August 2017 Archives

The markets opened flat with the Dow slipping 3 points to 21,671 ahead of President Donald Trump's announcement about Afghanistan tonight. Nasdaq held steady at 6,216.


On the upside


Herbalife (NYSE: HLF) will repurchase $600 million in common stock after negotiations to be taken private fell through.


Second quarter earnings surged for 58.com (NYSE: WUBA) as revenue climbed.


Great Wall Motor may make an offer to acquire Fiat Chrysler (NYSE: FCAU).

 

On the downside


Jefferies downgraded Nike (NYSE: NKE) from a Buy rating to a Hold rating.


Shares of Footlocker (NYSE: FL) extended its losses.

 

Infosys (NYSE: INFY) stock continued to fall.


In the broad market, declining issues outpaced advancers by a margin of more than 4 to 3 on the NYSE and by more than 5 to 3 on Nasdaq. The broader S&P 500 held steady at 2,425. Bitcoin tumbled $82 to $4010.


Disappointing earnings along with global terrorism concerns weighed the markets down to a lower close with the Dow tumbling 76 points to 21,674. Nasdaq lost 5 points to 6,216.


On the upside


Two of Tenet Healthcare's (NYSE: THC) board members who are partners at Glenview Capital Management resigned.


Sportsman's Warehouse (Nasdaq: SPWH) reported better than expected earnings for the second quarter.


Control4 (Nasdaq: CTRL) will replace Albany Molecular Research (Nasdaq: AMRI) on the S&P SmallCap 600 before market open on Tuesday, August 22.

 

On the downside


Stephens analyst Jack Atkins cited new competition concerns for downgrading Matson (NYSE: MATX) from an Overweight rating to an Equal Weight rating and slashing his price target from $36 to $23.


Shares of Babcock & Wilcox Enterprises (NYSE: BW) fell for the fourth day in a row.

 

Finish Line (Nasdaq: FINL) stock fell after competitor Foot Locker (NYSE: FL) disappointed with sharply lower earnings that missed expectations.


In the broad market, advancing issues outpaced decliners by a margin of nearly 9 to 8 on the NYSE while advancers barely edged out decliners by a slim margin on Nasdaq. The broader S&P 500 fell 4 points to 2,425. Bitcoin plummeted $316 to $4004.


The markets traded mixed during the midday with the Dow slipping 13 points to 21,736 as the work. Nasdaq rose 12 points to 6,234.


Philip Morris International has been accused by the Indian government of violating the country's antismoking laws. Officials sent the tobacco giant a letter threatening punitive action against the company and its directors. Philip Morris has allegedly engaged in illegal marketing tactics such as distributing Marlboro cigarettes for free at nightclubs and using television screens at events to promote its products.


Cities and states around the country are exploring the option of taxing streaming services such as Netflix and Hulu. As consumers increasingly abandon cable service and video rentals, municipalities have seen their revenue drop. Tech trade groups along with consumer tax groups have opposed the proposed tax.


A terrorist attack in Barcelona sent shares of European airlines and hotels tumbling. Tourism comprised more than 14% of Spain's economy last year and the country is one of the world's top three vacation destinations. Shares of Air France, Ryanair and Lufthansa all fell along with hotel stocks InterContinental and Melia Hotels.


In the broad market, advancing issues outpaced decliners by a margin of more than 4 to 3 on the NYSE and by nearly 6 to 5 on Nasdaq. The broader S&P 500 added 2 points to 2,432. Bitcoin plummeted $245 to $4074.


A stabbing in Finland weighed the markets down to a lower open with the Dow losing 26 points to 21,724 as the work. Nasdaq added a point to 6,222.


On the upside


Energy Capital Partners and a consortium of investors will acquire Calpine (NYSE: CPN) for a premium of approximately $5.6 billion in cash.


Ross Stores (Nasdaq: ROST) reported higher second quarter earnings and revenue that topped estimates.


The Gap (NYSE: GPS) reported sharply higher second quarter earnings that beat expectations and lifted its full year earnings outlook.

 

On the downside


Foot Locker (NYSE: FL) disappointed with sharply lower second quarter earnings that fell short of expectations.


Infosys (NYSE: INFY) chief executive Vishal Sikka resigns.

 

Deere & Co. (NYSE: DE) reported third quarter earnings that missed estimates.


In the broad market, declining issues outpaced advancers by a margin of 7 to 3 on the NYSE and by more than 5 to 2 on Nasdaq. The broader S&P 500 lost 3 points to 2,427. Bitcoin dropped $49 to $4270.


A terrorist attack in Barcelona sent the markets plummeting to close sharply lower with the Dow collapsing 274 points to 21,750. Nasdaq cratered 123 points to 6,221.


On the upside


Telsey Advisory Group upgraded Zoe's Kitchen (NYSE: ZOES) from a Market Perform rating to an Outperform rating.


Shares of Horizon Pharma (Nasdaq: HZNP) climbed on news that the implementation of certain regulations related to drug prices will be delayed.


U.S. Silica Holdings (NYSE: SLCA) paid $95.4 million in cash to acquire Mississippi Sand.

 

On the downside


Vipshop Holdings (NYSE: VIPS) reported lower earnings for the second quarter.


Acadia Healthcare (Nasdaq: ACHC) announced a secondary offering of more than 2.8 million shares of common stock.

 

Financial Engines (Nasdaq: FNGN) announced a secondary offering of approximately 4.1 million common shares.


In the broad market, declining issues outpaced advancers by a margin of 9 to 2 on the NYSE and by nearly 4 to 1 on Nasdaq. The broader S&P 500 plummeted 38 points to 2,430. Bitcoin slipped $5 to $4321.


The markets extended its losses during the midday with the Dow plunging 180 points to 21,844. Nasdaq plummeted 81 points to 6,263.


