May 2017 Archives

Crude oil prices slipped to weigh the markets down to a lower close with the Dow falling 20 points to 21,008. Nasdaq lost 4 points to 6,198.


On the upside


Vera Bradley (Nasdaq: VRA) reported a smaller than expected loss for the first quarter.


Needham resumed coverage of Control4 (Nasdaq: CTRL) with a Buy rating.


Frontline (NYSE: FRO) reported better than expected results for the first quarter.


On the downside


Profit taking weighed down shares of NII Holdings (Nasdaq: NIHD).


Denbury Resources (NYSE: DNR) will pay $71.5 million subsidiaries of Linn Energy to acquire their 23% non-operated the working interest in Salt Creek Field in Wyoming.

 

Canaccord downgraded iRobot (Nasdaq: IRBT) from a Buy rating to a Hold rating and set a $90 price target.


The broader S&P 500 eased a point to 2,411. Bitcoin soared $56 to $2264.


The markets traded lower during the mid with the Dow losing 31 points to 20,998. Nasdaq fell 18 points to 6,184.


Reports that President Donald Trump is expected to withdraw the United States from the Paris Climate Agreement sent shares of coal and solar companies tumbling. Coal companies expressed concerns the nation's exit from the climate agreement would spark a global backlash against the coal industry. Renewable energy companies fear that they will lose their competitive edge as other countries invest in alternative energy research and innovation.


Payless ShoeSource had announced the closure of approximately 400 stores in the U.S. and Puerto Rico when it filed for Chapter 11 bankruptcy protection last month. The discount shoe retailer now requested permission from a bankruptcy judge to close an additional 408 stores. The closure of more than 800 stores accounts for approximately 20% of the retailer's locations.


General Electric signed multiple deals with Vietnam worth a total of approximately $5.58 billion. A joint venture between GE and Safran will make 20 jet engines for Vietjet Aviation. GE will partner with PetroVietnam to build two 750-megawatt gas fired turbine power plants. GE entered a joint development agreement with Phu Cuong Group and International Mainstream Renewable Power to construct an 800-megawatt wind power facility.


The broader S&P 500 lost 4 points to 2,408. Bitcoin soared $70 to $2278.


A drop in pending home sales sent the markets down to a lower open with the Dow dropping 68 points to 20,960. Nasdaq tumbled 31 points to 6,172.


On the upside


Hertz Global Holdings (NYSE: HTZ) announced a $1 billion private offering of senior second priority secured notes.


J.Jill (NYSE: JILL) reported higher first quarter earnings and revenue.


Perrigo (NYSE: PRGO) reversed year ago losses to post a greater than expected profit for the first quarter.


On the downside


Michael Kors (NYSE: KORS) fell to a greater than expected loss for the fourth quarter.


Investors locked in profits on China New Borun (NYSE: BORN).

 

Bank of America (NYSE: BAC) introduced its Mobile Car Shopping Service app that integrates online shopping and financing for cars but the stock price dropped.


The broader S&P 500 fell 6 points to 2,406. Bitcoin lost $7 to $2200.


Consumer spending rose in April but the markets closed lower with the Dow dropping 50 points to 21,029 over the likelihood of another interest rate hike. Nasdaq lost 7 points to 6,203.


On the upside


A judge issued an initial ruling in TiVo's (Nasdaq: TIVO) favor finding that Comcast (Nasdaq: CMCSA) violated two of TiVo's patents.


Bargain hunters lifted shares of Stein Mart (Nasdaq: SMRT).


Conn's (Nasdaq: CONN) scheduled a conference call on June 6, 2017 at 11am Eastern time to discuss first quarter results.


On the downside


Shares of Editas Medicine (Nasdaq: EDIT) tumbled after a scientific paper that was published in Nature Methods warned of unintended genetic mutations in mice that had been cured of blindness using CRISPR/Cas9.


Retreating crude oil prices weighed down shares of Comstock Resources (NYSE: CRK).

 

Falling gold prices sent shares of Sibanye Gold (NYSE: SBGL) lower.


The broader S&P 500 slipped 2 points to 2,412. Bitcoin dropped $38 to $2244.


The markets traded lower during the midday with the Dow losing 45 points to 21,034. Nasdaq fell 8 points to 6,202


The U.S. Supreme Court overturned a Montana Supreme Court ruling that allowed injury lawsuits to be filed against a company that conducted business in Montana even if the injuries were sustained in other states. Two separate lawsuits were filed against the BNSF Railway Company in Montana for employees who were injured outside of Montana. The U.S. Supreme Court ruled that state courts only have jurisdiction if an injury is sustained in that state or if the company is based in that state. 


The Commerce Department reported that April consumer spending rose a healthy 0.4% on the heels of an upwardly revised 0.3% increase in March. The April gain was the largest in fourth months and is indicative of a strengthening economy. More than two-thirds of the nation's economic activity comes from consumer spending.


Essential Products introduced its Essential titanium smartphone that features an edge-to-edge Quad HD 5.71-inch display. While the Android smartphone comes with a dual camera, a 360-degree camera accessory is available. The Essential phone also sports a magnetic connector that will allow users to wirelessly transfer data. 


The broader S&P 500 slipped 2 points to 2,413. Bitcoin tumbled $50 to $2232.


Retreating crude oil prices weighed the markets down to a lower open with the Dow losing 42 points to 21,037. Nasdaq held steady at 6,210.


On the upside


Ensco (NYSE: ESV) will acquire Atwood Oceanics (NYSE: ATW) in an all stock transaction .


Chinese New Borun (NYSE: BORN) impressed with sharply higher first quarter earnings as revenue rose.


Vista Equity Partners will take Xactly (NYSE: XTLY) private for a premium of approximately $564 million.


On the downside


Investors locked in profits on Nutanix (Nasdaq: NTNX).


Falling crude oil prices weighed down shares of SeaDrill (NYSE: SDRL).

 

Goldman Sachs downgrade Whiting Petroleum (NYSE: WLL) from a Neutral rating to a Sell rating.


The broader S&P 500 slipped 3 points to 2,412. Bitcoin dropped $36 to $2246.


U.S. markets closed

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U.S. markets are closed in observance of Memorial Day.

The markets closed flat with the Dow slipping 2 points to 21,080 as the nation's economy expanded at a modest rate in the first quarter. Nasdaq added 4 points to 6,210.


On the upside


Shares of NII Holdings (Nasdaq: NIHD) surged on no news.


First quarter earnings surged for Veeva Systems (NYSE: VEEV) as revenue climbed.


Rayonier Advanced Materials (NYSE: RYAM) will acquire Tembec in a cash and stock transaction valued at approximately $807 million including the assumption of debt.


On the downside


Investors locked in profits on BioCryst Pharmaceuticals (Nasdaq: BCRX).


Citigroup downgraded JinkoSolar Holding (NYSE: JKS) from a Neutral rating to a Sell rating while Morgan Stanley downgraded the solar power company from an Overweight rating to an Underweight rating.

 

Profit taking weighed down shares of Sears Holdings (Nasdaq: SHLD).


The broader S&P 500 held steady at 2,415. Bitcoin plummeted $232 to $2220.


The markets opened mixed with the Dow slipping 15 points to 21,067 while Nasdaq held steady at 6,205 as the nation's economy expanded at a modest 1.2% rate in the first quarter on the heels of a stronger 2.1% growth rate in the fourth quarter.


On the upside


Nutanix (Nasdaq: NTNX) reported a smaller than expected loss for the third quarter and forecast current quarter revenue ahead of estimates.


Deckers Outdoor (NYSE: DECK) reported a loss that was smaller than expected and lifted its full year forecast.


AmTrust Financial Services (Nasdaq: AFSI) raised $300 million through a private placement.


On the downside


Zoe's Kitchen (NYSE: ZOES) disappointed with sharply lower first quarter earnings.


GameStop (NYSE: GME) reported better than expected first quarter earnings and revenue but the stock price fell.

 

Splunk (Nasdaq: SPLK) narrowed losses for the first quarter as revenue rose but the stock price dropped.


The broader S&P 500 held steady at 2,415. Bitcoin plummeted $136 to $2316.


Upbeat earnings lift markets

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Upbeat earnings lifted the markets to a higher close with the Dow climbing 70 points to 21,082. Nasdaq gained 42 points to 6,205.


On the upside


Bargain hunters snapped up shares of SPI Energy (Nasdaq: SPI).


