil prices lifted the markets to a higher open with the Dow gaining 36 points to 20,874. Nasdaq added 3 points to 5,860.


On the upside


Arena Pharmaceuticals (Nasdaq: ARNA) reversed year ago losses to post a stronger than expected profit for the fourth quarter.


Catalyst Pharmaceuticals (Nasdaq: CPRX) reported positive results from the investigator-sponsored trial of Firdapse to treat myasthenia gravis patients with anit-MuSK antibodies.


MSCI (NYSE: MSCI) rejected an acquisition offer from S&P Global saying that the bid was too low.


On the downside


Rubicon Project (NYSE: RUBI) fell to a loss for the fourth quarter.

 

NeoPhotonics (Nasdaq: NPTN) forecast first quarter results that fell short of analyst expectations.

 

Profit taking weighed down shares of Navios Maritime Partners (NYSE: NMM).


In the broad market, advancing issues outpaced decliners by a margin of nearly 7 to 2 on the NYSE and by nearly 2 to 1 on Nasdaq. The broader S&P 500 index gained 5 points to 2,370. Bitcoin rose $2 to $1,239.


The markets closed lower with the Dow falling 44 points to 20,837 in anticipation of an interest rate increase tomorrow. Nasdaq lost 18 points to 5,856.


On the upside


Neovasc (Nasdaq: NVCN) will release fourth quarter and full year earnings after market close on Thursday, March 23, 2017.


Bargain hunters lifted shares of Naked Brand Group (Nasdaq: NAKD).


TG Therapeutics (Nasdaq: TGTX) will present at the 29th Annual ROTH Conference.


On the downside


Aralez Pharmaceuticals (Nasdq: ARLZ) widened losses for the fourth quarter.

 

Lantheus Holdings (Nasdaq: LNTH) announced a secondary offering of 3 million common shares.

 

Amphastar Pharmaceuticals (Nasdaq: AMPH) fell to a loss for the fourth quarter.


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 index fell 8 points to 2,365. Bitcoin rose $3 to $1,236


Snap's 2017 revenue forecast cut

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The markets traded lower during the midday with the Dow falling 37 points to 20,844. Nasdaq lost 19 points to 5,856.


eMarketer cut its 2017 revenue forecast for Snapchat by $30 million to $770 million. The digital marketing firm said that Snapchat was sharing more revenue with its partners than expected. Overall spending on digital marketing is expected to soar to $83 billion this year. 


Embattled German automaker Volkswagen Group has indicated that it would be open to discussions with Fiat Chrysler Automobiles for a potential merger. Fiat Chrysler had approached General Motors in 2015 to consider consolidating the two companies but was rejected by the American automaker. Fiat Chrysler has made no comment on a possible deal with Volkswagen.


Luxury retailer Neiman Marcus Group is exploring and evaluating strategic options as it struggles with falling revenue. The company has already made some changes to its corporate structure to enhance its financial flexibility. Hudson Bay, which had been exploring a potential merger with Macy's, has reportedly shifted its focus to Neiman Marcus.


In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 3 on the NYSE and by more than 2 to 1 on Nasdaq. The broader S&P 500 index fell 8 points to 2,365. Bitcoin added $1 to $1,235.


The Federal Reserve is expected to announce an interest rate increase after its two day meeting that begins today. The markets opened lower with the Dow dropping 72 points to 20,808. Nasdaq tumbled 41 points to 5,834.


On the upside


Euronet Worldwide (Nasdaq: EEFT) offered a premium of $15.20 per share in cash to acquire MoneyGram International (Nasdaq: MGI) topping the $13.25 per share bid from Ant Financial.


DragonWave (Nasdaq: DRWI) entered a new distribution partnership with Ingram Micro Australia.


Ruby Tuesday (NYSE: RT) retained the services of UBS to explore strategic options including a potential sale of the company.


On the downside


Investors locked in profits on Aurinia Pharmaceuticals (Nasdq: AUPH).

 

Walter Investment (NYSE: WAC) reported a loss for the fourth quarter.

 

Aratana Therapeutics (Nasdaq: PETX) widened losses for the fourth quarter.


In the broad market, declining issues outpaced advancers by a margin of more than 4 to 1 on the NYSE and by nearly 5 to 1 on Nasdaq. The broader S&P 500 index dropped 12 points to 2,360. Bitcoin climbed $12 to $1,243.