Ford Motor has voluntarily agreed to settle sexual and racial harassment allegations without admitting liability. The U.S. Equal Employment Opportunity Commission investigated claims and found evidence that workers at Ford's Chicago Assembly Plant and the Chicago Stamping Plant harassed female and black employees. The automaker will pay $10.1 million to settle the allegations.


A New York appeals court sided with Uber Technologies in a lawsuit that challenged the ride sharing service's arbitration clause in its user agreement. The plaintiff sued Uber for antitrust violations when the service engaged in surge pricing. Uber appealed the lower court ruling that sided with the plaintiff by arguing that when users register for their service, users relinquish their right to sue and agree to arbitration.


EpiPen maker Mylan will pay $465 million to settle charges that the company overcharged Medicaid. Mylan competitor Sanofi filed a suit against the pharmaceutical for falsely claiming that EpiPens purchased by Medicaid were generic products. The deception allowed Mylan to avoid paying rebates to Medicaid.


In the broad market, declining issues outpaced advancers by a margin of nearly 3 to 1 on both the NYSE and on Nasdaq. The broader S&P 500 plunged 24 points to 2,443. Bitcoin plummeted $72 to $4254.


First time applications for unemployment benefits fell but the markets opened lower with the Dow falling 40 points to 21,984 over concerns of moderate inflation. Nasdaq dropped 22 points to 6,322.


On the upside


Valeant Pharmaceuticals International (NYSE: VRX) has been working to resolve issues at its Bausch & Lomb manufacturing facility in Tampa, Florida and will receive a Voluntary Action Indicated classification from the Food and Drug Administration.


Alibaba (NYSE: BABA) reported sharply higher first quarter earnings and revenue that surpassed analyst expectations.


Gold Fields (NYSE: GFI) reported sharply lower earnings for the first half of the year but will pay a dividend of 40 cents per share.

 

On the downside


L Brands (NYSE: LB) reported lower second quarter earnings and revenue and forecast current quarter results below estimates.


GAIN Capital Holdings (NYSE: GCAP) priced its offering of $80 million in convertible senior notes.

 

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


In the broad market, declining issues outpaced advancers 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 fell 6 points to 2,462. Bitcoin soared $127 to $4455.


Minutes from the Federal Reserve's meeting last month indicated that interest rate hikes may be halted. The markets closed higher with the Dow gaining 25 points to 22,024. Nasdaq rose 12 points to 6,345.


On the upside


Phoenix New Media (NYSE: FENG) reversed year ago losses to post a stronger than expected profit for the second quarter.


Bargain hunters lifted shares of Eros International (NYSE: EROS).


Rising gold prices lifted shares of Hudbay Minerals (NYSE: HBM), McEwen Mining (NYSE: MUX) and Yamana Gold (NYSE: AUY).

 

On the downside


Babcock & Wilcox Enterprises (NYSE: CBI) extended its losses.


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

 

H&E Equipment Services (Nasdaq: HEES) will not submit a revised proposal to acquire Neff (NYSE: NEFF).


In the broad market, advancing issues outpaced decliners by a margin of more than 3 to 2 on the NYSE and by more than 6 to 5 on Nasdaq. The broader S&P 500 rose 3 points to 2,468. Bitcoin surged $198 to $4326.


The markets opened higher with the Dow gaining 33 points to 22,031 ahead of the release of minutes from the Federal Reserve's July policy meeting. Nasdaq rose 15 points to 6,348.


On the upside


Urban Outfitters (Nasdaq: URBN) reported better than expected sales and revenue for the second quarter.


First Manhattan acquired shares of Freeport-McMoRan (NYSE: FCX).


Cliffs Natural Resources (NYSE: CLF) has changed its name back to Cleveland-Cliffs.

 

On the downside


Jefferies downgraded Chicago Bridge & Iron (NYSE: CBI) from a Buy rating to a Hold rating and slashed its price target from $35 to $12.


Investors locked in profits on Hertz Global (NYSE: HTZ).

 

Viavi Solutions (Nasdaq: VIAV) reported sharply revenue for the fourth quarter.


In the broad market, advancing issues outpaced decliners by a margin of more than 7 to 3 on the NYSE and by nearly 7 to 3 on Nasdaq. The broader S&P 500 rose 4 points to 2,468. Bitcoin lost $6 to $4121.


The markets closed flat with the Dow rising 5 points to 21,998 after North Korea appeared to delay its missile attack on Guam. Nasdaq lost 7 points to 6,333.


On the upside


Jana Partners acquired a 2% stake in Blue Apron (NYSE: APRN).


Calumet Specialty Products Partners (Nasdaq: CLMT) will sell its Superior, Wisconsin refinery and various related assets to Husky Superior Refining Holding.


Deutsche Bank upgraded Wynn Resorts (Nasdaq: WYNN) from a Hold rating to a Buy rating and raised its price target from $138 to $150.

 

On the downside


Photronics (Nasdaq: PLAB) disappointed with sharply lower third quarter earnings that missed expectations and forecast current quarter revenue below estimates.


Bridgepoint Education (NYSE: BPI) announced a secondary offering of approximately 2 million shares of common stock.

 

Sportsman's Warehouse (Nasdaq: SPWH) will open its ninth location in California in Stockton but the stock price fell.


In the broad market, declining issues outpaced advancers by a margin of more than 5 to 3 on the NYSE and by more than 2 to 1 on Nasdaq. The broader S&P 500 slipped a point to 2,464. Bitcoin plummeted $253 to $4032.


The markets traded flat during the midday with the Dow adding 3 points to 21,997. Nasdaq edged up a fraction to 6,341.


Amazon opened Instant Pickup sites near five college campuses where shoppers can pickup items within minutes of ordering online. A limited list of several hundred items such as snacks and drinks are available at each Instant Pickup site. Instant Pickup launched in California in Berkeley and Los Angeles as well as in Atlanta, Georgia; Columbus, Ohio; and College Park, Maryland. 