Modine Manufacturing (NYSE: MOD) reported better than expected earnings for the fourth quarter as revenue soared.


Guess? (NYSE: GES) narrowed first quarter losses more than expected.


On the downside


Genesco (NYSE: GCO) disappointed with sharply lower first quarter earnings that missed expectations.


Hornbeck Offshore Services (NYSE: HOS) will be replaced on the S&P SmallCap 600 by Time (NYSE: TIME).

 

Shares of Bristow Group (NYSE: BRS) extended its losses.


The broader S&P 500 climbed 10 points to 2,415. Bitcoin tumbled $44 to $2401.


OPEC extends production cuts

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The markets traded higher during the midday with the Dow rising 64 points to 21,077. Nasdaq soared 41 points to 6,204.


The Organization of the Petroleum Exporting Countries agreed to extend its temporary production cut by nine months. OPEC Conference president Khalid A. Al-Falih said that oil prices were beginning to rebalance due to the production cuts that were implemented in December 2016 and that additional inventory reductions were necessary to continue stabilizing the markets. However, crude oil prices slipped after the announcement.


Worksafe reported that worker injury rates at Tesla in 2015 were 31% higher than industry average while more serious injuries were nearly double the industry average. The overall rate in 2015 was 8.8 injuries per 100 workers. Tesla said that the rate has improved over the past two years to 8.1 injuries per 100 workers in 2016 and 4.6 in the first quarter of 2017.


A class action lawsuit was filed against General Motors for allegedly installing emissions cheating devices in GM Duramax diesel trucks. Owners claim that GM installed the devices in model years 2011 through 2016 Chevrolet Silverado Duramax and GMC Sierra Duramax trucks. GM said that there was no merit to the lawsuit.


The broader S&P 500 climbed 10 points to 2,414. Bitcoin dropped $21 to $2424.


First time applications for unemployment benefits rose less than expected last week to lift the markets to a higher open with the Dow gaining 70 points to 21,082. Nasdaq climbed 27 points to 6,190.


On the upside


BioCryst Pharmaceuticals (Nasdaq: BCRX) reported additional positive data from a second interim analysis of its Phase 2 APeX-1 clinical trial.


Best Buy (NYSE: BBY) reported first quarter earnings that beat expectations.


Sears Holdings (Nasdaq: SHLD) reversed year ago losses to post an unexpected profit for the first quarter.


On the downside


International Game Technology (NYSE: IGT) reported a greater than expected loss for the first quarter.


Costamere (NYSE: CMRE) priced its public offering of 13.5 million common shares at the discounted price of $7.10 per share.

 

Hormel Foods (NYSE: HRL) disappointed with lower second quarter earnings and revenue that fell short of expectations.


The broader S&P 500 gained 8 points to 2,412. Bitcoin leaped $264 to $2710.


The Federal Reserve indicated that more upbeat economic data was needed before raising interest rates. The markets closed higher with the Dow climbing 74 points to 21,012. Nasdaq gained 24 points to 6,163.


On the upside


Triumph Group (NYSE: TGI) narrowed losses for the fourth quarter.


The Food and Drug Administration's Oncologic Drugs Advisory Committee recommended approval of Puma Biotechnology's (Nasdaq: PBYI) breast cancer treatment neratinib.


Tilly's (NYSE: TLYS) narrowed first quarter losses more than expected.


On the downside


Bristow Group (NYSE: BRS) widened losses for the fourth quarter.


Neurocrine Biosciences (Nasdaq: NBIS) reported disappointing results from a Phase II Tourette syndrome T-Force Green study of Ingrezza.

 

Tiffany (NYSE: TIF) reported an unexpected drop in same store sales.


The broader S&P 500 added a point to 2,399. Bitcoin leaped $240 to $2466.


The markets extended its gains during the midday with the Dow climbing 65 points to 21,002. Nasdaq rose 14 points to 6,153.


Target agreed to pay an $18.5 million settlement with 47 states and the District of Columbia for a 2013 data breach that affected over 41 million customer accounts. Cyberattackers stole confidential customer information such as names, phone numbers, email addresses, credit card numbers and verification codes. The states will use their portion of the settlement to pay attorney and investigator fees in addition to funding consumer protection programs and consumer education.


Microsoft introduced its monthly Xbox Game Pass that will allow users online access to over 100 games. The $9.99 per month subscription service is available to Xbox Live Gold members beginning today and will be made available to all Xbox One owners on June 1. Xbox Game Pass members will receive a 20% discount on any games that they purchase that are part of the Game Pass program.


Grace Children's Products issued a recall of more than 25,000 car seats that have weak webbing. Harness webbing on the My Ride 65 convertible car seats that were made on July 22, 2014 with model numbers 1871689, 1908152, 1813074, 1872691, 1853478, 1877535, 1813015, and 1794334 and with code 2014/06 on the webbing tag may break during a crash. A free replacement harness will be provided to owners of the car seat.


The broader S&P 500 rose 3 points to 2,401. Bitcoin rocketed $185 to $2411.


The markets opened modestly higher with the Dow rising 20 points to 20,958 ahead of the release of minutes from the Federal Reserve's May meeting. Nasdaq added 4 points to 6,142.


On the upside


The Container Store (NYSE: TCS) reported sharply higher fourth quarter earnings that beat expectations.


Inovio Pharmaceuticals (Nasdaq: INO) reported upbeat preliminary results from a clinical study of its PENNVAX-GP HIV vaccine.


CF Corp (Nasdaq: CFCO) will pay a premium of approximately $1.835 billion in cash to acquire Fidelity & Guaranty Life (NYSE: FGL).


On the downside


Aegean Marine Petroleum Network (NYSE: ANW) disappointed with sharply lower first quarter earnings that missed expectations.


First quarter earnings and revenue fell short for Chico's FAS (NYSE: CHS).

 

Dycom Industries (NYSE: DY) reported higher third quarter earnings and revenue but forecast current quarter results below expectations.


The broader S&P 500 added a point to 2,399. Bitcoin leaped $134 to $2360.


Sales of new single family homes fell in April but the markets closed modestly higher with the Dow gaining 43 points to 20,937 as investors reviewed President Donald Trump's budget plan. Nasdaq rose 5 points to 6,138.


On the upside


Glencore reportedly made an offer to acquire Bunge (NYSE: BG).


Shares of Puma Biotechnology (Nasdaq: PBYI) extended its gains.


Bargain hunters lifted shares of Endo International (Nasdaq: ENDP).


On the downside


Third quarter earnings and revenue for AutoZone (NYSE: AZO) fell short of analyst expectations.


Second quarter earnings fell for Nordson (Nasdaq: NDSN) even as revenue climbed.

 

DSW (NYSE: DSW) disappointed with lower first quarter earnings that missed expectations.


The broader S&P 500 rose 4 points to 2,398. Bitcoin soared $79 to $2226.


Kodak Ektra launches in U.S.

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The markets traded mixed during the midday with the Dow gaining 46 points to 20,941. Nasdaq eased a point to 6,132.


Kodak partnered with Bullitt Group to develop the Kodak Ektra smartphone that looks and feels like a camera. The Android phone boasts a 13-megapixel front facing camera with Google's Snapseed photo editing app preloaded. Kodak launched Ektra in Europe last year and has released the Ektra today in the U.S. with software upgrades.


The Organization of the Petroleum Exporting Countries will meet on Thursday to discuss a possible extension of the output cut agreement that was made in December 2016. OPEC nations along with 11 nonmember countries committed to lowering output by approximately 1.8 million barrels per day for the first six months of 2017 in order to boost prices. The oil producing nations are expected to extend the output cut by nine months.


Rumors continued to swirl about a possible merger between Sprint and T-Mobile US. The two wireless carriers had previously engaged in conversations to combine their businesses but abandoned discussions when regulators appeared poised to block a potential merger. With a new business friendly president in office, a consolidation of the nation's third and fourth largest wireless services providers may win regulatory approval.


The broader S&P 500 rose 5 points to 2,399. Bitcoin soared $72 to $2218.


Mixed open after UK bombing

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The markets opened mixed with the Dow rising 29 points to 20,924 after a bomb killed 22 people during an Ariana Grande concert in the UK. Nasdaq lost 5 points to 6,128.


On the upside


Take-Two (Nasdaq: TTWO) impressed with sharply higher fourth quarter earnings and revenue that beat expectations.