Mixed close as crude oil slips

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It was a mixed close for the markets with the Dow retreating 21 points to 20,881 as crude oil prices slipped.  Nasdaq gained 14 points to 5,875.


On the upside


Shares of Cerulean Pharma (Nasdaq: CERU) surged on no news.


Aurinia Pharmaceuticals (Nasdaq: AUPH) announced a public offering of common stock.


Calithera Biosciences (Nasdaq: CALA) will report fourth quarter and full year results on Thursday, March 16, 2017.


On the downside


Blackstone (NYSE: BX) will sell 49% of its holdings in NCR (NYSE: NCR) back to NCR. NCR also cut its full year and first quarter earnings outlook.

 

Osiris Therapeutics (Nasdaq: OSIR) received a delisting notice from the NASDAQ Stock Market and announced that trading on the common stock will be suspended at market open on Tuesday, March 14, 2017.

 

ParkerVision (Nasdaq: PRKR) will file a motion to terminate its ITC investigation.


In the broad market, advancing issues outpaced decliners by a margin of nearly 3 to 2 on the NYSE and by nearly 5 to 3 on Nasdaq. The broader S&P 500 index edged up a fraction to 2,373. Bitcoin climbed $17 to $1,233.


Pandora to debut Pandora Premium

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The markets traded mixed during the midday with the Dow falling 33 points to 20,869. Nasdaq gained 7 points to 5,869.


Pandora will begin offering a new Pandora Premium service for on-demand song streaming. The new service will cost $9.99 per month and will be available to select users beginning on Wednesday. Pandora currently offers a free service with ads or Pandora Plus for $4.99 per month without ads along with the ability to skip songs.


Ford Motor plans to expand its footprint in China by designing a luxury Lincoln SUV specific to the Chinese market that will be available in 2019. An existing factory in China will produce the vehicles. Ford expects to open 80 new stores in China to sell Lincoln vehicles by the end of the year.


Volkswagen will recall approximately 43,000 vehicles in Russia due to possible damage to the pressure accumulator from high pressure in the hydraulic system. The vehicles covered by the recall are the Skoda Octavia, Superb, Fabia, Yeti and Rapid that were sold between 2012 and 2016. Volkswagen will correct the problem with a software upgrade.


In the broad market, advancing issues outpaced decliners 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 index eased a point to 2,370. Bitcoin gained $15 to $1,232.


Mixed open ahead of Fed meeting

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The markets opened mixed with the Dow losing 41 points to 20,861 while Nasdaq rose 8 points to 5,870 ahead of the Federal Reserve meeting tomorrow.


On the upside


Mobileye (NYSE: MBLY) will be acquired by Intel (Nasdaq: INTC) for a premium of approximately $15.3 billion.


Fate Therapeutics (Nasdaq: FATE) received clearance from the Food and Drug Administration for its investigational new drug application for FATE-NK100.


Verastem (Nasdaq: VSTM) will present at the 29th Annual ROTH Conference today.


On the downside


Catabasis Pharmaceuticals (Nasdaq: CATB) will present data from Part B of the MoveDMD trial of edasalonexent to treat Duchenne muscular dystrophy at the 2017 Muscular Dystrophy Association Scientific Conference next week.

 

Aralez Pharmaceutical (Nasdaq: ARLZ) widened losses for the fourth quarter.

 

Investors locked in profits on Cerecor (Nasdaq: CERC).


In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 3 on the NYSE and by more than 7 to 5 on Nasdaq. The broader S&P 500 index eased a fraction to 2,371. Bitcoin gained $13 to $1,230.


Strong jobs growth in February lifted the markets to a higher close with the Dow gaining 44 points to 20,902. Nasdaq climbed 22 points to 5,861.


On the upside


Sears Holdings (Nasdaq: SHLD) completed the sale of its Craftsman Brand to Stanley Black & Decker for more than $900 million.


Cheetah Mobile (NYSE: CMCM) rebranded its ad business in India as Cheetah Ads.


Internap (Nasdaq: INAP) reported better than expected revenue for the fourth quarter.


On the downside


Investors locked in profits on Ocera Therapeutics (Nasdaq: OCRX).

 

Zumiez (Nasdaq: ZUMZ) reported higher fourth quarter earnings and revenue but the  skateboard apparel retailer warned of greater than expected losses for the current quarter.

 

NII Holdings (Nasdaq: NIHD) reported a loss for the fourth quarter.


