September 2017 Archives

The markets closed flat with the Dow slipping 9 points to 22,349 as North Korean leader Kim Jong Un and President Donald Trump continued to trade insults. Nasdaq rose 4 points to 6,426.


On the upside


Credit Suisse analyst Alethia Young lifted her price target on Ascendis Pharma (Nasdaq: ASND) from $30.00 to $50.00.


Marinus Pharmaceuticals (Nasdaq: MRNS) will present at the Cantor Fitzgerald Global Healthcare Conference on Wednesday, September 27, 2017.


Bargain hunters lifted shares of L Brands (NYSE: LB).

 

On the downside


Compass Minerals International's (NYSE: CMP) Goodrich, Ontario rock salt mine is operating at reduced rates.


Versartis (Nasdaq: VSAR) reported disappointing results from a VELOCITY Phase 3 clinical trial of somavaratan to treat pediatric growth hormone deficiency.

 

Secoo Holding (Nasdaq: SECO) priced its public offering of 8.5 million American depositary shares at the discounted price of $13.00 per share.


In the broad market, advancing issues outpaced advancers by a margin of nearly 2 to 1 on the NYSE and by nearly 9 to 8 on Nasdaq. The broader S&P 500 added a point to 2,502. Bitcoin dropped $49 to $3,605.


Uber loses license to operate in London

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The markets traded lower during the midday with the Dow losing 28 points to 22,330. Nasdaq slipped 2 points to 6,420.


Uber's license to operate in London was not renewed by the capital of England's taxi regulator agency, Transport for London. The ride hailing app will appeal the decision but continue to provide service to its 3.5 million users in the interim. Transport for London cited Uber's approach to reporting criminal offenses, obtaining of medical certificates and checking driver backgrounds as reasons for denying the license renewal.


Hewlett Packard Enterprises will eliminate approximately 10% of its global workforce by the end of the year as part of its plans to lower expenses. The company will shutter underperforming units and direct its resources to its cloud computing services. HPE is transforming itself from a servers and storage provider to an enterprise cloud company.


After a disappointing quarter, Time said that it was exploring the potential sale of certain assets. The publisher of People, Sports Illustrated and Time may sell Time Customer Service and other businesses that represent nearly 17% of its total annual revenue. Magazine circulation and advertising revenue both tumbled 12% in the second quarter.


In the broad market, advancing issues outpaced advancers by a margin of more than 5 to 3 on the NYSE and by more than 3 to 2 on Nasdaq. The broader S&P 500 held steady at 2,500. Bitcoin tumbled $67 to $3,586.


North Korea's threat to test a nuclear missile rattled investors sending the markets down to a lower open with the Dow losing 25 points to 22,334. Nasdaq fell 21 points to 6,401.


On the upside


Juno Therapeutics (Nasdaq: JUNO) priced its public offering of 6.1 million common shares at the discounted price of $41.00 per share.


CarMax (NYSE: KMX) reported higher second quarter earnings and revenue that topped analyst estimates.


Sprint (NYSE: S) and T-Mobile (Nasdaq: TMUS) are close to finalizing a deal to merge.

 

On the downside


Leerink Partners downgraded Exelixis (Nasdaq: EXEL) from an Outperform rating to a Market Perform rating and slashed its price target from $34.00 to $28.00.


Concerns about weakness in the steel industry weighed down shares of U.S. Steel (NYSE: X).

 

Analysts expect BlackBerry's (Nasdaq: BBRY) revenue to fall in 2018.


In the broad market, advancing issues outpaced advancers by a margin of nearly 2 to 1 on the NYSE and by nearly 9 to 8 on Nasdaq. The broader S&P 500 slipped 3 points to 2,497. Bitcoin tumbled $84 to $3,570.


SEC cyber breach weighs down stocks

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A cyber breach of the Securities and Exchange Commission's computer system weighed the markets down to a lower close with the Dow falling 53 points to 22,359. Nasdaq dropped 33 points to 6,422.


On the upside


IBC2017 awarded a NewBay Best of Show Award to the artificial intelligence solution to aiWARE for Xcellis from Veritone (Nasdaq: VERI) and Quantum (NYSE: QTM).