Nokia (NYSE: NOK) settled a patent dispute with Apple (Nasdaq: AAPL) by entering a new license agreement and business deal that will provide Nokia with an upfront cash payment.


Agilent Technologies (NYSE: A) reported sharply higher second quarter earnings that topped analyst estimates.


On the downside


Momo (Nasdaq: MOMO) reported higher first quarter earnings and revenue but the stock price fell.


Kosmos Energy (NYSE: KOS) announced a secondary offering of 40 million common shares at the discounted price of $7.25 per share.

 

Wells Fargo downgraded Xilinx (Nasdaq: XLNX) from an Outperform rating to a Market Perform rating.


The broader S&P 500 added 2 points to 2,396. Bitcoin soared $82 to $2229.


Rising crude oil prices lifted the markets to a higher close with the Dow gaining 89 points to 20,894. Nasdaq advanced 49 points to 6,133.


On the upside


The Food and Drug Administration posted briefing documents for the Oncologic Drugs Advisory Committee meeting on May 24 to review Puma Biotechnology's (Nasdaq: PBYI) breast cancer treatmentneratinib.


Rosenblatt analyst Jun Zhang expects Finisar (Nasdaq: FNSR) to resume shipping products to Huawei in July after passing a requalificaton test.


Bargain hunters lifted shares of Stein Mart (Nasdaq: SMRT).


On the downside


Shares of Forterra (Nasdaq: FRTA) fell for the seventh day.


Robert W. Baird downgraded Zoe's Kitchen (NYSE: ZOES) from an Outperform rating to a Neutral rating.

 

PRA Group (Nasdaq: PRAA) will offer $300 million in convertible senior notes.


The broader S&P 500 climbed 12 points to 2,394. Bitcoin leaped $119 to $2128.


Ford fires CEO

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The markets advanced during the midday with the Dow soaring 94 points to 20,899. Nasdaq climbed 49 points to 6,132.


Ford Motor unexpectedly replaced chief executive Mark Fields with former Steelcase chief executive James P. Hackett. Hackett previously served on the automaker's board of directors for three years then more recently became chair of its mobility services subsidiary Ford Smart Mobility. Hackett is tasked with overhauling Ford's hierarchical structure to expedite the decision making process and creating a 


Amazon registered the trademark "No Queue. No Checkout. (No, Seriously.)" in the United Kingdom. The trademark is similar to the tagline "No Line. No Checkout. (No, Seriously.)" in the U.S. for the experimental Amazon Go no checkout grocery store that opened in December 2016 in Seattle for Amazon staff.  Shoppers simply walk into the store, place desired items into a grocery bag then walk out.


The Department of Education expects to save approximately $130 million over five years by slashing the number of federal student loan servicing companies from nine to one. More than $1 trillion in student loans has been issued by the Education Department but private companies service the loans by collecting payments, administering payment deferment plans, and providing customer service. Critics claim that the loss of competition will lead to higher fees at the expense of students. 


The broader S&P 500 climbed 12 points to 2,394. Bitcoin surged $208 to $2217.


The markets opened higher with the Dow climbing 80 points to 20,885 as crude oil prices continued to rise. Nasdaq gained 30 points to 6,113.


On the upside


First quarter earnings surged for Cheetah Mobile (NYSE: CMCM).


Nutanix (Nasdaq: NTNX) announced the private cloud deployment of SAIC Volkswagen.


The Blackstone Group (NYSE: BX) partnered with Saudi Arabia's Public Investment Fund to raise $40 million for infrastructure investment.


On the downside


Shares of Banco Bradesco (NYSE: BBD) and Petrobras (NYSE: PBR) extended its losses.


Graphic Packaging Holding (NYSE: GPK) stock fell for the fifth day.

 

Profit taking weighed down shares of Quorum Health (NYSE: QHC).


The broader S&P 500 gained 8 points to 2,389. Bitcoin leaped $146 to $2155.


Crude oil prices climbed to lift the markets to a sharply higher close with the Dow leaping 141 points to 20,804. Nasdaq gained 28 points to 6,083.


On the upside


Vince Holding (NYSE: VNCE) received a $30 million rights offering commitment letter from Sun Capital Partners.


Quorum Health (NYSE: QHC) will participate in the UBS Global Healthcare Conference next week.


Sportsman's Warehouse (Nasdaq: SPWH) reported a loss for the first quarter but revenue rose.


On the downside


bluebird bio (Nasdaq: BLUE) will present data from ongoing clinical studies of LentiGlobin at the 22nd Congress of the European Hematology Association.


A bankruptcy court approved first day motions that were requested by Tidewater (NYSE: TDW).

 

MakeMyTrip (Nasdaq: MMYT) reported a loss for the fourth quarter.


The broader S&P 500 climbed 16 points to 2,381. Bitcoin rose $7 to $1935.


Ford to upgrade Michigan plant

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The markets advanced with the Dow leaping 123 points to 20,786. Nasdaq gained 27 points to 6,082.


Ford Motor will spend $350 million to expand its Livonia Transmission Plant in Michigan. The investment will create or retain 800 jobs at the site and is part of Ford's previously announced $9 billion plan to create or retain 8,500 hourly wage jobs in the U.S. The plant will build advanced transmissions for more fuel efficient front-wheel-drive vehicles.


A jury ordered Starbucks to pay a Florida woman $100,000 for injuries caused by spilled coffee. The woman suffered first and second degree burns after the lid of a cup popped off sending hot coffee pouring onto her lap. The woman's attorney said that customers should be warned that lids can come off the cups.


The next iteration of Google's Android operating system, dubbed Android O, is currently being beta tested by developers. O is expected to offer a picture in picture feature that will allow users to stream a show in a small window while using another app. Another feature of O will be the appearance of a dot on an app to indicate that there is a new notification.


The broader S&P 500 climbed 14 points to 2,380. Bitcoin climbed $53 to $1904.


Bargain hunting continues

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Investors engaged in a second day of bargain hunting to lift the markets to a higher open with the Dow soaring 99 points to 20,762. Nasdaq climbed 36 points to 6,091.


On the upside


Dynegy (NYSE: DYN) engaged in discussions to be acquired by Vistra Energy.


Energy Transfer Partners offered a premium of $20.00 per common unit in cash to acquire PennTex Midstream Partners (Nasdaq: PTSP).


Autodesk (Nasdaq: ADSK) narrowed first quarter losses more than expected.


On the downside


Foot Locker (NYSE: FL) reported lower first quarter earnings that fell short of expectations.


Halozyme Therapeutics (Nasdaq: HALO) announced a public offering of $100 million worth of common stock.

 

Ralph Lauren (NYSE: RL) fell to a loss for the fourth quarter.


The broader S&P 500 climbed 15 points to 2,381. Bitcoin jumped $70 to $1917.


An unexpected drop in first time applications for unemployment benefits lifted the markets to a higher close with the Dow climbing 56 points to 20,663. Nasdaq gained 43 points to 6,055.


On the upside


Leerink Partners upgraded Achillion Pharmaceuticals (Nasdaq: ACHN) from a Market Perform rating to an Outperform rating.


JPMorgan upgraded Clovis Oncology (Nasdaq: CLVS) from a Neutral rating to an Overweight rating.


Bargain hunters lifted shares of Baozun (Nasdaq: BZUN).


On the downside


First quarter earnings plunged for Stein Mart (Nasdaq: SMRT) as revenue fell.


Shares of Banco Santander (NYSE: BSBR), Companhia Energ├ętica de Minas Gerais (NYSE: CIG) and Gol Linhas (NYSE: GOL) all tumbled over news that Brazilian President Michel Temer may be involved in a bribery scandal.

 

Teekay Offshore Partners (NYSE: TOO) reported lower first quarter revenue.


The broader S&P 500 gained 8 points to 2,365. Bitcoin jumped $78 to $1838.


Facebook fined $122 million

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The markets traded higher during the midday with the Dow gaining 39 points to 20,646. Nasdaq climbed 30 points to 6,042.


Facebook was fined by the European Union's antitrust commissioner Margarethe Vestager 110 million euros, approximately $122 million, for providing misleading information about the social networking company's acquisition of WhatsApp. Before Facebook bought the messaging service in 2014, the company had assured the European Commission that the personal data of WhatsApp users would not be shared with Facebook user information. However, Facebook began integrating WhatsApp data with Facebook data last year.