In the broad market, advancing issues outpaced decliners by a margin of more than 2 to 1 on the NYSE and by 7 to 5 on Nasdaq. The broader S&P 500 index gained 7 points to 2,372. Bitcoin slipped $4 to $1,082.


NLRB rules against Hyundai

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The markets traded higher during the midday with the Dow rising 19 points to 20,877. Nasdaq gained 17 points to 5,855.


The National Labor Relations Board ruled that Hyundai Motor Manufacturing Alabama violated the rights of three paint shop employees last year by firing them. The workers walked off their jobs before the end of their shift. A supervisor had announced that the work schedule had changed but the posted schedule had not been updated.


Facebook partnered with Major League Soccer and Univision to begin live streaming soccer games on the Univision Desportes' Facebook page. The first game to be streamed will be on Saturday, March 18 and will only be available in the U.S. The games will be interactive with polls and questions for fan participation.


Southwest Airlines warned that first quarter operating unit revenue would fall more than expected to between 2%-3%. The nation's fourth largest airline by passenger traffic cited weakness in last-minute flight bookings in February for the shortfall. The company originally forecast flat to a 1% decline in operating unit revenue.


In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 4 on the NYSE and by more than 7 to 5 on Nasdaq. The broader S&P 500 index gained 5 points to 2,370. Bitcoin leaped $58 to $1,239.


Upbeat jobs data boosts markets

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Upbeat jobs data boosted the markets to a higher open with the Dow gaining 67 points to 20,925. Nasdaq climbed 31 points to 5,870.


On the upside


Shares of Aurinia Pharmaceuticals (Nasdaq: AUPH) climbed for the sixth day.


Canaccord affirmed its Buy rating on Advanced Micro Devices (Nasdaq: AMD) and lifted its price target from $13 to $17.


Shares of Catabasis Pharmaceuticals (Nasdaq: CATB) surged on no news.


On the downside


Finisar (Nasdaq: FNSR) disappointed with third quarter earnings and revenue that fell short of analyst expectations and forecast current quarter results below estimates.


Ocera Therapeutics (Nasdaq: OCRX) reported a loss for the fourth quarter. 

 

MeetMe (Nasdaq: MEET) priced its public offering of 8 million common shares at the discounted price of $5.00 per share.


In the broad market, advancing issues outpaced decliners by a margin of nearly 7 to 2 on the NYSE and by more than 5 to 2 on Nasdaq. The broader S&P 500 index climbed 10 points to 2,375. Bitcoin soared $40 to $1,220.


The markets closed flat with the Dow adding 2 points to 20,858 as crude oil prices slipped below $50 per barrel. Nasdaq edged up a point to 5,838.


On the upside


A judge has placed a licensing deal between Immunomedics (Nasdaq: IMMU) and Seattle Genetics (Nasdaq: SGEN) on hold due to an investor lawsuit.


TG Therapeutics (Nasdaq: TGTX) priced its public offering of more than 5 million shares of common stock at $9.75 per share.


Second quarter earnings surged for Comtech Telecommunications (Nasdaq: CMTL) as revenue nearly doubled.


On the downside


21Vianet Group (Nasdaq: VNET) widened fourth quarter losses significantly.


International Game Technology (NYSE: IGT) reported a net debt of approximately $7.57 billion in 2016. 

 

Horizon Global (NYSE: HZN) widened fourth quarter losses more than expected.


In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 2 on the NYSE and by 7 to 5 on Nasdaq. The broader S&P 500 index added a point to 2,364. Bitcoin climbed $35 to $1,189.


The markets traded flat during the midday with the Dow adding 2 points to 20,858. Nasdaq rose 6 points to 5,844.


Facebook Messenger introduced Messenger Day which allows users to add photos and videos to their day. Users can share their day with all their contacts or a select group of friends. Friends can then view and comment on the content which will disappear after 24 hours, much like Snapchat's Stories feature.


For the second time in as many years, RadioShack has filed for bankruptcy. The electronics retailer first filed for bankruptcy protection in March 2015. After closing approximately 2,400 stores, the company was sold to General Wireless. General Wireless filed for Chapter 11 bankruptcy yesterday and announced plans to close nearly 200 stores.


In preparation for regulatory clearance for the proposed $65 billion merger between Bayer and Monsanto, the two companies plan to sell approximately $2.5 billion in assets through an auction. No specific lines of business have been identified for the sale. Information packets about the assets will be sent to prospective bidders next week.