Zacks Investment Research upgraded Kindred Healthcare (NYSE: KND) from a Sell rating to a Hold rating.


Third Point Reinsurance (NYSE: TPRE) will be added to the S&P SmallCap 600 before market open on Tuesday, September 26, 2017.

 

On the downside


The Food and Drug Administration warned that Intercept Pharmaceuticals' (Nasdaq: ICPT) Ocalivia may cause liver damage and possible death.


Juno Therapeutics (Nasdaq: JUNO) announced a follow-on public offering of $225 million of its common stock.

 

Investors locked in profits on Atwood Oceanics (NYSE: ATW).


In the broad market, declining issues outpaced advancers by a margin of 4 to 3 on the NYSE and by 5 to 4 on Nasdaq. The broader S&P 500 fell 7 points to 2,500. Bitcoin crashed $286 to $3,652.


The markets traded lower during the midday with the Dow losing 35 points to 22,377. Nasdaq fell 14 points to 6,441.


The European Commission is exploring the possibility of updating its corporate tax code in order to increase tax revenue from online firms. Digital companies such as Facebook and Google avoid paying taxes in most European countries by rerouting their profits to jurisdictions with low tax rates such as Ireland. Some options being considered are taxes on online ads or a withholding tax on payments to online multinational firms.


CVS announced plans to tackle the opioid epidemic that caused approximately 64,000 drug overdose deaths last year. Prescriptions for opioids will be limited to seven days for new patients while funding for addiction programs will be increased. Pharmacists at the drug store chain's locations will call doctors if they notice prescriptions that seem too strong to treat a patient's condition.


Google is expanding its smartphone hardware business with a $1.1 billion acquisition of HTC's phone design and engineering division. HTC makes Google's Pixel smartphone, which accounts for less than one percent of the world's smartphone market share. The acquisition includes a non-exclusive license for HTC's intellectual property but does not include any manufacturing assets.


In the broad market, declining issues outpaced advancers by margin of nearly 6 o 5 on the NYSE while advancers barely edged out decliners by a slim margin on Nasdaq. The broader S&P 500 fell 4 points to 2,503. Bitcoin collapsed $236 to $3,702.


Flat open over potential rate hike

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A potential rate hike kept investor enthusiasm in check. The markets opened flat with the Dow adding 2 points to 22,414 while Nasdaq lost 8 points to 6,448.


On the upside


Anadarko Petroleum (NYSE: APC) will repurchase up to $2.5 billion worth of stock.


The Food and Drug Administration granted orphan drug designation to Amicus Therapeutics' (Nasdaq: FOLD) ATB200/AT2221.


Calgon Carbon (NYSE: CCC) will be acquired by Kuraray for a premium of approximately $1.1 billion in cash.

 

On the downside


Nvidia (Nasdaq: NVDA) client Tesla (Nasdaq: TSLA) will work with Advanced Micro Devices (Nasdaq: AMD) to develop an artificial intelligence chip for autonomous cars.


Chevron (NYSE: CVX) terminated a drilling contract with Transocean (NYSE: RIG) for the ultra-deepwater drillship Discoverer Clear Leader.

 

Acceleron Pharma (Nasdaq: XLRN) priced its public offering of more than 5.4 million shares of common stock at the discounted price of $37.00 per share.


In the broad market, advancing issues barely edged out decliners by a slim margin on the NYSE while decliners outpaced advancers by 5 to 4 on Nasdaq. The broader S&P 500 eased a point to 2,507. Bitcoin plunged $73 to $3,864.


Mixed close over potential rate hike

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The Federal Reserve held interest rates steady but indicated that there would be at least one rate increase by the end of the year. The markets closed mixed with the Dow gaining 41 points to 22,412 while Nasdaq slipped 5 points to 6,456.


On the upside


Shares of Argentinian online travel company Despegar (NYSE: DESP) surged in its market debut.


The stock price of biopharmaceutical Zai Lab (Nasdaq: ZLAB) leaped on its first trading day.


Arbutus Biopharma's (Nasdaq: ABUS) licensee Alnylam Pharmaceuticals (Nasdaq: ALNY) reported upbeat APOLLO Phase 3 study results of patisiran, which is enabled by Arbutus's lipid nanoparticle technology.