Mazda has recalled approximately 80,000 vehicles to replace faulty front passenger air bag inflators. The dangerous inflators deteriorate over time and can explode with so much force that passengers and drivers have been hurt. Vehicles impacted by the recall are model years 2007 through 2009 and 2012 CX-7, CX-9 and Mazda 6.


A district judge has ordered Costco to pay $19.4 million to Tiffany & Co. for selling counterfeit Tiffany engagement rings. The luxury jeweler alleged that Costco has been selling "Tiffany" rings for years that were not made by Tiffany. The membership warehouse claims that they used "Tiffany" to refer to a specific pronged setting style of a diamond ring and not a Tiffany & Co. branded ring.


In the broad market, declining issues outpaced advancers by a margin of more than 9 to 5 on the NYSE and by nearly 2 to 1 on Nasdaq. The broader S&P 500 held steady at 2,465. Bitcoin plunged $215 to $4070.


July import and export prices edged up to lift the markets to a higher open with the Dow gaining 36 points to 22,029. Nasdaq rose 10 points to 6,350.


On the upside


Extreme Networks (Nasdaq: EXTR) reported higher fourth quarter earnings and revenue.


Goldman Sachs upgraded GoPro (Nasdaq: GPRO) from a Sell rating to a Neutral rating.


Pandora Media (NYSE: P) named Dish Network executive Roger Lynch to the position of chief executive officer.

 

On the downside


Advance Auto Parts (NYSE: AAP) disappointed with lower second quarter earnings that fell short of analyst expectations.


Second quarter earnings for Dick's Sporting Goods (NYSE: DKS) missed expectations and the retailer forecast cut its full year forecast.

 

Coach (NYSE: COH) reported lower fourth quarter revenue that fell short of expectations and forecast fiscal 2018 results below estimates.


In the broad market, declining issues outpaced advancers by a margin of more than 2 to 1 on the NYSE and by more than 9 to 5 on Nasdaq. The broader S&P 500 added 3 points to 2,468. Bitcoin plummeted $404 to $3881.


The markets soared to close sharply higher with the Dow surging 135 points to 21,993 as tensions with North Korea eased. Nasdaq jumped 83 points to 6,340.


On the upside


Neff (NYSE: NEFF) received a superior acquisition proposal from a strategic bidder and has notified H&E Equipment Services.


Tesco (Nasdaq: TESO) will be acquired by Nabors Industries (NYSE: NBR) in an all stock transaction valued at approximately $215 million.


Shares of Sangamo Therapeutics  (Nasdaq: SGMO) continued to rise.

 

On the downside


Shares of Herbalife (NYSE: HLF) and Nu Skin Enterprises (NYSE: NUS) fell on news that Chinese authorities plan to crack down on multilevel marketing companies.


SORL Auto Parts (Nasdaq: SORL) disappointed with second quarter earnings that fell short of expectations.

 

Zynerba Pharmaceuticals (Nasdaq: ZYNE) reported disappointing results from a Phase 2 STOP clinical trial of ZYN002.


In the broad market, advancing issues outpaced decliners by a margin of nearly 7 to 2 on both the NYSE and on Nasdaq. The broader S&P 500 soared 24 points to 2,465. Bitcoin leaped $150 to $4259.


The markets extended its gains during the midday with the Dow leaping 144 points to 22,002. Nasdaq surged 80 points to 6,337.


To rescue its ailing grocery business, Target has added two veterans to its executive team. Target named former Wal-Mart senior director of private brands, deli and bakery Mark Kenny to the position of vice president of meat and fresh prepared food. The retailer also announced the appointment of former General Mills baking division president Liz Noodle to the position of vice president of product design and development for food and beverage.


Aldi has partnered with Instacart to begin delivering groceries to customers in three cities in the U.S. at the end of the month. Shoppers will be able to order groceries from the German grocery store chain through Instacart's website and app. Customers in Atlanta, Dallas and Los Angeles may receive their orders within an hour.


Facebook is expanding its Marketplace service to 17 new countries in Europe. Marketplace brings together local buyers and sellers to facilitate the sale of second-hand goods. Neither the buyer nor the seller pays fees for posting on the service or searching listings on the service.


In the broad market, advancing issues outpaced decliners by a margin of more than 7 to 2 on the NYSE and by nearly 7 to 2 on Nasdaq. The broader S&P 500 soared 24 points to 2,465. Bitcoin jumped $167 to $4276.


Easing tensions with North Korea boosted the markets to a sharply higher open with the Dow soaring 87 points to 21,945. Nasdaq climbed 50 points to 6,306.


On the upside


Fiat Chrysler (NYSE: FCAU) rejected a buyout offer from a Chinese automaker saying that the offer was too low.


Shares of Micron Technology (Nasdaq: MU) extended its gains.


Bargain hunters snapped up shares of Nvidia (Nasdaq: NVDA).

 

On the downside


JD.com (Nasdaq: JD) widened losses for the second quarter.


Shares of Carvana (NYSE: CVNA) continued to fall.

 

Investors locked in profits on Community Health Systems (NYSE: CYH).


In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 1 on the NYSE and by nearly 7 to 2 on Nasdaq. The broader S&P 500 climbed 13 points to 2,454. Bitcoin leaped $139 to $4248.


Mild inflation lifts markets

|

Mild inflation sparked optimism that interest rate increases would rise more slowly. The markets closed higher with the Dow rising 14 points to 21,858. Nasdaq gained 39 points to 6,256.


On the upside


Shares of Community Health Systems (NYSE: CYH) surged again on no news.


Bargain hunters lifted shares of Forterra (Nasdaq: FRTA).