The Department of Justice may file a civil suit against Fiat Chrysler Automobiles over its diesel emissions. The Environmental Protection Agency and the California Air Resources Board have alleged that the automaker used software in 104,000 vehicles that allowed excess diesel emissions to be released. The cars impacted are model years 2014-2016 Jeep Grand Cherokees and Dodge Ram 1500 trucks. 


Google announced a new Google for Jobs initiative that will help job seekers find relevant listings. The search engine will collect and organize job listings from around the world to streamline the job search process. Users can apply filters to narrow the search then click on the link to view the job details on the host website and submit an application for the position.


The broader S&P 500 added 2 points to 2,359. Bitcoin leaped $95 to $1854.


Bargain hunters lift markets

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The markets opened higher with the Dow rising 22 points to 20,629 as investors snapped up bargains. Nasdaq gained 40 points to 6,051.


On the upside


The Food and Drug Administration granted Breakthrough Therapy designation to GlycoMimetics (Nasdaq: GLYC) for its adult relapsed/refractory acute myeloid leukemia treatment GMI-1271.


Elliott Associates acquired a 9.2% stake in Athenahealth (Nasdaq: ATHN).


The Veterans Affairs Medical Center in Richmond, Virginia completed its first implant of EnteroMedics' (Nasdaq: ETRM) vBloc Neurometabolic Therapy.


On the downside


Ascena Retail Group (Nasdaq: ASNA) slashed its third quarter and full year outlook.


Endologix (Nasdaq: ELGX) must conduct a confirmatory clinical study for its Nellix Endovascular Aneurysm Sealing System.

 

A massive corruption scandal in Brazil that potentially involves President Michel Temer sent shares of Banco Bradesco (NYSE: BBD) and Itau Unibanco Holding (NYSE: ITUB) tumbling.


The broader S&P 500 rose 6 points to 2,363. Bitcoin surged $47 to $1808.


Talks in Washington D.C. of impeachment and obstruction of justice rattled investors to send the markets plummeting to a sharply lower close with the Dow crashing 372 points to 20,606. Nasdaq collapsed 158 points to 6,011.


On the upside


Syndax Pharmaceuticals (Nasdaq: SNDX) announced that patients in the ENCORE 601 non-small cell lung cancer trial will advance to the second stage of the Phase 2 trial.


Pulmatrix (Nasdaq: PULM) chief financial officer Bill Duke said that the company's PUR1900 inhaled therapy for treating fungal infections has the potential to be a blockbuster.


The Patent Trial and Appeal Board ruled in favor of Coherus BioSciences' (Nasdaq: CHRS) petitions for Inter Partes Review of AbbVie's U.S. Patent 8,889,135.


On the downside


Bebe (Nasdaq: BEBE) will have to make between $60 to $65 million in lease termination payments.


Roth Capital downgraded Plug Power (Nasdaq: PLUG) from a Neutral rating to a Sell rating and cut its price target from $2.25 to $1.30.

 

Shares of Forterra (Nasdaq: FRTA) fell for the fourth day.


The broader S&P 500 skidded 43 points to 2,357. Bitcoin surged $77 to $1770.


Google I/O begins

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The markets extended its losses during the midday with the Dow collapsing 268 points to 20,711. Nasdaq crumpled 106 points to 6,063.


The Google I/O annual developer's conference begins today at 10am Pacific Time with a keynote address by chief executive Sundar Pichai. The three day event is a forum for Google to promote its latest products and services. Expectations are high for updates to Google Home to better compete with industry leader Amazon Echo.


Qualcomm has filed a complaint against Apple contract manufacturers Foxconn Technology Group, Pegatron, Wistron and Compal Electronics for failing to pay royalties. Apple claimed that Qualcomm overcharged for their chips and sued the chipmaker in January. Qualcomm alleged that Apple has told its contract manufacturers to withhold royalty payments until the suit is settled.


A proposed $142 million settlement that Wells Fargo offered to customers affected by its fake accounts scandal may be in jeopardy. Questions about the settlement that were raised by a federal judge indicated a provision that prohibits customers from pursuing further claims against the bank may be rejected. Wells Fargo said that the settlement was an important step to rebuild trust with its customers.


The broader S&P 500 plummeted 28 points to 2,372. Bitcoin jumped $100 to $1793.


Concerns that President Donald Trump attempted to interfere in the FBI investigation into former National Security Adviser Michael Flynn sent the markets tumbling to a sharply lower open with the Dow plummeting 242 points to 20,736. Nasdaq plunged 81 points to 6,091.


On the upside


Cemtrex (Nasdaq: CETX) reported that it received a record of more than $21 million in new orders in April.


Red Robin Gourmet (Nasdaq: RRGB) reported better than expected results for the first quarter.


Second quarter earnings climbed for Jack in the Box (Nasdaq: JACK) to surpass expectations.


On the downside


Investors locked in profits on Baozun (Nasdaq: BZUN).


American Eagle Outfitters (NYSE: AEO) disappointed with lower first quarter earnings that missed expectations and forecast current quarter results below analyst estimates.

 

Profit taking weighed down shares of Advanced Micro Devices (Nasdaq: AMD).


The broader S&P 500 plunged 26 points to 2,373. Bitcoin leaped $102 to $1795.


The markets closed flat with the Dow slipping 2 points to 20,979 as crude oil prices retreated. Nasdaq gained 20 points to 6,169.


On the upside


TPG Capital acquired a 4.3% stake in ETSY (Nasdaq: ETSY) while Dragoneer Investment Group disclosed a 3.7% stake. The two activist investors urged the  online marketplace to explore strategic alternatives


Akebia Therapeutics (Nasdaq: AKBA) and Vifor Pharma Group entered an exclusive license agreement to sell vadadustat to Fresenius Medical Care dialysis clinics in the United States upon FDA approval.


Shares of Advanced Micro Devices (Nasdaq: AMD) rose ahead of its analyst meeting today.


On the downside


Virtusa (Nasdaq: VRTU) reported lower fourth quarter earnings that fell short of expectations.


Pernix Therapeutics (Nasdaq: PTX) widened first quarter losses as revenue fell.

 

NantKwest (Nasdaq: NK) appointed Leonard S. Sender, MD to the position of senior vice president of Medical Affairs for Pediatric, Adolescent and Young Adult Oncology.


The broader S&P 500 eased a point to 2,400. Bitcoin gained $9 to $1710.


Ford to cut 10% of workforce

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The markets traded flat with the Dow adding a point to 20,983. Nasdaq rose 11 points to 6,161.


As auto sales soften, Ford will cut approximately 10% of its salaried workforce in North America and Asia in an effort to improve profits and increase its stock price. Early retirement incentives will be offered to motivate workers to voluntarily leave the company. The job cuts are part of a comprehensive plan to slash expenses by $3 billion.


Delta Air Lines will test facial recognition technology at a self-service bag drop kiosk in the Minneapolis-St. Paul International Airport. Customers must first scan their passports before submitting to a facial scan that will verify their identity. The kiosk will allow passengers to check-in bags and pay fees without using a check-in agent.


Delphi has joined a collaborative that was formed a year ago by BMW, Intel and Mobileye to develop autonomous car technology. Delphi had demonstrated a self-driving Audi equipped with Delphi's systems and sensors at CES 2017 earlier this year that used image processing technology from Mobileye. The alliance expects to bring a self driving platform to production by 2021.


The broader S&P 500 eased a point to 2,400. Bitcoin climbed $30 to $1731.


The markets opened higher with the Dow gaining 41 points to 21,023 despite an unexpected drop in April housing starts. Nasdaq rose 9 points to 6,158.


On the upside


xG Technology (Nasdaq: XGTI) swung to a profit for the first quarter as revenue surged.


SINA (Nasdaq: SINA) reported sharply higher first quarter earnings and revenue.


First quarter earnings and revenue surged for Weibo (Nasdaq: WB).


On the downside


EnteroMedics (Nasdaq: ETRM) widened losses for the first quarter as revenue plunged.


Dick's Sporting Goods (NYSE: DKS) reported first quarter same store sales that fell short of expectations.

 

Kornit Digital (Nasdaq: KRNT) priced its secondary offering of 4.25 million common shares at the discounted price of $20.60 per share.


The broader S&P 500 added a point to 2,403. Bitcoin fell $3 to $1696.