In the broad market, declining issues outpaced advancers by a margin of more than 5 to 3 on the NYSE while advancers edged out decliners by nearly 5 to 4 on Nasdaq. The broader S&P 500 index added 2 points to 2,365. Bitcoin climbed $34 to $1,188.


The markets opened higher with the Dow gaining 34 points to 20,890 as import prices edged up 0.2% in February. Nasdaq rose 9 points to 5,847.


On the upside


Ocera Therapeutics (Nasdaq: OCRX) will report additional upbeat data from its Phase 2b STOP-HE study of intravenous OCR-002 in patients with Hepatic Encephalopathy at the Cowen and Co. 37th Annual Healthcare Conference today.


e.l.f. Beauty (NYSE: ELF) reversed year ago losses to post a stronger than expected profit for the fourth quarter.


Vivus (Nasdaq: VVUS) swung to a profit for the fourth quarter.


On the downside


Tailored Brands (NYSE: TLRD) reported a wider than expected loss for the fourth quarter.


Fairmount Santrol Holdings (NYSE: FMSA) reported a greater than expected loss for the fourth quarter. 

 

Fourth quarter losses were wider than expected for Plug Power (Nasdaq: PLUG).


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 3 on Nasdaq. The broader S&P 500 index rose 5 points to 2,368. Bitcoin gained $21 to $1,175.


A disappointing labor productivity report weighed the markets down to a lower close with the Dow dropping 69 points to 20,855. Nasdaq added 3 points to 5,837.


On the upside


Novo Nordisk reportedly made an offer to acquire Global Blood Therapeutics (Nasdaq: GBT).


Bargain hunters lifted shares of DryShips (Nasdaq: DRYS).


Shares of MYOS RENS Technology (Nasdaq: MYOS) rose on bargain hunting.


On the downside


Shares of Tellurian (Nasdaq: TELL) extended its losses by falling for the seventh day.


Team (NYSE: TEAM) fell to a loss for the fourth quarter. 

 

Natera (Nasdaq: NTRA) widened losses for the fourth quarter.


In the broad market, declining issues outpaced advancers 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 index fell 5 points to 2,362. Bitcoin plunged $69 to $1,157.


Craftsman recalls table saw

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The markets traded mixed during the midday with the Dow falling 47 points to 20,876. Nasdaq gained 9 points to 5,843.


Craftsman has recalled a 10-inch portable table saw, model number 137.415030, for injury hazards. A foldable stand that comes with the saw can unexpectedly collapse, causing injury. There have been 11 reports of the table collapsing with nine of those accidents causing injuries to fingers and hand. The saw is sold exclusively by Sears Holdings.


The new Nintendo Switch next generation game console set sales records in the Americas after launching on Friday. The gaming system sold more units on Friday and Saturday than any other Nintendo system in the same time frame. The well-reviewed The Legend of Zelda: Breath of the Wild, which also went on sale on Friday, became the best selling standalone launch title for Nintendo.


A lawsuit alleging that Chipotle defrauded shareholders was dismissed by a district judge. Plaintiffs claimed that the fast casual restaurant chain hid the severity of a series of food poisoning cases in 2015. Chipotle has apologized for the outbreaks, implemented new food safety standards and committed $10 million to work with its smaller suppliers to improve the safety of its meat and vegetables.


In the broad market, declining issues outpaced advancers by a margin of more than 2 to 1 on the NYSE and by nearly 10 to 9 on Nasdaq. The broader S&P 500 index slipped 2 points to 2,365. Bitcoin tumbled $46 to $1,180.


The markets opened mixed with the Dow losing 19 points to 20,904 while Nasdaq gained 15 points to 5,849 as labor productivity rose by a less than expected 1.3% in the fourth quarter.


On the upside


ParkerVision (Nasdaq: PRKR) has received three additional favorable rulings from the Patent Trial and Appeal Board.


H&R Block (NYSE: HRB) reported a loss for the third quarter but the tax preparation company increased market share in the Assisted and DIY categories.


Fourth quarter earnings more than doubled for Children's Place (Nasdaq: PLCE) to beat analyst expectations and the company doubled its quarterly dividend.


On the downside


Express (NYSE: EXPR) reported sharply lower fourth quarter earnings as revenue dropped and warned of losses for the first quarter.


Ciena (NYSE: CIEN) reported first quarter earnings and revenue that fell short of analyst expectations. 

 

Health Insurance Innovations (Nasdaq: HIIQ) priced a secondary offering of 3 million common shares at the discounted price of $14.00 per share.