Aegean Marine Petroleum Network (NYSE: ANW) reported better than expected earnings for the second quarter.

 

On the downside


Luxoft Holding (NYSE: LXFT) disappointed with sharply lower first quarter earnings that missed expectations.


Black Box (Nasdaq: BBOX) widened losses for the first quarter and suspended its dividend.

 

Shares of YogaWorks (Nasdaq: YOGA) fell on its first trading day.


In the broad market, advancing issues outpaced decliners by a margin of more than 9 to 8 on both the NYSE and on Nasdaq. The broader S&P 500 added 3 points to 2,441. Bitcoin soared $151 to $3582.


Higher open as CPI edges up

|

The markets opened higher with the Dow gaining 39 points to 21,883 as the consumer price index edged up 0.1% in July. Nasdaq rose 6 points to 6,222.


On the upside


Bargain hunters lifted shares of Babcock & Wilcox Enterprises (NYSE: BW).


The Trade Desk (Nasdaq: TTD) reported sharply higher second quarter earnings and revenue.


Shares of Synergy Pharmaceuticals (Nasdaq: SGYP) continued to climb.

 

On the downside


J.C. Penney (NYSE: JCP) widened losses more than expected.


Snap (NYSE: SNAP) widened second quarter losses more than expected.

 

Nvidia (Nasdaq: NVDA) reported sharply higher second quarter earnings and revenue but the stock price fell.


In the broad market, declining issues outpaced advancers by a margin of nearly 9 to 8 on the NYSE while advancers edged out decliners by more than 4 to 3 on Nasdaq. The broader S&P 500 plummeted 35 points to 2,438. Bitcoin climbed $462 to $3412.


President Donald Trump's aggressive rhetoric on North Korea sent the markets plunging to close sharply lower with the Dow collapsing 204 points to 21,844. Nasdaq plummeted 135 points to 6,216.


On the upside


Planet Fitness (NYSE: PLNT) reported higher second quarter earnings and revenue that beat expectations and lifted its full year forecast.


Sangamo Therapeutics (Nasdaq: SGMO) narrowed second quarter losses more than expected as revenue surged.


Second quarter earnings soared for SSR Mining (Nasdaq: SSRM).

 

On the downside


Babcock & Wilcox Enterprises (NYSE: BW) widened losses for the second quarter as revenue fell.


Forterra (Nasdaq: FRTA) fell to a loss for the second quarter.

 

Synacor (Nasdaq: SYNC) widened losses for the second quarter.


In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 1 on the NYSE and by a margin of nearly 4 to 1 on Nasdaq. The broader S&P 500 plummeted 35 points to 2,438. Bitcoin climbed $462 to $3412.


Facebook launches Watch

|

The markets extended its losses during the midday with the Dow plummeting 128 points to 21,920. Nasdaq plunged 100 points to 6,252.


Facebook launched its new Watch tab to a select group of users to preview before expanding nationwide. Watch offers a wide range of shows from live sports to reality TV to documentaries. Users will be able to join a live comment reel while watching an episode.


Consumer Reports has withdrawn its "recommended" label from four Microsoft Surface laptops due to reliability issues. Annual surveys revealed that approximately 25% of Microsoft's laptops and tablets experienced problems that caused the devices to freeze or shutdown within two years.


Dunkin' Donuts has been sued for intentionally misleading consumers about their blueberry products. While the coffee chain's blueberry muffins include blueberries on the ingredient list, blueberries are not listed among the ingredients for glazed blueberry doughnuts, blueberry butternut doughnuts, blueberry crumb cake doughnuts. The plaintiff claims that consumers choose blueberry products for the many health benefits that blueberries offer.


In the broad market, declining issues outpaced advancers by a margin of more than 5 to 1 on the NYSE and by a margin of more than 7 to 2 on Nasdaq. The broader S&P 500 plunged 24 points to 2,449. Bitcoin gained $23 to $2973.


Escalating tensions with North Korea sends markets down to lower open with the Dow dropping 60 points to 21,988. Nasdaq tumbled 39 points to 6,312.


On the upside


Perrigo (NYSE: PRGO) reported better than expected results for the second quarter and lifted its full year earnings forecast.


Galapagos (Nasdaq: GLPG) reported positive data from a FLORA Phase 2a trial of its autotoxin inhibitor GLPG1690 in patients with idiopathic pulmonary fibrosis.


Live Nation Entertainment (NYSE: LYV) reported higher second quarter earnings and revenue that beat expectations.

 

On the downside


Chicago Bridge & Iron (NYSE: CBI) fell to an unexpected loss for the second quarter as revenue plunged and suspended its dividend.


Blue Apron (NYSE: APRN) reported a wider than expected loss in its first quarterly report as a publicly traded company.

 

Synergy Pharmaceuticals (Nasdaq: SGYP) widened losses for the second quarter.


In the broad market, declining issues outpaced advancers by a margin of more than 9 to 2 on the NYSE and by a margin of nearly 7 to 2 on Nasdaq. The broader S&P 500 fell 9 points to 2,465. Bitcoin climbed $36 to $2986.


The market closed lower with the Dow losing 37 points to 22,047 despite a gain in second quarter productivity as concerns about North Korea mounted. Nasdaq fell 18 points to 6,352.


On the upside


Second quarter revenue more than doubled for Silver Springs Network (NYSE: SSNI).


Bargain hunters snapped up shares of Zynerba Pharmaceuticals (Nasdaq: ZYNE).


Omeros (Nasdaq: OMER) reported sharply higher revenue for the second quarter.

 

On the downside


Wesco Aircraft (NYSE: WAIR) fell to a loss for the third quarter as revenue fell.


Office Depot (Nasdaq: ODP) reported lower second quarter earnings that missed analyst expectations.

 

Maiden Holdings (Nasdaq: MHLD) fell to a loss for the second quarter.