Crude oil prices advance to lift the markets to a higher close with the Dow gaining 85 points to 20,981. Nasdaq climbed 28 points to 6,149.


On the upside


Shares of EnteroMedics (Nasdaq: ETRM) climbed ahead of its earnings release.


Trivago (Nasdaq: TRVG) reversed year ago losses to post a profit for the first quarter.


The Food and Drug Administration granted Breakthrough Therapy Designation to Ignyta's (Nasdaq: RXDX) entrectinib.


On the downside


TOP Ships (Nasdaq: TOPS) entered a Note Purchase Agreement with Xanthe Holdings.


Investors locked in profits on Verso (NYSE: VRS).

 

Eagle Pharmaceuticals (Nasdaq: EGRX) named Pete A. Meyers to the position of chief financial officer.


The broader S&P 500 climbed 10 points to 2,402. Bitcoin dropped $67 to $1673.


Nintendo to develop Zelda app

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The markets extended its gains during the midday with the Dow soaring 92 points to 20,989. Nasdaq climbed 27 points to 6,148.


Nintendo will be developing a Legend of Zelda game for smartphones. Originally reluctant to create games for devices, Nintendo ignored the mobile market until last year when it released the social networking app Miitomo. Nintendo's first mobile game, Super Mario Run, was released in December 2016 on iOS and March 2017 for Android.


Alphabet's driverless car unit Waymo entered a collaboration agreement with Lyft to bring autonomous vehicles to consumers. Neither Lyft nor Waymo provided details of the deal but expectations are for Lyft to test self-driving cars that use Waymo's technology. The two companies may also jointly develop products for autonomous cars.


Wells Fargo has been sued by Philadelphia for engaging in predatory lending practices. The city claims that Wells Fargo has been providing minority borrowers with more expensive and riskier loans than white customers even when they qualified for loans with lower costs. Philadelphia also alleges that Wells Fargo has a long history of "red-lining."


The broader S&P 500 climbed 11 points to 2,402. Bitcoin tumbled $67 to $1673.


Rising crude oil prices lifted the markets to a higher open with the Dow climbing 73 points to 20,970. Nasdaq gained 23 points to 6,144.


On the upside


Thermo Fisher will acquire Pantheon (NYSE: PTHN) in a transaction valued at approximately $7.2 billion including the assumption of debt.


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


Alnylam Pharmaceuticals (Nasdaq: ALNY) granted stock options to new appointed chief financial officer Manmeet S. Soni.


On the downside


Forterra (Nasdaq: FRTA) widened losses for the first quarter significantly.


Eldorado Gold (NYSE: EGO) will acquire Integra Gold.

 

Synchronoss Technologies (Nasdaq: SNCR) delayed filing its first quarter results.


The broader S&P 500 climbed 10 points to 2,401. Bitcoin dropped $37 to $1703.


The markets closed mixed with the Dow slipping 22 points to 20,896 as retailer results disappointed. Nasdaq rose 5 points to 6,121.


On the upside


Pingtan Marine Enterprise (Nasdaq: PME) signed a framework agreement to provide fish products to Shanghai City Supermarket and Shenzhen Honglicun Restaurant.


Finjan Holdings (Nasdaq: FNJN) provided a financial update for its record first quarter.


Bargain hunters lifted shares of Synergy Pharmaceuticals (Nasdaq: SGYP).


On the downside


Capricor Therapeutics (Nasdaq: CAPR) reported that interim analysis of data from the ALLSTAR Trial indicated a low probability of success.


Biocept (Nasdaq: BIOC) reported a loss for the first quarter.

 

Disappointing results among its competitors weighed down shares of Ascena Retail Group (Nasdaq: ASNA).


The broader S&P 500 slipped 3 points to 2,390. Bitcoin plunged $108 to $1694.


The markets traded mixed during the midday with the Dow losing 39 points to 20,880. Nasdaq added 2 points to 6,118.


Fiat Chrysler is recalling more than 1.25 million Ram pickup trucks to fix a software error that may lead to airbag and seatbelt failure during rollover crashes. One death and two injuries may have been caused by a problem in the coding. The recall affects model years 2013-2016 Ram 1500 and 2500 pickups and model years 2014-2016 Ram 3500 pickups.


Spotify plans to list directly on the New York Stock Exchange in late 2017 or early 2018 when it goes public. The decision to direct list will save the music streaming service from paying fees to investment banks that traditionally underwrite initial public offerings. The Swedish company is currently valued at approximately $13 billion.


A judge has ruled that Waymo's lawsuit against Uber for theft of trade secrets and patent infringement will move forward in court. Uber had argued that the case should go to private arbitration where neither the press and nor the public would be in attendance. The U.S. Attorney will decide whether or not to conduct a criminal investigation into Uber's actions.


The broader S&P 500 lost 5 points to 2,388. Bitcoin tumbled $53 to $1748.


Consumer sentiment rose in early May but the markets opened lower with the Dow losing 36 points to 20,883 as investors monitored earnings. Nasdaq slipped 8 points to 6,107.


On the upside


Trade Desk (Nasdaq: TTD) swung to a profit for the first quarter as revenue soared.


Technical Communications (Nasdaq: TCCO) reversed year ago losses to post a profit for the first quart.


Shares of Sangamo Therapeutics (Nasdaq: SGMO) extended its gains.


On the downside


Ardelyx (Nasdaq: ARDX) reported positive results from a Phase 3 T3MPO-1 trial of tenapanor to treat patients with irritable bowel syndrome with constipation but the stock price fell. 


CyberArk Software (Nasdaq: CYBR) reported higher first quarter earnings but the company forecast current quarter results below estimates.

 

J.C. Penney (NYSE: JCP) widened first quarter losses significantly.


The broader S&P 500 fell 6 points to 2,388. Bitcoin dropped $43 to $1759.


Producer prices rose more than expected in April to weigh the markets down to a lower close with the Dow losing 23 points to 20,919. Nasdaq fell 13 points to 6,115.


On the upside


Intrexon (NYSE: XON) narrowed first quarter losses as revenue climbed.


Real Industry (Nasdaq: RELY) reported higher first quarter revenue.


LivePerson (Nasdaq: LPSN) reported better than expected revenue for the first quarter.


On the downside


DryShips (Nasdaq: DRYS) widened first quarter losses significantly. 


Conatus Pharmaceuticals (Nasdaq: CNAT) priced its public offering of 5.2 million common shares at the discounted price of $5.50 per share.

 

ITUS (Nasdaq: ITUS) priced its public offering of 3.5 million common shares at the discounted price of $1.05 per share.


The broader S&P 500 lost 5 points to 2,394. Bitcoin soared $62 to $1790.


Verizon outbids AT&T

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The markets traded lower during the midday with the Dow falling 48 points to 20,894. Nasdaq dropped 26 points to 6,102.


Verizon topped AT&T's $95.63 per share bid for Straight Path Communications by offering $184 per share in stock to acquire the wireless spectrum holder. The offer price is approximately 17.8% below Straight Path's closing price yesterday but well above the price on April 7, which was the day before AT&T made its offer. Straight Path had accepted AT&T's acquisition offer but Verizon has agreed to pay a $38 million termination fee to its rival.


The Advocate General of the European Court of Justice issued an opinion that Uber should be classified as a transportation company rather than a digital service. The opinion is non-binding but if the European Court of Justice agrees, Uber will have to obtain appropriate licenses and abide by transportation regulations. The ride hailing service has consistently argued that it is a tech platform that provides a service to drivers and passengers rather than a transportation company.


Microsoft unveiled its Emma Watch that prevents the arm tremors that plague Parkinson's disease patients. The prototype "vibrates in a distinctive pattern to disrupt the feedback loop between the brain and the hand." The Emma Watch does not cure the neurological disease but it does help patients manage one of the symptoms.


The broader S&P 500 fell 9 points to 2,390. Bitcoin surged $100 to $1828


Disappointing earnings weighed the markets down to a sharply lower open with the Dow plummeting 127 points to 20,815. Nasdaq tumbled 49 points to 6,079.


On the upside


Sangamo Therapeutics (Nasdaq: SGMO) entered an exclusive, global collaboration and license agreement with Pfizer (NYSE: PFE) to develop and commercialize gene therapy programs for Hemophilia A.


Himax Technologies (Nasdaq: HIMX) reported sharply lower first quarter earnings but the stock price rose.


Walter Investment Management (NYSE: WAC) swung a profit for the first quarter.