 

On the downside


Maxwell Technologies (Nasdaq: MXWL) will offer $50 million in convertible senior notes.


Iovance Biotherapeutics (Nasdaq: IOVA) will offer $50 million of its common stock through a public offering.

 

Nabriva Therapeutics (Nasdaq: NBRV) priced its public offering of more than 9.4 million common shares at the discounted price of $8.50 per share.


In the broad market, advancing issues outpaced decliners by a margin of 5 to 4 on the NYSE and by nearly 4 to 3 on Nasdaq. The broader S&P 500 added a point to 2,508. Bitcoin climbed $65 to $3,961.


Pfizer sues Johnson & Johnson

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The markets traded lower during the midday with the Dow slipping 5 points to 22,365. Nasdaq dropped 26 points to 6,434.


Pfizer has sued Johnson & Johnson for engaging in anticompetitive practices over J&J's rheumatoid arthritis and Crohn's disease treatment Remicade. Pfizer alleged that J&J forced insurers to sign contracts giving preference to Remicade over Pfizer's Inflectra and threatened to withhold rebates if Inflectra was deemed an acceptable alternative to Remicade. Pfizer asserted that the actions of J&J created a monopoly for Remicade.


UPS plans to hire approximately 95,000 employees for the holiday shopping season. The package delivery service works closely with retailers in order to properly staff its locations as daily average volume surges from a normal of 19 million packages to more than 30 million packages. Nearly 35% of the seasonal employees will transition into full time employees.


Toshiba ended weeks of speculation about the future of its semiconductor business. The world's second largest producer of NAND memory chips will be sold to an investment group led by Bain Capital for approximately $18 billion. Toshiba's joint venture partner Western Digital,which was also bidding for the chip business, may sue to block the deal.


In the broad market, advancing issues outpaced decliners by a margin of nearly 6 to 5 on both the NYSE and on Nasdaq. The broader S&P 500 lost 4 points to 2,502. Bitcoin soared $93 to $3,989.


The markets opened lower with the Dow slipping 19 points to 22,351 as existing home sales fell 1.7% in August. Nasdaq eased 2 points to 6,459.


On the upside


Alnylam Pharmaceuticals (Nasdaq: ALNY) reported positive results from the APOLLO Phase 3 study of patisiran in hereditary ATTR amyloidosis with polyneuropathy.


Facts Reporter issued an investor research report on International Game Technology (NYSE: IGT) noting that the company had a consensus recommendation rating of 2.2 on a scale from 1 to 5 with 1 being a Strong Buy and 5 being a Strong Sell.


Analysts expect USG (NYSE: USG) to report quarterly sales of $803.29 million.

 

On the downside


Bed Bath & Beyond (Nasdaq: BBBY) disappointed with sharply lower second quarter earnings that fell far short of analyst expectations.


First quarter earnings and revenue missed expectations for General Mills (NYSE: GIS).

 

Western Digital (Nasdaq: WDC) lost its bid to buy Toshiba's semiconductor business.


In the broad market, advancing issues outpaced decliners by a margin of 3 to 2 on the NYSE and by more than 4 to 3 on Nasdaq. The broader S&P 500 held steady at 2,506. Bitcoin gained $30 to $3,927.


The markets closed higher with the Dow gaining 39 points to 22,370 as investors await the Federal Reserve's concluding statement. Nasdaq rose 6 points to 6,46.


On the upside


Shares of Veritone (Nasdaq: VERI) climbed for the fourth day.


President Donald Trump may ease restrictions on gun sales to foreign buyers which sent shares of Sturm, Ruger & Co. (NYSE: RGR) soaring.


Rumors swirled that Chicago Bridge & Iron (NYSE: CBI) may be acquired.

 

On the downside


Siris Capital Group ended its efforts to acquire Synchronoss Technologies (Nasdaq: SNCR).


Supernus Pharmaceuticals (Nasdaq: SUPN) has eliminated a lower dose option of its Phase 3 clinical trial of SPN-810 to treat impulsive aggression in patients aged 6 to 12 years who have attention deficit hyperactivity disorder.

 

MediWound (Nasdaq: MDWD) priced its public offering of 4.4 million common shares at the discounted price of $5.00 per share.