In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 3 on the NYSE and by a margin of more than 5 to 2 on Nasdaq. The broader S&P 500 held steady at 2,474. Bitcoin plummeted $46 to $2938.


The markets extended its losses during the midday with the Dow dropping 73 points to 22,011. Nasdaq fell 33 points to 6,336.


Kraft Heinz partnered with Oprah Winfrey to create an "O, That's Good" branded line of refrigerated soups and side dishes. Winfrey helped develop the recipes for healthy comfort foods such as mashed potatoes with cauliflower and creamy parmesan pasta with white bean puree. The products will be available beginning this week with an ad campaign launching on October 2.


General Electric will close a manufacturing plant in Rochester, New York and move the work to a supplier. Approximately 90 employees who assemble electronic boards will lose their jobs while 55 sales, technology and technical services workers will move to another building. GE supplier Jabil is based in Florida but a facility in China will be used to assemble the electronic boards.


Mazda introduced its new compression-ignition technology that improves the efficiency of traditional combustion engines by 20% to 30%. The new Skyactiv-X technology will be incorporated into vehicles in 2019. The automaker expects emissions from its vehicles to plunge by 50% from 2010 levels by 2030.


In the broad market, declining issues outpaced advancers by a margin of nearly 3 to 1 on both the NYSE and on Nasdaq. The broader S&P 500 lost 6 points to 2,468. Bitcoin tumbled $54 to $2930.


Escalating tensions with North Korea sent the markets tumbling to a lower open with the Dow falling 63 points to 22,022 . Nasdaq dropped 48 points to 6,322.


On the upside


Achillion Pharmaceuticals (Nasdaq: ACHN) reported a second quarter loss that was inline with expectations and achieved proof of concept for ACH-4471.


Hertz Global Holdings (NYSE: HTZ) widened losses for the second quarter but the car rental company reported increasing revenue per day for the current quarter.


Acadia Pharmaceuticals (Nasdaq: ACAD) narrowed second quarter losses more than expected.

 

On the downside


Vitamin Shoppe (NYSE: VSI) fell to a loss for the second quarter.


Surgery Partners (Nasdaq: SGRY) fell to a second quarter loss as revenue slipped.

 

Fossil Group (Nasdaq: FOSL) fell to a loss for the second quarter and announced the resignation of chief financial officer Dennis R. Secor.


In the broad market, declining issues outpaced advancers by a margin of more than 7 to 3 on the NYSE and by a margin of nearly 7 to 3 on Nasdaq. The broader S&P 500 fell 9 points to 2,465. Bitcoin plunged $67 to $2918.


The markets closed lower with the Dow losing 33 points to 22,085 after President Donald Trump threatened North Korea. Nasdaq fell 13 points to 6,370.


On the upside


Kopin (Nasdaq: KOPN) reported higher second quarter revenue.


Esperion Therapeutics (Nasdaq: ESPR) provided updates for its bempedoic acid franchise development program and expected to submit two New Drug Applications in the first quarter of 2019.


Second quarter revenue surged for Lending Club (NYSE: LC) to top analyst estimates.

 

On the downside


Atkore International Group (NYSE: ATKR) disappointed with third quarter earnings and revenue that fell short of expectations.


Robert W. Baird downgraded Plains GP Holdings (NYSE: PAGP) from an Outperform rating to a Neutral rating and slashed it price target from $36.00 to $23.00.

 

Second quarter earnings tumbled for Commercial Vehicle Group (Nasdaq: CVGI).


In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 3 on the NYSE and by a margin of nearly 3 to 2 on Nasdaq. The broader S&P 500 fell 5 points to 2,474. Bitcoin leaped $40 to $2993.


Spotify now available on Xbox One

|

The markets traded higher during the midday with the Dow adding 11 points to 22,130. Nasdaq gained 18 points to 6,401.


Music streaming service Spotify will now be available on Xbox One. Users can download the Spotify app through the Xbox Store in 34 markets around the world. Spotify has already been available on rival gaming platform PlayStation 4 for two years.


Narrated book service Audible partnered with dog whisperer Cesar Milan to is create a new Audible for Dogs. The Amazon owned company is positioning the new service as a means to calm dogs and ease separation anxiety when owners go to work. A study from the United Kingdom revealed that animals who listened to audiobooks experienced a reduction in stress compared with listening to music.


McDonald's plans to expand the number of its locations in China from 2,500 to 4,500 over the next five years. The fast food giant will offer delivery services at 75% of its stores. McDonald's just sold an 80% stake of its China business to several investor groups.


In the broad market, declining issues outpaced advancers by a margin of more than 9 to 8 on the NYSE and by nearly 9 to 8 on Nasdaq. The broader S&P 500 added a point to 2,482. Bitcoin gained $12 to $2965.


Lower open as crude oil slips

|

The opened lower with the Dow losing 23 points to 22,095 as crude oil prices slipped. Nasdaq fell 10 points to 6,373.


On the upside


Michael Kors (NYSE: KORS) reported better than expected earnings and revenue for the first quarter.


FibroGen (Nasdaq: FGEN) reported positive results from a Phase 2 study of pamrevlumab in patients with idiopathic pulmonary fibrosis


Valeant Pharmaceuticals (NYSE: VRX) narrowed losses for the second quarter.

 

On the downside


DepoMed (Nasdaq: DEPO) widened losses for the second quarter as revenue fell and lowered its full year forecast.


Second quarter earnings plunged for Dean Foods (NYSE: DF).

 

Plains All American Pipeline (NYSE: PAA) reported second quarter earnings and revenue that missed expectations.


In the broad market, advancing issues outpaced decliners by a margin of nearly 4 to 3 on the NYSE and by a margin of 5 to 4 on Nasdaq. The broader S&P 500 slipped 2 points to 2,478. Bitcoin rose $9 to $2963.