On the downside


Snap (NYSE: SNAP) reported a massive $2.2 billion loss for the first quarter. 


Macy's (NYSE: M) disappointed with sharply lower first quarter earnings that fell far short of analyst expectations.

 

MannKind (Nasdaq: MNKD) reported a loss for the first quarter.


The broader S&P 500 dropped 15 points to 2,383. Bitcoin leaped $79 to $1808


The markets recovered earlier losses to close mixed with the Dow losing 32 points to 20,943 as investors assessed the impact of the unexpected firing of FBI director James Comey. Nasdaq rose 8 points to 6,129.


On the upside


Shares of MannKind (Nasdaq: MNKD) climbed ahead of its first quarter earnings release after market close today.


INC Research (Nasdaq: INCR) reported higher first quarter earnings and revenue that topped analyst expectations and lifted its full year forecast. The company also announced plans to merge with inVentiv Health in an all stock transaction


The Food and Drug Administration granted Breakthrough Therapy designation to Proteon Therapeutics (Nasdaq: PRTO) for its investigational drug vonapanitase. The company also narrowed first quarter losses more than expected.


On the downside


Aurelius Value alleged that Pingtan Marine Enterprise (Nasdaq: PME) has engaged in fraudulent and illegal activities. 


Vitamin Shoppe (NYSE: VSI) disappointed with lower first quarter earnings that missed expectations.

 

Aqua Metals (Nasdaq: AQMS) widened losses for the first quarter.


The broader S&P 500 added 2 points to 2,399. Bitcoin surged $55 to $1719.


The markets traded mixed during the midday with the Dow falling 51 points to 20,924. Nasdaq rose 6 points to 6,127.


Pre-orders for Tesla's solar roof tiles will be accepted beginning today. The tiles look like regular roof tiles but they generate electricity and are more durable. Four different styles of tiles will eventually be available but for now, only the black glass smooth and textured tiles can be pre-ordered.


Flights of the Boeing 737 Max jetliner have been temporarily suspended due to engine issues. The fuel efficient, long-range 737 Max 9 made its initial test flight on April 13, 2017. A manufacturing issue came to light just days before deliveries of the new model were to begin.


In a move that contradicts the temporary nature of Snaps, Snapchat introduced a new infinity feature. Users can now set the timers on their Snaps to infinity which will allow recipients to view the Snaps for as long as they would like. The Snap will disappear once it is closed.


The broader S&P 500 added a point to 2,398. Bitcoin soared $74 to $1737.


The abrupt firing of FBI director James Comey by President Donald Trump sent the markets down to a lower open with the Dow falling 66 points to 20,909. Nasdaq lost 12 points to 6,108.


On the upside


Medical Transcription Billing (Nasdaq: MTBC) widened first quarter losses but revenue soared.


Nvidia (Nasdaq: NVDA) impressed with sharply higher first quarter earnings that more than doubled to beat expectations by a wide margin.


Array BioPharma (Nasdaq: ARRY) reported positive results from Part 2 of the Phase 3 COLUMBUS study evaluating binimetinib and encorafenib in patients with BRAF-mutant advanced, unresectable or metastatic melanoma.


On the downside


First quarter revenue for Yelp (NYSE: YELP) fell short of expectations prompting the online review site to cut its full year revenue forecast. 


Fossil Group (Nasdaq: FOSL) fell to a greater than expected loss for the first quarter as revenue dropped and forecast current quarter results below estimates.

 

Rocket Fuel (Nasdaq: FUEL) widened losses for the first quarter as revenue fell.


The broader S&P 500 slipped 3 points to 2,393. Bitcoin soared $76 to $1739.


It was a mixed close for the markets with the Dow falling 36 points to 20,975 as crude oil prices slipped. Nasdaq gained 17 points to 6,120.


On the upside


Valeant Pharmaceuticals (NYSE: VRX) reversed year ago losses to post a stronger than expected profit for the first quarter and lifted its full year forecast.


Endo International (Nasdaq: ENDP) reported a smaller than expected loss for the first quarter.


First quarter losses for Teladoc (NYSE: TDOC) was smaller than expected.


On the downside


The Meet Group (Nasdaq: MEET) disappointed with sharply lower first quarter earnings. 


NxStage Medical (Nasdaq: NXTM) reported a loss for the first quarter and trimmed its revenue growth target for its Home market.

 

TravelCenters of America (Nasdaq: TA) widened first quarter losses significantly.


The broader S&P 500 slipped 2 points to 2,396. Bitcoin soared $92 to $1706.


Target tests next day delivery

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The markets traded lower during the midday with the Dow dropping 66 points to 20,946. Nasdaq rose 6 points to 6,108.


Target is testing a next day home delivery service in the neighborhoods surrounding its headquarters in Minneapolis. Orders for household items such as paper towels and coffee that are placed before 1:30pm will be delivered the next day. Target Restock will charge a low flat rate for deliveries up to 45 pounds.


Amazon introduced its new Echo Show digital assistant speaker that comes with a 7-inch color touch screen and a front facing, 5 megapixel camera. Users can view weather updates, look at pictures or watch shows from Prime Video. A new Drop In feature will allow users to visit friends and family who also have the Echo Show.


The latest limited edition Oreo is the Firework Oreo with rainbow colored sprinkles that pop mixed into the center frosting. Previous limited edition flavors have included the recent Peeps Oreos with bright pink frosting and Red Velvet Oreos with cream cheese flavored frosting sandwiched between two red colored cookies. Nabisco has launched an online contest with a $500,000 prize for consumers to create its next flavor.


The broader S&P 500 lost 6 points to 2,393. Bitcoin soared $94 to $1709.


The markets opened higher with the Dow rising 28 points to 21,040 even as wholesale inventories rose 0.2% in March. Nasdaq gained 28 points to 6,131.


On the upside


Investment holding company YSK1860 acquired the 416,249 shares of Cleantech Solutions International (Nasdaq: CLNT) that were previously held by Cleantech Solutions chief executive Xinhua Wu and his affiliates.


Wayfair (NYSE: W) reported a smaller than expected loss for the first quarter as revenue climbed.


Diplomat Pharmacy (NYSE: DPLO) reported a greater than expected profit for the first quarter.


On the downside


Hertz Global Holdings (NYSE: HTZ) widened first quarter losses more than expected as revenue slipped. 


Scynexis (Nasdaq: SCYX) reported a loss for the first quarter.

 

AmTrust Financial Services (Nasdaq: AFSI) disappointed with sharply lower first quarter earnings that fell short of expectations.


The broader S&P 500 rose 3 points to 2,403. Bitcoin soared $91 to $1705.


The markets recovered in late afternoon trading to close modestly higher with the Dow adding 5 points to 21,012 as crude oil prices rose. Nasdaq edged up a point to 6,102.


On the upside


Inpixon (Nasdaq: INPX) received a purchase order of approximately $2.5 million from a leading Fortune 500 health insurer to design and deploy a highly modernized infrastructure platform for the insurer's core commercial claims processing application.


Elliott Management acquired a 15.3% stake in Gigamon (NYSE: GIMO).


Kosmos Energy (NYSE: KOS) announced a major discovery of gas off the coast of Senegal.


On the downside


PTC Therapeutics (Nasdaq: PTCT) reported a loss for the first quarter and announced that its Duchenne muscular dystrophy treatment Emflaza will be priced at $35,000 per year, well below the $89,000 annual price that was announced by Marathon Pharmaceuticals which previously owned Emflaza.


Investors locked in profits on Workhorse Group (Nasdaq: WKHS).

 

Shares of Amplify Snack Brands (NYSE: BETR) fell ahead of its earnings release tomorrow.


The broader S&P 500held steady at 2,399. Bitcoin leaped $107 to $1620.


The markets traded lower during the midday with the Dow losing 8 points to 20,998. Nasdaq slipped 2 points to 6,098.


Cable companies Comcast and Charter partnered together to develop a wireless service business. While the companies will sell their branded wireless services independently, they will collaborate on back office operations such as customer billing. The agreement may also lead to the joint development of wireless technology in the future.


Bumble Bee Foods will pay a fine of $25 million for conspiring to fix the price of canned and pouch tuna. The Department of Justice accused Bumble Bee of price fixing beginning in early 2011 through the end of 2013. The seafood company will plead guilty to the charges and said that it will act with integrity and transparency going forward.