In the broad market, advancing issues outpaced decliners by a margin of nearly 6 to 5 on the NYSE while advancers barely edged out decliners by a slim margin on Nasdaq. The broader S&P 500 added 2 points to 2,506. Bitcoin plummeted $177 to $3,890.


Toys R Us files for bankruptcy

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The markets advanced during the midday with the Dow gaining 44 points to 22,376. Nasdaq rose 6 points to 6,460.


Toys R Us became the latest retailer to file for Chapter 11 bankruptcy protection. After struggling for years to compete against Amazon and discount chains, the largest toy store chain in the U.S. plans to invest $90 million to overhaul its online presence. Toys R Us will also close an unspecified number of stores and convert remaining locations into interactive spaces for product demonstrations and parties.


Fiat Chrysler Automobiles will recall approximately 494,000 pickup trucks due to a potential fire hazard. Model year 2013-2017 Ram 2500 and 3500 pickup trucks that were sold worldwide have defective water pumps that may overheat and possibly start a fire. No injuries have been reported but there have been some fire related incidents.


The Commerce Department reported a 0.8% slip in housing starts last month to a seasonally adjusted annual rate of 1.18 million units. Construction of single family homes climbed while multifamily units fell. However, building permits soared 5.7% to a rate of 1.30 million units.


In the broad market, advancing issues outpaced decliners by a margin of nearly 6 to 5 on both the NYSE and on Nasdaq. The broader S&P 500 added 2 points to 2,506. Bitcoin tumbled $67 to $4,000.


Higher open as Fed meets

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The markets opened modestly higher with the Dow rising 18 points to 22,349 as the Federal Reserve begins its two day policy meeting. Nasdaq gained 11 points to 6,465.


On the upside


Kohl's (NYSE: KSS) will accept returned items that were purchased through Amazon (Nasdaq: AMZN) at 82 locations in Los Angeles and Chicago beginning in October.


Sprint (NYSE: S) offered to trade customers an iPhone 8 for an iPhone 7, Samsung Galaxy S8 or Samsung Note 8.


Jimmy Choo shareholders have approved the $1.2 billion acquisition offer from Michael Kors (NYSE: KORS).

 

On the downside


Best Buy (NYSE: BBY) will webcast an updated Best Buy 2020: Building the New Blue growth strategy this afternoon.


The Federal Trade Commission approved revised deal for Walgreens (NYSE: WBA) to acquire 1,932 Rite Aid (NYSE: RAD) stores, three distribution centers  plus inventory for approximately $4.375 billion in cash.

 

Envision Healthcare (NYSE: EVHC) will repurchase up to $250 million in company stock.


In the broad market, advancing issues outpaced decliners by a margin of nearly 6 to 5 on both the NYSE and on Nasdaq. The broader S&P 500 added 3 points to 2,506. Bitcoin tumbled $69 to $3,998.


It was a higher close for the markets with the Dow gaining 63 points to 22,331 a day before the Federal Reserve's policy meeting. Nasdaq rose 6 points to 6,454.


On the upside


Itron (Nasdaq: ITRI) will pay a premium of approximately $830 million in cash to acquire Silver Spring Networks (NYSE: SSNI).


Nabriva Therapeutics (Nasdaq: NBRV) reported positive results from a Phase 3 of lefamulin in patients with community-acquired bacterial pneumonia.


Dimension Therapeutics (Nasdaq: DMTX) received an unsolicited acquisition offer from Ultragenyx Pharmaceutical (Nasdaq: RARE) for a premium of approximately $138 million.

 

On the downside


Aaron's (NYSE: AAN) entered oversold territory.


Profit taking weighed down shares of Pier 1 Imports (NYSE: PIR).

 

Shares of KEYW Holding (Nasdaq: KEYW) fell for the fourth day.


In the broad market, advancing issues outpaced decliners by a margin of nearly 4 to 3 on the NYSE and by more than 3 to 2 on Nasdaq. The broader S&P 500 added 3 points to 2,503. Bitcoin surged $312 to $4,003.


Higher open ahead of Fed meeting

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The markets opened higher with the Dow rising 29 points to 22,297 ahead of the Federal Reserve's policy meeting this week. Nasdaq gained 12 points to 6,460.