The Dow set another record close by gaining 25 points to 22,118. Nasdaq climbed 32 points to 6,383.


On the upside


On Deck Capital (NYSE: ONDK) expanded its collaboration agreement with JPMorgan Chase.


ValuEngine upgraded Bitauto Holdings (NYSE: BITA) from a Sell rating to a Holding rating..


Morgan Stanley upgraded GrubHub (NYSE: GRUB) from an Equal Weight rating to an Overweight rating.

 

On the downside


Armstrong Flooring (NYSE: AFI) disappointed with lower second quarter earnings and revenue that fell short of expectations.


Morgan Stanley analyst David Risinger said that Teva Pharmaceutical (NYSE: TEVA) could drop another 16%.

 

Zhonghong Zhuoye no longer has the financing to acquire Brookdale Senior Living (NYSE: BKD).


In the broad market, declining issues outpaced advancers by a margin of nearly 9 to 8 on the NYSE while advancers barely edged out decliners by a slim margin on Nasdaq. The broader S&P 500 rose 4 points to 2,480. Bitcoin soared $43 to $2949.


GM recalls 790,000 vehicles

|

The markets traded higher during the midday with the Dow rising 19 points to 22,112. Nasdaq climbed 28 points to 6,380.


General Motors must recall 790,000 vehicles to fix a problem with the power steering. Certain model year 2014 Chevrolet Silverados and GMC Sierra pickup trucks can suddenly lose power steering when the vehicle uses a lot of electrical power. The recall includes vehicles in the United States and Canada.


Netflix has acquired comic book publisher Millarworld that was founded by former Marvel creator Mark Millar. Millarworld owns properties such as Kingsman, Kick-Ass and Wanted. As a part of Netflix, Millar will create movies, TV shows, children's programs and other content that are based on the Millarworld properties.


Little Caesars introduced its Pizza Portal heated, self-service mobile order pick-up station in various locations throughout Tucson, Arizona. Customers use the Little Caesars mobile app to order and pay for their order. When the order is ready, customers will be notified through the app.


In the broad market, declining issues outpaced advancers by a margin of nearly 9 to 8 on the NYSE while advancers edged out decliners by more than 9 to 8 on Nasdaq. The broader S&P 500 added 2 points to 2,479. Bitcoin climbed $34 to $2939.


The markets opened higher with the Dow rising 8 points to 22,100 as crude oil prices slipped. Nasdaq gained 10 points to 6,361.


On the upside


Apple (Nasdaq: AAPL) may pay up to $1 billion to acquire the film and music library of Eros International (NYSE: EROS) parent company Eros Group.


MyoKardia (Nasdaq: MYOK) reported positive results from a midstage clinical trial of its mavacamten to treat an inherited form of heart disease.


NxStage Medical (Nasdaq: NXTM) will be acquired by Fresenius Medical Care for approximately $2 billion.

 

On the downside


Zynerba Pharma (Nasdaq: ZYNE) reported disappointing results from a midstage clinical trial of a cannabidiol gel to treat adult epilepsy with focal seizures.


UBS analyst John Roberts downgraded Intrepid Potash (NYSE: IPI) from a Neutral rating to a Sell rating.

 

Applied Optoelectronics (NYSE: ATW) fell to a loss for the third quarter as revenue plunged.


In the broad market, declining issues outpaced advancers by a margin of more than 4 to 3 on the NYSE and by more than 9 to 8 on Nasdaq. The broader S&P 500 added a point to 2,477. Bitcoin surged $61 to $2966.


It was another record close for the Dow with the blue chip index climbing 66 points to 22,092 as more jobs than expected were created in July. Nasdaq rose 11 points to 6,351.


On the upside


Second quarter earnings and revenue surged for Arista Networks (NYSE: ANET) to top analyst estimates prompting an upgrade.


Boing Wireless (Nasdaq: WIFI) reported higher second quarter revenue that beat expectations and lifted its full year revenue forecast.


GoPro (Nasdaq: GPRO) reported a smaller than expected loss for the second quarter.

 

On the downside


Natural Grocers by Vitamin Cottage (NYSE: NGVC) disappointed with sharply lower third quarter earnings.


Electronics for Imaging (Nasdaq: EFFI) cited a review of its accounting practices for delaying the release of its second quarter results.

 

Applied Optoelectronics (Nasdaq: AAOI) reported impressive results for the second quarter but the company forecast current quarter revenue that missed expectations.


In the broad market, advancing issues outpaced decliners by a margin of nearly 4 to 3 on the NYSE and by more than 4 to 3 on Nasdaq. The broader S&P 500 rose 4 points to 2,476. Bitcoin climbed $24 to $2690.


The markets advanced during the midday with the Dow gaining 37 points to 22,063. Nasdaq added 4 points to 6,344.


Toyota partnered with Mazda to build a $1.6 billion manufacturing facility in the United States with the capacity to produce 300,000 vehicles each year. Toyota plans to assemble Corollas at the plant while Mazda will build new crossover vehicles. The Japanese automakers have not identified a site for the plant.


Wells Fargo will pay the U.S. government $108 million to settle a lawsuit over loans to veterans. The government has alleged that the bank overcharged veterans under a Veterans Administration refinancing program then hid their behavior from the government. Wells Fargo has denied the allegations and said that it was settling the claims in order to move forward.


Uber rented nearly 1,200 recalled Honda Vezel sport utility vehicles to its drivers in Singapore. The SUVs had defective electrical parts that could catch on fire. Uber claims that all faulty parts have now been repaired but Singapore's Land Transport Authority said that according to their records, only 9% of Uber's Vezels have been fixed.


In the broad market, advancing issues outpaced decliners by a margin of more than 9 to 8 on the NYSE and by more than 4 to 3 on Nasdaq. The broader S&P 500 added 3 points to 2,475. Bitcoin gained $27 to $2693.