Comcast introduced its new Xfinity xFi app which will allow Xfinity customers to expand and monitor their wireless networks. Parents will be able to monitor which devices are connected to their home network and establish wifi access times for each device. The troubleshooting capabilities will allow customers to fix many of their own network problems while also improving the ability of Xfinity to resolve issues remotely.


The broader S&P 500 index eased a point to 2,397. Bitcoin surged $73 to $1586.


Disappointing earnings weighed the markets down to a lower open with the Dow falling 26 points to 20,980. Nasdaq lost 9 points to 6,091.


On the upside


Newell Brands (NYSE: NWL) impressed with sharply higher first quarter earnings that surpassed analyst expectations and lifted its full year earnings guidance.


Kate Spade & Co. (NYSE: KATE) will be acquired by Coach (NYSE: COH) for a premium of approximately $2.4 billion in cash.


JD.com (Nasdaq: JD) swung to an unexpected profit for the first quarter as revenue surged.


On the downside


Horizon Pharma (Nasdaq: HZNP) widened first quarter losses more than expected.


Kite Pharma (Nasdaq: KITE) widened losses for the first quarter more than expected.

 

Tyson Foods (NYSE: TSN) disappointed with lower second quarter earnings and revenue that fell short of expectations.


The broader S&P 500 index slipped 2 points to 2,396. Bitcoin leaped $60 to $1573.


The markets rebounded to close higher with the Dow gaining 55 points to 21,006 as the nation added a healthy 211,000 jobs in April. Nasdaq climbed 25 points to 6,100.


On the upside


Shares of Workhorse Group (Nasdaq: WKHS) extended its gains.


Applied Optoelectronics (Nasdaq: AAOI) reversed year ago losses to post a stronger than expected profit for the first quarter.


Kratos Defense & Security Solutions (Nasdaq: KTOS) narrowed first quarter losses more than expected.


On the downside


National CineMedia (Nasdaq: NCMI) widened first quarter losses as revenue fell.


Revlon (NYSE: REV) fell to a loss for the first quarter.

 

YRC Worldwide (Nasdaq: YRCW) widened first quarter losses more than expected.


The broader S&P 500 index gained 9 points to 2,399. Bitcoin slipped $5 to $1485.


The markets traded mixed during the midday with the Dow slipping 13 points to 20,938. Nasdaq rose 6 points to 6,082.


A Virginia woman who sued Johnson & Johnson over its talcum powder products was awarded a record $110.5 million. Lois Stemp claimed that using Johnson & Johnson's baby powder and Shower to Shower products for over 40 years caused her to develop ovarian cancer. The healthcare company disputed the allegations and said that it will appeal the decision.


The Department of Justice has initiated a criminal investigation into the use of Uber's ghost-app Greyball. Greyball is a software program that displays a fake version of an Uber map. Uber used Greyball to avoid detection by law enforcement officials in municipalities that did not allow the ride hailing service to operate.


Starbucks has been sued by a coffee shop in Brooklyn for infringing on its Unicorn Latte. The End Brooklyn created its drink in December 2016 and filed for a trademark on January 20. Starbucks sold its Unicorn Frappuccino for only one week in April. The End Brooklyn is demanding that Starbucks turn over all profits that were made on the Unicorn drink and pay for any losses incurred by the local cafe.


The broader S&P 500 index added 2 points to 2,392. Bitcoin climbed $23 to $1497.


The markets opened lower with the Dow losing 31 points to 20,919 despite an upbeat jobs report. Nasdaq slipped 2 points to 6,073.


On the upside


Immunomedics (Nasdaq: IMMU) terminated an exclusive global licensing agreement with Seattle Genetics and retained all rights to the metastatic triple negative breast cancer treatment IMMU-132.


Universal Display (Nasdaq: OLED) impressed with sharply higher first quarter earnings and revenue that surpassed expectations prompting the company to lift its full year forecast.


California Resources (NYSE: CRC) swung to a better than expected profit for the first quarter.


On the downside


Brightcove (Nasdaq: BCOV) widened losses more than expected for the first quarter.


Regulus Therapeutics (Nasdaq: RGLS) reported a wider than expected loss for the first quarter and announced the elimination of approximately 30% of its workforce.

 

Senior Vice President of Regulatory Affairs at Puma Biotechnology (NYSE: PBYI), Dr. Robert Charnas, resigned just before the Food and Drug Administration reviews the company's breast cancer treatment neratinib.


The broader S&P 500 index edged up a point to 2,390. Bitcoin soared $51 to $1525.


The markets closed flat with the Dow slipping 6 points to 20,951 as crude oil prices dropped. Nasdaq added 2 points to 6,075.


On the upside


FormFactor (Nasdaq: FORM) reversed year ago losses to post a better than expected profit for the first quarter.


OraSure Technologies (Nasdaq: OSUR) reported sharply higher first quarter earnings as revenue climbed.


Workhorse Group (Nasdaq: WKHS) introduced its prototype electric pickup truck W-15 designed for commercial fleets.


On the downside


Avon Products (NYSE: AVP) reported an unexpected loss for the first quarter even as revenue rose.


Entellus Medical (Nasdaq: ENTL) widened losses for the first quarter.

 

LSC Communications (NYSE: LKSD) fell to a loss for the first quarter.


The broader S&P 500 index added a point to 2,389. Bitcoin climbed $29 to $1473.


The markets extended its losses during the midday with the Dow falling 37 points to 20,920. Nasdaq slipped 4 points to 6,068.


In an effort to create jobs in the United States, Apple announced plans to invest $1 billion in a manufacturing fund. The manufacturing fund investment is in addition to a $1 billion investment in the SoftBank Vision Fund that was announced in January 2017. Apple will use the manufacturing fund to invest in a U.S. venture.


Starbucks expanded its rewards program to include Starbucks purchases made at grocery stores. Members can accumulate points by buying items such as packaged coffee, Via instant coffee, and ready to drink coffee. Rewards must still be redeemed at Starbucks locations.


Uber can continue developing its self driving cars while awaiting its day in court. A federal judge chose not to issue the injunction that Waymo had requested. Waymo had argued that Uber engaged in an elaborate scheme to recruit a former a Waymo engineer and cover up the theft of confidential technology.


The broader S&P 500 index slipped 2 points to 2,385. Bitcoin rocketed $98 to $1542.


The nation's productivity fell in the first quarter to weigh the markets down to a lower open with the Dow losing 17 points to 20,940. Nasdaq edged up a fraction to 6,073.


On the upside


Fitbit (NYSE: FIT) reported a smaller than expected loss for the first quarter.


Lumentum Holdings (Nasdaq: LITE) reported higher third quarter revenue.


Arrowhead Pharmaceuticals (Nasdaq: ARWR) narrowed second quarter losses significantly as revenue rose.


On the downside


Tuesday Morning (Nasdaq: TUES) widened losses for the third quarter.


First quarter earnings and revenue fell for Spirit Realty Capital (NYSE: SRC).

 

CommScope Holding (Nasdaq: COMM) reported first quarter earnings that fell short of expectations.


The broader S&P 500 index added a point to 2,389. Bitcoin leaped $80 to $1525.


Mixed close over earnings

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It was a mixed close for the markets with the Dow adding 8 points to 20,957 while Nasdaq fell 22 points to 6,072 as investors continued to digest earnings news.


On the upside


Myriad Genetics (Nasdaq: MYGN) reported better than expected results for the third quarter.


The Wall Street Journal reported that New Mountain Capital was engaged in advanced discussions to acquire VWR (Nasdaq: VWR).


Intersect ENT (Nasdaq: XENT) narrowed first quarter losses more than expected.


On the downside


Third quarter earnings for Lannett (NYSE: LCI) missed expectations.


Akamai Technologies (Nasdaq: AKAM) reported higher first quarter earnings and revenue but the cloud services provider forecast current quarter results below estimates.

 

Sprint (NYSE: S) disappointed with a greater than expected loss for the fourth quarter.


The broader S&P 500 index lost 3 points to 2,388. Bitcoin soared $41 to $1449.


The markets traded lower during the midday with the Dow losing 13 points to 20,936. Nasdaq fell 29 points to 6,066.


After recent videos that involved violence were posted or livestreamed on Facebook, the social network announced plans to hire an additional 3,000 people to review video postings. A father in Thailand live streamed himself killing his 11-month old daughter and a man in Cleveland live streamed the murder of a senior citizen. Facebook currently has 4,500 employees who respond to reports of inappropriate videos.