On the upside


Northrop Grumman will pay a premium of approximately $7.8 billion in cash to acquire Orbital ATK (NYSE: OA).


Meritor (NYSE: MTOR) will sell its stake in the Meritor WABCO joint venture to WABCO Holdings (NYSE: WBC).


Shares of CF Industries (NYSE: CF) rose for the fourth day.

 

On the downside


Shares of Ubiquiti Networks (Nasdaq: UBNT) extended its losses.


Seagate Technology (Nasdaq: STX) entered a strategic cooperation agreement with Baidu (Nasdaq: BIDU).

 

Kinross Gold (NYSE: KGC) will begin Phase Two of the expansion of its Tasiast mine in Mauritania at an initial cost of $590 million.


In the broad market, advancing issues outpaced decliners 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 added 2 points to 2,502. Bitcoin leaped $397 to $4,088.


The markets closed higher with the Dow climbing 64 points to 22,268 as President Donald Trump and Democrats worked together on an immigration deal. Nasdaq gained 19 points to 6,448.


On the upside


Bargain hunters lifted shares of Arrowhead Pharmaceuticals (Nasdaq: ARWR).


Resolute Energy (NYSE: REN) will sell its holdings in Aneth Fields for up to $195 million.


Tailored Brands (NYSE: TLRD) declared a quarterly cash dividend of 18 cents per share payable on December 22, 2017 to shareholders of record December 12, 2017.

 

On the downside


T2 Biosystems (Nasdaq: TTOO) priced its public offering of 4.375 million shares of common stock at the discounted price of $4.00 per share.


Zix (Nasdaq: ZIXI) acquired the Entelligence Messaging Server email encryption solution from Entrust Datacard.

 

Shares of Glaukos (NYSE: GKOS) extended its losses.


In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 3 on the NYSE and by nearly 3 to 2 on Nasdaq. The broader S&P 500 rose 4 points to 2,500. Bitcoin tumbled $61 to $3,747.


Alphabet may invest in Lyft

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The markets advanced during the midday with the Dow climbing 56 points to 22,260. Nasdaq gained 16 points to 6,446.


Alphabet is exploring the possibility of making a significant investment in ride hailing app Lyft. The two companies have already partnered to develop autonomous vehicle technology. Lyft plans to offer free rides in self-driving cars in the San Francisco area later this year.


Aerosoles has filed for Chapter 11 bankruptcy protection. The women's footwear retailer has 78 stores nationwide and also sells its products through department stores and specialty locations. The company will shutter most of its stores in order to focus on its online presence and international sales.


Google has been sued by three former employees for gender pay discrimination. The suit alleges that Google pays women less than men at all job levels and assigns women lower job tiers with less upward mobility. Google disputed the allegations and said that all employees are compensated equitably.


In the broad market, advancing issues outpaced decliners by a margin of nearly 3 to 2 on the NYSE and by more than 3 to 2 on Nasdaq. The broader S&P 500 added 2 points to 2,497. Bitcoin leaped $287 to $3,594.


Mixed open as August retail sales fall

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The markets opened mixed with the Dow gaining 49 points to 22,252 while Nasdaq slipped 3 points to 6,426 after August retail sales unexpectedly fell.


On the upside


Analysts see Nvidia (Nasdaq: NVDA) as the leader in artificial intelligence computing.


Bargain hunters lifted shares of Intercept Pharmaceuticals (Nasdaq: ICPT).


Shares of Nokia (NYSE: NOK) extended its gains.

 

On the downside


Oracle (NYSE: ORCL) reported higher first quarter earnings that topped estimates but the company forecast cloud sales that missed expectations.


Carnival (NYSE: CCL) must change its cruise itineraries after Hurricane Irma decimated most of the Caribbean Islands.

 

JPMorgan downgraded United Continental (NYSE: UAL) from an Overweight rating to a Neutral rating.


In the broad market, advancing issues outpaced decliners by a margin of 6 to 5 on the NYSE while advancers barely edged out decliners by a slim margin on Nasdaq. The broader S&P 500 held steady at 2,495. Bitcoin tumbled $55 to $3,252.