Higher open on strong jobs report

|

A strong jobs report lifted the markets to a higher open with the Dow gaining 32 points to 22,058. Nasdaq rose 10 points to 6,350.


On the upside


Yelp (NYSE: YELP) reported higher second quarter earnings that topped analyst estimates and announced the sale of Eat24 to Grubhub for $287.5 million in cash.


Second quarter earnings and revenue climbed for Weight Watchers International (NYSE: WTW) to beat expectations prompting the company to lift its full year forecast.


Allscripts Healthcare Solutions (Nasdaq: MDRX) reported a loss for the second quarter but revenue rose and the company lifted its full year revenue  forecast.

 

On the downside


Viacom (Nasdaq: VIAB) reported higher second quarter earnings but warned of lower sales in the U.S. for the current quarter.


Credit Suisse downgraded Teva Pharmaceutical (NYSE: TEVA) from an Outperform rating to a Neutral rating and slashed it price target from $39.00 to $25.00.

 

trivago (Nasdaq: TRVG) reported a loss for the second quarter.


In the broad market, advancing issues outpaced decliners by a margin of nearly 4 to 3 on the NYSE and by more than 4 to 3 on Nasdaq. The broader S&P 500 rose 4 points to 2,476. Bitcoin climbed $32 to $2698


The markets closed mixed with the Dow adding 9 points to 22,026 as the nation's services sector expanded more slowly in July. Nasdaq fell 22 points to 6,340.


On the upside


SolarEdge Technologies (Nasdaq: SEDG) reported second quarter earnings that beat analyst expectations.


Second quarter earnings rose for OraSure Technologies (Nasdaq: OSUR) as revenue climbed.


Ubiquiti Networks (Nasdaq: UBNT) reported higher fourth quarter earnings and revenue that surpassed expectations.

 

On the downside


Windstream Holdings (Nasdaq: WIN) fell to a loss for the second quarter and cancelled its quarterly dividend.


Agile Therapeutics (Nasdaq: AGRX) priced its public offering of approximately 5.33 million common shares at the discounted price of $3.75 per share.

 

CPI Card Group (Nasdaq: PMTS) widened losses for the second quarter as revenue fell and cut its full year forecast.


In the broad market, declining issues outpaced advancers by a margin of nearly 4 to 3 on the NYSE and by nearly 3 to 2 on Nasdaq. The broader S&P 500 lost 5 points to 2,472. Bitcoin leaped $62 to $2670.


Lawsuit against Alibaba dropped

|

The markets traded mixed during the midday with the Dow adding 6 points to 22,022 while Nasdaq lost 18 points to 6,344.


A lawsuit alleging that Alibaba encourages the sale of counterfeit products on its e-commerce platforms has been dropped. Luxury brands group Kering will create a joint task force with Alibaba and Alipay to take appropriate action against counterfeiters. Gucci, Bottega Veneta, Yves St. Laurent and Alexander McQueen are all part of Kerning.


The European Commission has been investigating Visa for the interregional interchange fees that it charges merchants. Merchants in the European Economic Area (EEA) are charged a fee when customers pay with a Visa that was issued outside of the EEA. Visa has two months to respond to the charge sheet that was issued by the Commission.


The Labor Department reported that first time applications for unemployment benefits fell by 5,000 last week to a seasonally adjusted 240,000, which is just below the expected 242,000. Jobless claims have now remained below the healthy labor market threshold of 300,000 for 126 weeks in a row. The nation's unemployment rate is at 4.4%.


In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 4 on the NYSE and by 4 to 3 on Nasdaq. The broader S&P 500 fell 5 points to 2,471. Bitcoin soared $43 to $2651.


The markets opened mixed with the Dow slipping 9 points to 22,007 as investors continued to monitor earnings. Nasdaq rose 4 points to 6,366.


On the upside


Tesla (Nasdaq: TSLA) reported a smaller than expected loss for the second quarter as revenue surged and announced that 455,000 customers have preordered the Tesla Model 3.


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


Second quarter earnings more than doubled for Stamps.com (Nasdaq: STMP) as revenue climbed.

 

On the downside


Teva Pharmaceutical (NYSE: TEVA) disappointed with sharply lower second quarter earnings that missed expectations prompting the generic drug maker to cut its full year forecast.


Century Aluminum (Nasdaq: CENX) reported a smaller than expected profit for the second quarter.

 

Aerohive Networks (NYSE: HIVE) reported a loss for the second quarter.


In the broad market, advancing issues barely edged out decliners by a slim margin on the NYSE while decliners outpaced advancers by nearly 9 to 8 on Nasdaq. The broader S&P 500 eased a point to 2,476. Bitcoin soared $35 to 

Dow closes above 22,000

|

The Dow closed above the 22,000 mark for the very first time by gaining 52 points to 22,016 on upbeat earnings news. Nasdaq held steady at 6,362.


On the upside


Spark Therapeutics (Nasdaq: ONCE) submitted a Marketing Authorization Application to the European Medicines Agency for LUXTURNA.


Illumina (Nasdaq: ILMN) reported higher second quarter earnings and revenue that surpassed expectations.


Intrepid Potash (NYSE: IPI) narrowed losses for the second quarter.

 

On the downside


Unisys (NYSE: UIS) fell to a loss for the second quarter as revenue dropped.


Radisys (Nasdaq: RSYS) widened second quarter losses, warned of losses for the third quarter and cut its full year revenue guidance.

 

Third quarter earnings and revenue surged for Coherent (Nasdaq: COHR) but the results missed expectations.


In the broad market, declining issues outpaced advancers by a margin of more than 3 to 2 on the NYSE and by more than 7 to 3 on Nasdaq. The broader S&P 500 added a point to 2,477. Bitcoin tumbled $32 to $2602.