A federal court judge will decide today whether Uber must halt all work to develop autonomous vehicles until a trial decides the future Uber's self driving car project. Google parent Alphabet had sued Uber claiming that Uber stole trade secrets from Alphabet's Waymo driverless car unit. Uber has since demoted engineer Anthony Levandowski who formerly worked at Waymo and has been accused of stealing thousands of confidential files from Waymo.


Streaming service Hulu will now offer live streaming of television networks. For $39.99 per month, users can access live content from ABC, CBS, Fox, NBC as well as 50 additional channels. The network livestreams are available now in major city markets such as Los Angeles, New York, San Francisco and will slowly roll out in other area.


The broader S&P 500 index lost 5 points to 2,385. Bitcoin climbed $19 to $1427.


Lower open as demand softens

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Softening consumer demand for iPhones and cars weighed the markets down to a lower open with the Dow falling 43 points to 20,906. Nasdaq dropped 33 points to 6,062.


On the upside


Pieris Pharmaceuticals (Nasdaq: PIRS) entered a strategic collaboration with AstraZeneca (NYSE: AZN) to develop novel inhaled drugs that leverage Pieris' Anticalin platform.


FireEye (Nasdaq: FEYE) reported better than expected results for the first quarter.


First Solar (Nasdaq: FSLR) reported an unexpected profit for the first quarter as revenue rose.


On the downside


Twilio (NYSE: TWLO) reported a loss for the first quarter and forecast full year results that fell short of expectations.


Groupon (Nasdaq: GRPN) reported a loss for the first quarter as revenue fell to miss estimates.

 

Frontier Communications (Nasdaq: FTR) reported a wider than expected loss for the first quarter.


The broader S&P 500 index fell 6 points to 2,384. Bitcoin climbed $18 to $1426.


The markets closed higher with the Dow gaining 36 points to 20,949 on upbeat earnings. Nasdaq rose 3 points to 6,095.


On the upside


Molina Healthcare (NYSE: MOH) replaced chief executive officer Dr. J. Mario Molina and chief financial officer John C. Molina with chief accounting officer Joseph W. White assuming the duties of both positions.


Community Health Systems (NYSE: CYH) will sell two Texas hospitals to HCA (NYSE: HCA).


Pitney Bowes (NYSE: PBI) reported higher first quarter earnings.


On the downside


First quarter earnings for Medpace Holdings (Nasdaq: MEDP) fell short of expectations.


II-VI (Nasdaq: IIVI) reported higher third quarter earnings and revenue but the stock price plunged.

 

Shares of Aeterna Zentaris (Nasdaq: AEZS) extended its losses.


The broader S&P 500 index added 2 points to 2,391. Bitcoin gained $8 to $1402.


The markets traded mixed during the midday with the Dow gaining 18 points to 20,931 while Nasdaq slipped 2 points to 6,088.


Microsoft introduced its new Surface Laptop with a streamlined Windows 10 S operating system that is geared towards students and educators. Security features of Windows 10 S include a warning whenever a user tries to download an app that is not from the Windows Store. Prices for the new Surface Laptop begin at $999.


For the fourth month in a row, automobile sales have fallen. Ford Motor disappointed with a sharp 7.2% drop in April sales as car inventory climbed from 66 days supply in March to 72 days for April. Honda Motor experienced a 7.0% plunge in sales from last year. Sales tumbled 6.6% for Fiat Chrysler while General Motors sales fell 5.8%.


T-Mobile announced ambitious plans to build the first nationwide next generation 5G network by 2020. 5G aims to improve overall user experience with lightening fast connections and improved battery life for devices. T-Mobile also expects small connected sensors to relay information about the location of keys, kids, and other valuable objects.


The broader S&P 500 index eased a fraction to 2,387. Bitcoin climbed $31 to $1425.


The markets opened mixed with the Dow rising 7 points to 20,921 as the Federal Reserve's open market committee began. Nasdaq slipped 7 points to 6,084.


On the upside


IAC will pay a premium of approximately $500 million to acquire Angie's List (Nasdaq: ANGI).


Chegg (NYSE: CHGG) narrowed losses for the first quarter and forecast second quarter revenue ahead of estimates.


Tenet Healthcare (NYSE: THC) narrowed first quarter losses and announced plans to sell its acute care hospitals and related operations in Houston, Texas to HCA Holdings for approximately $725 million.


On the downside


AMD (Nasdaq: AMD) reported a loss for the first quarter.


Celadon Group (NYSE: CGI) warned of losses for the third quarter and signed a term sheet for a new $225 million revolving credit facility.

 

Lumber Liquidators (NYSE: LL) disappointed with a greater than expected loss for the first quarter.


The broader S&P 500 index eased a fraction to 2,387. Bitcoin climbed $31 to $1425.


The markets closed mixed with the Dow losing 27 points to 20,913 as factory activity slowed in April. Nasdaq climbed 44 points to 6,091.


On the upside


Ocwen Financial (NYSE: OCN) is working on a new proposed agreement with New Residential to convert New Residential's existing rights to mortgage servicing rights to fully owned mortgage service rights.


Shares of China Rapid Finance (NYSE: XRF) climbed on its second day of trading.


Alliance Resource Partners (Nasdaq: ARLP) reported sharply higher first quarter earnings on increased coal sales volumes.


On the downside


DryShips (Nasdaq: DRYS) entered an agreement to acquire one 82,129 DWT Kamsarmax drybulk carrier built in 2014.


Citigroup downgraded Wesco Aircraft Holdings (NYSE: WAIR) from a Buy rating to a Neutral rating.

 

William Blair downgraded 8x8 (Nasdaq: EGHT) from an Outperform rating to a Market Perform rating.


The broader S&P 500 index rose 4 points to 2,388. Bitcoin soared $72 to $1402.


The markets advanced during the midday with the Dow adding 2 points to 20,942. Nasdaq climbed 45 points to 6,092.


Tyson Foods will stop using antibiotics in their chicken by the end of the year. Many restaurant chains including Burger King, Chipotle, McDonald's, Panera and Wendy's have already transitioned to antibiotic free meat in response to customer demand. Tyson expects expenses to increase as the company implements different strategies to maintain a healthy flock of chickens but will not pass the higher costs onto customers.


After a dismal 2016, Target cut the compensation package of chief executive Brian Cornell. Target fell approximately $623 million short of its $5.74 billion 2016 incentive EBIT goal and missed its adjusted sales goal of $71.62 billion by $2.13 billion. Cornell received no bonus for 2016 and saw his cash and stock pay slashed by approximately one third to $11.3 million. 


In a Bloomberg News interview, President Donald Trump discussed a potential increase to the federal gas tax. The current federal gas tax is 18.4 cents per gallon of gasoline and 24.4 cents per gallon of diesel. The additional revenue would be used to pay for infrastructure projects.


In the broad market, advancing issues outpaced decliners by a margin of 7 to 5 on both the NYSE and on Nasdaq. The broader S&P 500 index climbed 7 points to 2,391. Bitcoin soared $54 to $1384.


The markets opened mixed with the Dow slipping 11 points to 20,928 as crude oil prices retreated. Nasdaq gained 19 points to 6,066.


On the upside


Medical Transcription Billing (Nasdaq: MTBC) successfully developed Health Information Exchange interfaces for interoperability between its clinical platforms and leading hospitals.


Twitter (NYSE: TWTR) partnered with Bloomberg to stream a new 24/7 live news service.


Cloudera (NYSE: CLDR) announced the general availability of the Cloudera Data Science Workbench, its self-service tool for data scientists.


On the downside


The Louisiana Office of Financial Institutions and the Federal Deposit Insurance Corp. closed First NBC Bank Holding (Nasdaq: FNBC).


The Food and Drug Administration requested additional information from Intra-Cellular Therapies (Nasdaq: ITCI) related to certain nonclinical animal toxicology findings of lumateperone.

 

Aeterna Zentaris (Nasdaq: AEZS) reported disappointing results from a ZoptEC Phase 3 clinical study of Zoptrex in women with locally advanced, recurrent or metatastic endometrial cancer.


In the broad market, advancing issues outpaced decliners by a margin of more than 10 to 9 on the NYSE and by nearly 5 to 4 on Nasdaq. The broader S&P 500 index added 2 points to 2,386. Bitcoin gained $14 to $1344.


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