The markets closed mixed with the Dow gaining 45 points to 22,203 as the nation's consumer prices rose more than expected last month. Nasdaq dropped 31 points to 6,429.


On the upside


BidaskClub downgraded Phoenix New Media (NYSE: FENG) from a Buy rating to a Hold rating but the stock price climbed.


W&T Offshore (NYSE: WTI) chief executive Tracy W. Krohn purchased 271,444 shares of company stock.


Cornerstone OnDemand (Nasdaq: CSOD) retained the services of Goldman Sachs and Centerview Partners to explore a potential sale of the company.

 

On the downside


Glaukos (NYSE: GKOS) revised its 2017 net sales guidance.


Arrowhead Pharmaceuticals (Nasdaq: ARWR) introduced it new TRiM platform but the stock price fell.

 

Morgan Stanley downgraded Hertz (NYSE: HTZ) from an Equal Weight rating to an Underweight rating.


In the broad market, advancing issues outpaced decliners by a margin of nearly 9 to 8 on the NYSE and by 6 to 5 on Nasdaq. The broader S&P 500 slipped 2 points to 2,495. Bitcoin collapsed $536 to $3,347.


CPI rises more than expected

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The markets traded mixed during the midday with the Dow rising 42 points to 22,200. Nasdaq fell 24 points to 6,435.


The nation's Consumer Price Index rose by a greater than expected 0.4% in August on the heels of a 0.1% gain in July. The increase was fueled by higher gasoline prices and rental rates. Core consumer prices, which exclude volatile food and energy prices, edged up 0.2%.


Daimler will offer electric delivery trucks in the U.S. A small fleet of FUSO eCanter short-range electric trucks will be provided to four non-profit organizations in New York. Package delivery company UPS will lease three trucks for two years that will be deployed in locations to be determined. 


President Donald Trump cited national security concerns for blocking the acquisition of Lattice Semiconductor by private equity firm Canyon Bridge Capital Partners. Canyon Bridge is partly funded by entities that are owned by the Chinese government. The move raised concerns about the proposed acquisition of MoneyGram International by Ant Financial, which is an affiliate of Alibaba Group.  


In the broad market, advancing issues barely edged out decliners by a slim margin on the NYSE while decliners outpaced advancers by 6 to 5 on Nasdaq. The broader S&P 500 slipped 2 points to 2,495. Bitcoin crashed $502 to $3,381.


The markets opened lower with the Dow slipping 14 points to 22,144 after North Korea threatened to sink Japan. Nasdaq dropped 21 points to 6,439.


On the upside


Halozyme Therapeutics (Nasdaq: HALO) licensed its Enhanze technology to Bristol-Myers Squibb (NYSE: BMY) for $105 million upfront and Roche for $30 million upfront.


Autoliv (NYSE: ALV) may split itself into two publicly traded companies.


United Natural Foods (Nasdaq: UNFI) reported higher fourth quarter earnings that topped analyst estimates.

 

On the downside


The Federal Trade Commission has opened an investigation into Equifax (NYSE: EFX) over its massive data breach.


Profit taking weighed down shares of Opko Health (Nasdaq: OPK).

 

US Foods Holding (NYSE: USFD) announced a secondary offering of 40 million common shares.


In the broad market, declining issues outpaced advancers by a margin of nearly 9 to 8 on the NYSE and by 4 to 3 on Nasdaq. The broader S&P 500 lost 4 points to 2,494. Bitcoin collapsed $334 to $3,550.


Higher close as producer prices edge up

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The markets closed higher with the Dow gaining 39 points to 22,158 as producer prices edged up 0.2% in August. Nasdaq rose 5 points to 6,460.


On the upside


Ballard Power Systems (Nasdaq: BLDP) introduced the world's first proton exchange membrane fuel cell that uses a non precious metal catalyst.


Inventure Foods (Nasdaq: SNAK) will sell its frozen business to Oregon Potato Company for $50 million.


Loxo Oncology (Nasdaq: LOXO) will present initial clinical data for LOXO-292 at the International Association for the Study of Lung Cancer 18th World Conference on Lung Cancer on October 18, 2017.

 

On the downside


Massachusetts prepared to sue Equifax (NYSE: EFX) over its security breach.