178,000 jobs added in July

|

The markets traded mixed during the midday with the Dow rising 28 points to 21,991. Nasdaq fell 30 points to 6,332.


ADP said that private employers added 178,000 jobs in July with midsize companies hiring the most workers. Small businesses added 50,000 jobs while midsize companies added 83,000 and large companies hired 45,000 people. Economists had expected ADP to report a gain of 190,000 jobs.


Liquid glitter iPhone cases made by MixBin have been recalled due to possible skin irritation or chemical burns. More than 263,000 cases for the iPhone 6, 6S and 7 that were sold by Amazon, Victoria's Secret and other retailers are affected by the recall. Irritation can occur if the case breaks and the liquid touches the user's skin. 


A shareholder lawsuit filed against Express Scripts was dismissed by a federal judge. Plaintiffs alleged that the pharmacy benefits manager downplayed its extremely contentious relationship with its largest customer, Anthem, in order to boost its stock price. U.S. District Judge Edgardo Ramos said that shareholders failed to demonstrate intent to defraud on the part of Express Scripts


In the broad market, declining issues outpaced advancers by a margin of more than 5 to 3 on the NYSE and by nearly 3 to 1 on Nasdaq. The broader S&P 500 lost 5 points to 2,470. Bitcoin dropped $17 to $2618.


Apple's impressive results lifted the markets to a higher open with the Dow gaining 40 points to 22,004. Nasdaq edged up to 6,363.


On the upside


Apple (Nasdaq: AAPL) impressed with higher third quarter earnings and revenue that beat analyst expectations.


PharMerica (NYSE: PMC) will be acquired by KKR in an all cash deal valued at approximately $1.4 billion including the assumption of debt.


Spirit AeroSystems (NYSE: SPR) and Boeing (NYSE: BA) reached a tentative pricing agreement.

 

On the downside


AMC Entertainment (NYSE: AMC) warned of a greater than expected loss for the second quarter.


Flotek Industries (NYSE: FTK) widened losses for the second quarter.

 

MACOM Technology Solutions (Nasdaq: MTSI) fell to a loss for the third quarter.


In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 3 on the NYSE and by nearly 7 to 2 on Nasdaq. The broader S&P 500 rose 4 points to 2,480. Bitcoin dropped $17 to $2620.


Higher close on strong earnings

|

The markets closed higher with the Dow gaining 72 points to 21,963 on strong corporate earnings. Nasdaq climbed 14 points to 6,362.


On the upside


Sprint (NYSE: S) reversed year ago losses to post a profit for the first quarter.


Shopify (NYSE: SHOP) reported a smaller than expected loss for the second quarter as revenue soared.


Second quarter earnings and revenue surged for Horizon Global (NYSE: HZN) to beat expectations prompting the company to lift its full year earnings outlook.

 

On the downside


Sequans Communications (NYSE: SQNS) widened losses for the second quarter.


Kona Grill (Nasdaq: KONA) widened second quarter losses more than expected.

 

Sabre (Nasdaq: SABR) fell to a loss for the second quarter and announced that it will eliminate approximately 900 jobs.


In the broad market, advancing issues outpaced decliners by a margin of more than 4 to 3 on the NYSE and by nearly 9 to 8 on Nasdaq. The broader S&P 500 rose 6 points to 2,476. Bitcoin plunged $56 to $2636.


Auto sales drop in July

|

The markets traded higher during the midday with the Dow soaring 93 points to 21,984. Nasdaq rose 8 points to 6,356.


Auto sales in July are expected to drop as carmakers cut sales to rental fleets. General Motors reported a sharp 15% decline in July sales to 226,107 vehicles while Ford sales fell 7.5% to 200,212 vehicles. Toyota bucked the trend with a 4% gain in sales to 222,057 vehicles.


Apple has removed virtual private network apps from its China App Store in response to new regulations in China. In order to operate in China, VPN developers must now apply for and receive a government license. VPNs allow users to access websites that may be blocked by the government.


To gain European Commission approval for its $66 billion acquisition of Monsanto, Bayer has offered concessions to allay competition concerns. The deadline for the European Commission to complete its review of the deal has been extended by two weeks to August 22. Bayer offered the concessions in order to avoid an in depth and lengthy review of the merger deal. 


In the broad market, advancing issues outpaced decliners by a margin of more than 4 to 3 on the NYSE while decliners edged out advancers by nearly 9 to 8 on Nasdaq. The broader S&P 500 rose 7 points to 2,475. Bitcoin plunged $88 to $2605.


An uptick in consumer spending lifted the markets to a higher open with the Dow climbing 71 points to 21,961. Nasdaq gained 24 points to 6,372.


On the upside


Lumber Liquidators (NYSE: LL) swung to an unexpected profit for the second quarter as revenue rose.


International Game Technology (NYSE: IGT) fell to a loss for the second  quarter but the company declared a quarterly dividend of 20 cents per share payable on August 24, 2017 to shareholders of record August 11, 2017.


Cognex (Nasdaq: CGNX) impressed with higher second quarter earnings and revenue that beat expectations.

 

On the downside


Pitney Bowes (NYSE: PBI) disappointed with lower second quarter earnings and revenue that fell short of expectations.


Under Armor (NYSE: UA) will cut approximately 280 jobs and cut its full year forecast.

 

Geron (Nasdaq: GERN) updated development plans for Merge and IMbark.


In the broad market, advancing issues outpaced decliners by a margin of more than 4 to 3 on the NYSE while decliners edged out advancers by nearly 9 to 8 on Nasdaq. The broader S&P 500 gained 7 points to 2,477. Bitcoin tumbled $60 to $2632.


About this Archive

This page is an archive of entries from August 2017 listed from newest to oldest.

July 2017 is the previous archive.

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

Powered by Movable Type 5.12