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 index held steady at 2,368. Bitcoin tumbled $32 to $1,191.


A surge in the nation's trade deficit weighed the markets down to a lower close with the Dow losing 29 points to 20,924. Nasdaq fell 15 points to 5,833.


On the upside


Brookfield Asset Management will pay $787 million in cash and assume approximately $455 million in debt to acquireTerraForm Global (Nasdaq: GLBL).


Fourth quarter earnings surged more than thirteen fold for Momo (Nasdaq: MOMO).


Sterling Bancorp (NYSE: STL) will acquire Astoria Financial (NYSE: AF) in an all stock transaction valued at approximately $2.2 billion.


On the downside


Akebia Therapeutics (Nasdaq: AKBA) widened losses for the fourth quarter.


As part of a patent litigation settlement agreement, Supernus Pharmaceuticals (Nasdaq: SUPN) will permit Zydus Pharmaceutical  and Actives Laboratories to sell a generic versions of Supernus' Trokendi XR beginning January 1, 2023. 

 

Perion Network (Nasdaq: PERI) reversed year ago losses to post a modest profit for the fourth quarter but the stock price fell.


In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 2 on the NYSE and by more than 5 to 3 on Nasdaq. The broader S&P 500 index fell 6 points to 2,368. Bitcoin tumbled $30 to $1,236.


ITC investigates Ford

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The markets traded lower during the midday with the Dow losing 18 points to 20,936. Nasdaq slipped a point to 5,848.


Ford Motor is the target of a patent infringement investigation by the U.S. International Trade Commission. Hybrid vehicle technology company Paice and philanthropy organization Abell Foundation have alleged that Ford has imported hybrid electric vehicles and parts that infringe on their patents. The companies have asked for a cease and desist order and a limited exclusion order against Ford.


After surging in its market debut last week, Snapchat parent Snap has plunged approximately 27% from its high of $29.04. The social media site is not profitable and posted staggering losses of more than $514 million last year. In 2015, the company lost $373 million. Four analysts have initiated coverage of Snap with a Sell rating.


Investors are unloading shares of pharmaceuticals, hospital operators and biotechnology firms in reaction to the House Republican bill which repeals the Affordable Care Act. The American Healthcare Act will reverse the expansion of Medicaid and eliminates subsidies for people with low income. The two popular Obamacare features will be maintained. Children will be able to remain on the parents' healthcare plan until they turn 26 and people with pre-existing conditions will be allowed to maintain their coverage.


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 4 on Nasdaq. The broader S&P 500 index lost 3 points to 2,372. Bitcoin tumbled $18 to $1,247.


The markets opened lower with the Dow falling 25 points to 20,929 as the nation's trade deficit soared 9.6% to $48.5 billion in January. Nasdaq lost 7 points to 5,841.


On the upside


Hewlett Packard Enterprises (NYSE: HPE) offered a premium of approximately $1.09 billion in cash to acquire Nimble Storage (NYSE: NMBL).


MeetMe (Nasdaq: MEET) impressed with sharply higher fourth quarter earnings and revenue.


Weatherford International (NYSE: WFT) named Halliburton (NYSE: HAL) chief financial officer Mark McCollum to the position of president and chief executive officer.


On the downside


Investors locked in profits on Rennova Health (Nasdaq: RNVA).


Profit taking weighed down shares of BioScrip (Nasdaq: BIOS). 

 

Second quarter earnings for Thor Industries (NYSE: THO) fell short of analyst expectations.


In the broad market, declining issues outpaced advancers by a margin of more than 3 to 1 on the NYSE and by nearly 5 to 2 on Nasdaq. The broader S&P 500 index lost 5 points to 2,370. Bitcoin plunged $37 to $1,229.


Geopolitical tensions weighed the markets down to a lower close with the Dow dropping 51 points to 20,954. Nasdaq fell 21 points to 5,849.


On the upside


Dextera Surgical (Nasdaq: DXTR) reported that use of its MicroCutter 5/80 surgical stapler to perform Microlobectomy procedures reduced the median hospital stay by at least two days.


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


The National Kidney Foundation accepted Aurinia Pharmaceuticals' (Nasdaq: AUPH) abstract for voclosporin to presentation at the 2017 Spring Clinical Meetings.


On the downside


Investors locked in profits on Snap (NYSE: SNAP).


Retreating crude oil prices weighed down shares of Bonanza Creek Energy (NYSE: BCEI). 