SharkNinja introduced its new Shark ION Robot robotic vacuum to compete against iRobot's (Nasdaq: IRBT) Roomba.

 

Shares of TransUnion (NYSE: TRU) tumbled over security concerns.


In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 3 on both the NYSE and on Nasdaq. The broader S&P 500 added a point to 2,498. Bitcoin rose $2 to $3,886.


The markets traded mixed during the midday with the Dow rising 17 points to 22,136. Nasdaq slipped 2 points to 6,451.


Nintendo will begin shipping the NES Classic Edition again in the summer of 2018. The miniaturized version of the original Nintendo Entertainment System that debuted in 1985 was one of the hottest holiday gifts last year. Nintendo had stopped producing the console earlier this year but has reversed its decision due to popular demand.


Target will hire 100,000 workers to staff its stores during the holiday shopping season. Hiring events will be held at its locations across the nation between October 13-15 with interviews and possible job offers being extended the same day. The goal of recruiting such a massive number of temporary employees is to create a pleasant shopping experience for customers.


Apple introduced three new phones yesterday at its new headquarters in Cupertino, CA. All three smartphones feature faster processing, wireless charging and improved dual rear and front cameras. The all glass iPhone 8 and iPhone 8 Plus have Retina HD displays while the iPhone X boasts FaceID facial recognition and a Super Retina HD OLED display.


In the broad market, advancing issues outpaced decliners by a margin of nearly 9 to 8 on the NYSE and by nearly 4 to 3 on Nasdaq. The broader S&P 500 held steady at 2,496. Bitcoin plunged $301 to $3,898.


Lower open as gas prices climb

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The markets opened lower with the Dow losing 15 points to 22,103 as gasoline prices climbed. Nasdaq fell 14 points to 6,440.


On the upside


Nordstrom (NYSE: JWN) was close to finalizing a deal to be taken private by Leonard Green & Partners.


Chesapeake Energy (NYSE: CHK) appointed Leslie S. Keating to its Board of Directors.


BioCryst Pharmaceuticals (Nasdaq: BCRX) priced its public offering of more than 15.5 million common shares at the discounted price of $5.15 per share.

 

On the downside


Teck Resources (NYSE: TECK) will begin trading ex-dividend tomorrow.


Portola Pharmaceuticals (Nasdaq: PTLA) priced its public offering of 6.35 million common shares at the discounted price of $55.00 per share.

 

AGNC Investment (Nasdaq: AGNC) priced its public offering of 24.5 million common shares.


The broader S&P 500 slipped 3 points to 2,493. Bitcoin plummeted $350 to $3,849.


Record job openings lift markets

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A record number of job openings in July lifted the markets to a higher close with the Dow gaining 61 points to 22,118. Nasdaq climbed 22 points to 6,454.


On the upside


Forward Pharma (NYSE: FWP) began trading ex-dividend today after a capital reduction yesterday.


Quotient (Nasdaq: QTNT) reported upbeat results from its latest MosiaQ performance evaluation.


United Healthcare (NYSE: UNH) selected Inovalon Holdings' (Nasdaq: INOV) Inovalon ONE Platform for data integration and analytical processing.

 

On the downside


Advaxis (Nasdaq: ADXS) widened losses for the third quarter.


Health Insurance Innovations (Nasdaq: HIIQ) addressed misleading information about the company.

 

Immunogen (Nasdaq: IMGN) exchanged $15.1 million of its senior convertible notes for newly issued company stock.


In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 3 on both the NYSE and on Nasdaq. The broader S&P 500 rose 8 points to 2,496. Bitcoin plunged $55 to $4,144.


The markets opened higher with the Dow rising 33 points to 22,090 as investors await the unveiling of Apple's new iPhones. Nasdaq gained 16 points to 6,448.


On the upside


The Food and Drug Administration accepted Teva Pharmaceutical's (NYSE: TEVA) supplemental New Drug Application for TRISENOX to treat patients with low to intermediate risk of acute promyelocytic leukemia.


Southwestern Energy (NYSE: SWN) priced its public offering of $1.15 billion in senior notes.


BidaskClub upgraded Perrigo (NYSE: PRGO) from a Strong Sell rating to a Sell rating.