 

STAT reported that NantHealth (Nasdaq: NH) founder Patrick Soon-Shiong may have violated federal securities laws.


In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 3 on the NYSE and by nearly 5 to 2 on Nasdaq. The broader S&P 500 index fell 7 points to 2,375. Bitcoin added $3 to $1,267.


GM to cut 1,100 jobs

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The markets traded lower during the midday with the Dow falling 41 points to 20,964. Nasdaq lost 20 points to 5,849.


General Motors will eliminate up to 1,100 jobs at its Lansing Delta Township plant in Michigan as it shifts production of the GMC Arcadia to an assembly facility in Spring Hill, Tennessee. The next generation GMC Arcadia will be built on a smaller platform. The Michigan plant will continue to assemble the crossover SUVs Chevrolet Traverse and Buick Enclave, which are built on the same platform.


Deutsche Bank plans to raise approximately $8.5 billion through the issuance of new stock and other actions. The capital raise is the third time that the bank is increasing capital in four years and comes after posting a fourth quarter loss of $2 billion. Deutsche Bank will also reorganize its operations to improve efficiency and position to bank for significant growth.


France's PSA Groupe will acquire the European operations of General Motors in a deal valued at approximately $2.2 billion. The acquisition will increase PSA's European market share to 17%. General Motors will retain financial responsibility for most of the Opel brand's European Union and United Kingdom pension plans.


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 2 on Nasdaq. The broader S&P 500 index lost 7 points to 2,375. Bitcoin added $1 to $1,264.


The markets opened lower with the Dow dropping 68 points to 20,937 despite a better than expected gain in January factory orders. Nasdaq fell 36 points to 5,833.


On the upside


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


TG Therapeutics (Nasdaq: TGTX) reported positive results from a Phase 3 GENUINE clinical trial of TG-1101 plus ibrutinib to treat chronic lymphocytic leukemia.


Vertex Pharmaceuticals (Nasdaq: VRTX) will pay $160 million in cash for the worldwide development and commercialization rights to Concert Pharmaceuticals' (Nasdaq: CNCE) investigational cystic fibrosis treatment CTP-656.


On the downside


Ionis Pharmaceuticals (Nasdaq: IONS) subsidiary Akcea Therapeutics announced positive results from a Phase 3 APPROACH study of volanesorsen but the stock price dropped.


The first case of the avian flu this year has been confirmed at a chicken farm in Tennessee that supplies chickens to Tyson Foods (NYSE: TSN). 

 

Investors locked in profits on Akorn (Nasdaq: AKRX).


In the broad market, declining issues outpaced advancers by a margin of more than 4 to 1 on the NYSE and by nearly 7 to 2 on Nasdaq. The broader S&P 500 index fell 9 points to 2,373. Bitcoin rose $5 to $1,269.


The markets closed flat with the Dow adding 2 points to 20,005 on indications that the Federal Reserve will increase interest rates this month. Nasdaq rose 9 points to 5,870.


On the upside


Rennova Health (Nasdaq: RNVA) opened an online portal to hire new staff for its Big South Fork Medical Center when the facility reopens in the second quarter.


The Habit Restaurant (Nasdaq: HABT) reported sharply higher fourth quarter earnings and revenue.


Bargain hunters lifted shares of SunOpta (Nasdaq: STKL).


On the downside


Immersion (Nasdaq: IMMR) fell to a greater than expected loss for the fourth quarter as revenue plunged and the company forecast current quarter results well below estimates.


The Food and Drug Administration ordered SCYNEXIS (Nasdaq: SCYX) to halt the initiation of any new clinical studies with the intravenous formulation of SCY-078 until the FDA completes a review of all available pre-clinical and clinical data of the IV formulation of SCY-078. 

 

Shares of DryShips (NYSE: DRYS) 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 a slim margin on Nasdaq. The broader S&P 500 index added a point to 2,383. Bitcoin climbed $13 to $1,262.


The markets traded lower during the midday with the Dow falling 19 points to 20,983. Nasdaq slipped 3 points to 5,858.


Approximately one million Mercedes-Benz vehicles worldwide will be recalled in response to 51 reported fires that were caused by a defective starter part. No injuries or deaths have been reported. The recall affects certain C-class, E-class and CLA cars and GLA and GLC SUVs for model years 2015, 2016 and 2017.


HHGregg will close 88 stores and 15 distribution centers across 15 states as part of its efforts to return to profitability. The plan will eliminate approximately 1,500 jobs. The appliance and electronics retailer reported losses for the past two years as more customers opted for the convenience of online shopping.


Nintendo's latest gaming console Switch launched today with many gamers lining up for hours to get their hands the device. Along with the console, five games will be available in North America and Europe while seven titles will be available in Japan. Analysts expect the Switch to sell 4 to 5 million units in 2017.


In the broad market, declining issues outpaced advancers by a margin of 3 to 2 on the NYSE and by nearly 5 to 3 on Nasdaq. The broader S&P 500 index slipped 2 points to 2,379. Bitcoin gained $7 to $1,256.


The markets opened flat with the Dow losing 8 points to 20,994 ahead of a speech by Federal Reserve chair Janet Yellen. Nasdaq eased a point to 5,859.


On the upside


Shares of Snap (NYSE: SNAP) continued to climb.


Bargain hunters lifted shares of Adeptus Health (NYSE: ADPT).


BioScrip (Nasdaq: BIOS) reported a loss for the fourth quarter but core revenue climbed.


On the downside


Nutanix (Nasdaq: NTNX) widened second quarter losses and forecast greater than expected losses for the current quarter.


Shares of Advanced Micro Devices (Nasdaq: AMD) fell on negative reviews of its new series of Ryzen chips. 

 

Bill Barrett (NYSE: BBG) widened losses for the fourth quarter.


In the broad market, declining issues outpaced advancers by a margin of nearly 10 to 9 on the NYSE while advancers edged out decliners by more than 10 to 9 on Nasdaq. The broader S&P 500 index slipped 2 points to 2,379. Bitcoin climbed $18 to $1,267.


The markets tumbled to close sharply lower with the Dow plunging 112 points to 21,002 as investors reacted to the staggering cost of President Donald Trump's proposed economic plan. Nasdaq tumbled 42 points to 5,861.


On the upside


Shares of Snapchat parent Snap (NYSE: SNAP) surged in its market debut.


Navigator Holdings (NYSE: NVGS) reported better than expected earnings for the fourth quarter.


Karyopharm Therapeutics (Nasdaq: KPTI) will present new data on its product candidates in development at the 2017 Annual Meeting of the American Association for Cancer Research in April.


On the downside


Adeptus Health (NYSE: ADPT) cited issues with its financial reporting procedures for delaying the filing of its annual report prompting several law firms to initiate investigations into possible securities violations.


Endeavour Silver (NYSE: EXK) reported a loss for the fourth quarter as revenue dropped. 

 

Shares of DryShips (Nasdaq: DRYS) fell for the fourth day in a row.


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 2 on Nasdaq. The broader S&P 500 index dropped 14 points to 2,381. Bitcoin soared $25 to $1,237.


Caterpillar facilities raided

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The markets extended its losses during the midday with the Dow falling 66 points to 21,049. Nasdaq dropped 31 points to 5,872.


Law enforcement personnel searched several Caterpillar facilities in Peoria, Illinois. Officials from the Internal Revenue Service's Criminal Investigation Division, the Office of Export Enforcement at the U.S. Department of Commerce's Bureau of Industry and Security and the Federal Deposit Insurance Corp.'s Office of Inspector General all participated in the searches. Caterpillar said that they were cooperating the investigation but did not disclose any details about the searches.


Snapchat parent company Snap made its debut on the New York Stock Exchange at $24 per share, which is approximately 41% over its initial offering price of $17 per share. With an opening price of $24 per share, the messaging app is valued at approximately $33 billion. While the offering was oversubscribed by ten times, questions remain about any potential path to profitability for a company that just reported losses of $515 million in 2016.


According to analysts at WoodMackenzie, gasoline demand is expected to peak in the United States next year. The U.S. already consumes 10% of the global supply of oil. In 2016, domestic consumption surged to a record 9.326 million barrels of oil per day. Vehicles are becoming more energy efficient and electric vehicles expanding their market share, 


In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 2 on the NYSE and by more than 5 to 3 on Nasdaq. The broader S&P 500 index fell 10 points to 2,385. Bitcoin soared $45 to $1,257.


The markets opened modestly lower with the Dow slipping 3 points to 21,111 as investors locked in profits. Nasdaq lost 10 points to 5,893.


On the upside


Aurinia Pharmaceuticals (Nasdaq: AUPH) reported positive results from a Phase IIb AURA-LV study in lupus nephritis.


MYOS RENS Technology (Nasdaq: MYOS) launched its Qurr line of muscle focused, natural, over the counter products to increase muscle size and lean body mass.


Monster Beverage (Nasdaq: MNST) reported higher fourth quarter earnings that beat analyst expectations and announced a $500 million stock repurchase program.


On the downside


Puma Biotechnology (Nasdaq: PBYI) widened losses for the fourth quarter.


PTC Therapeutics (Nasdaq: PTCT) reported disappointing results from a Phase 3 clinical trial of ataluren to treat nonsense mutation cystic fibrosis. 

 

Opko Health (Nasdaq: OPK) fell to a greater than expected loss for the fourth quarter.


In the broad market, declining issues outpaced advancers by a margin of more than 5 to 2 on the NYSE and by more than 5 to 3 on Nasdaq. The broader S&P 500 index lost 4 points to 2,391. Bitcoin climbed $18 to $1,232.


Optimism over economic growth prospects sent the markets soaring to a sharply higher close with the Dow rocketing 303 points to 21,115. Nasdaq jumped 78 points to 5,904.


On the upside


Calithera Biosciences (Nasdaq: CALA) will present at the Cowen and Company 37th Annual Health Care Conference 2017.


NeuroDerm (Nasdaq: NDRM) reported positive results from a Phase II study of ND0612H to treats advanced Parkinson's disease.


Office Depot (Nasdaq: ODP) reported higher fourth quarter earnings that topped analyst estimates and appointed Gerry Smith to the position of chief executive officer.


On the downside


Impax Laboratories (Nasdaq: IPXL) fell to a loss for the fourth quarter.


Fourth quarter revenue plunged for Seadrill Partners (NYSE: SDLP). 

 

Etsy (Nasdaq: ETSY) widened losses for the fourth quarter even as revenue climbed.


In the broad market, advancing issues outpaced decliners by a margin of more than 2 to 1 on the NYSE and by 3 to 1 on Nasdaq. The broader S&P 500 index leaped 32 points to 2,395. Bitcoin surged $27 to $1,212.


The markets extended its gains during the midday with the Dow rocketing 292 points to 21,104. Nasdaq surged 77 points to 5,902.


Twitter introduced additional measures to combat abusive behavior by users. Previously, Twitter acted only when victims reported bullying behavior. Now, the social media company will use algorithms to identify accounts that engage in harassment and temporarily penalize the accounts. Users will also be able to mute phrases, words or conversations from their timeline.


Eight senior Wells Fargo executives will not receive cash bonuses for 2016 as part of a company effort to improve transparency and accountability. The three-year performance share equity awards that these same executives received in 2014 will also be slashed by 50%. In total, the compensation reductions amount to approximately $32 million. 


YouTube announced a new $35 subscription service aimed at millennials who do not watch TV. The YouTube TV service will offer approximately 40 channels including ABC, CBS, NBC, CW, Fox, Fox News, Disney Channel, MSNBC and FX. The broadcast and cable shows will be streaming live so users will see commercials along with the programs.


In the broad market, advancing issues outpaced decliners by a margin of more than 2 to 1 on the NYSE and by nearly 7 to 2 on Nasdaq. The broader S&P 500 index jumped 33 points to 2,396. Bitcoin soared $23 to $1,208.


President Donald Trump's speech last night promoting economic growth boosted the markets to a sharply higher open with the Dow leaping 237 points to 21,049. Nasdaq climbed 57 points to 5,883.


On the upside


Vizient awarded Skyline Medical (Nasda: SKLN) an Innovative Technology contract for the STREAMY System.


The Food and Drug Administration accepted for review Dynavax's (Nasdaq: DVAX) responses to the FDA's Complete Response Letter for the Biologics License Application for HEPLISAV-B.


Weight Watchers (NYSE: WTW) reversed year ago losses to post a stronger than expected profit for the fourth quarter.


On the downside


Palo Alto Networks (NYSE: PANW) widened losses for the second quarter and cut its current quarter forecast.


Babcock & Wilcox Enterprises (NYSE: BW) widened fourth quarter losses significantly as revenue tumbled. 

 

American Eagle Outfitters (NYSE: AEO) reported lower fourth quarter earnings and warned of lower same store sales for the current quarter.


In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 2 on the NYSE and by nearly 4 to 1 on Nasdaq. The broader S&P 500 index soared 24 points to 2,388. Bitcoin leaped $30 to $1,216.


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