 

On the downside


Intercept Pharmaceuticals (Nasdaq: ICPT) will present at the Morgan Stanley 15th Annual Global Healthcare Conference today.


Sage Therapeutics (Nasdaq: SAGE) reported disappointing results from a Phase 3 STATUS Trial of brexanolone to treat super-refractory status epilepticus.

 

Brookfield Infrastructure Partners (NYSE: BIP) will offer $1 billion in redeemable partnership units and L.P. units.


In the broad market, advancing issues outpaced decliners by a margin of more than 3 to 2 on both the NYSE and on Nasdaq. The broader S&P 500 added 3 points to 2,491. Bitcoin soared $92 to $4,284.


Investors welcomed reports that damage from Hurricane Irma are estimated to be below expectations. The markets soared to close sharply higher with the Dow rocketing 259 points to 22,057. Nasdaq surged 72 points to 6,432.


On the upside


Marinus Pharmaceuticals (Nasdaq: MRNS) reported upbeat results from a Phase 2 study of ganaxolone to treat CDKL5 disorder.


Shares of HCI Group (NYSE: HCI), Heritage Insurance Holdings (NYSE: HRTG) and Universal Insurance Holdings (NYSE: UVE) all climbed after estimates of Hurricane Irma damages fell short of expectations.


Bank of America upgraded Allegheny Technologies (NYSE: ATI) from an Underperform rating to a Buy rating and lifted its price target rom $16 to $24.

 

On the downside


Cloudera's (NYSE: CLDR) platform was used by Globe Telecom to enhance customer experience and deliver real-time targeted marketing campaigns but the stock price fell.


Janssen Pharmaceuticals terminated its collaboration agreement with Achillion Pharmaceuticals (Nasdaq: ACHN) to develop a hepatitis C treatment.

 

Investors locked in profits on Oncobiologics (Nasdaq: ONS).


In the broad market, advancing issues outpaced decliners by a margin of nearly 4 to 1 on the NYSE and by more than 5 to 2 on Nasdaq. The broader S&P 500 soared 26 points to 2,488. Bitcoin climbed $24 to $4,216.


Walt Disney World closed for Irma

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The markets extended its gains during the midday with the Dow leaping 254 points to 22,052. Nasdaq soared 67 points to 6,427.


For only the fifth time since it opened 46 years ago, Walt Disney World closed for two days due to Hurricane Irma. Hurricane force winds and heavy rain inundated the amusement park over the weekend toppling trees and causing at least one electric transformer to explode. The park plans to reopen on Tuesday.


The Spanish Data Protection Agency (AEPD) has fined Facebook 1.2 million euros, or approximately $1.43 million, for violating the privacy of users in Spain. The data protection watchdog found that the social media giant collected information about user's religious beliefs, personal preferences and ideology without the unequivocal consent of the user. The AEPD said that Facebook tracked people through the Like button from non-Facebook sites and failed to delete the information.


Tesla will be adding charging stations in metropolitan areas in order to provide city dwellers with options to charge their vehicles. Many residents of urban areas do not have access to a garage to charge their cars. Urban charging stations opened today in Boston and Chicago.


In the broad market, advancing issues outpaced decliners by a margin of nearly 4 to 1 on the NYSE and by more than 5 to 2 on Nasdaq. The broader S&P 500 leaped 25 points to 2,486. Bitcoin fell $19 to $4,219.


The markets opened sharply higher with the Dow soaring 130 points to 21,927 as Hurricane Irma became downgraded to a tropical storm. Nasdaq climbed 51 points to 6,411.


On the upside


Teva Pharmaceutical (NYSE: TEVA) named Kare Schultz to the position of chief executive officer.


The Guatemalan Supreme Court reinstated the Escobar mining license of Tahoe Resources' (NYSE: TAHO) subsidiary Minera San Rafael.


Bargain hunters lifted shares of XL Group (NYSE: XL).

 

On the downside


Alamos Gold (NYSE: AGI) will acquire Richmont Mines (NYSE: RIC) in an all stock transaction.


Shares of Equifax (NYSE: EFX) extended its losses.

 

Investors locked in profits on Louisiana-Pacific (NYSE: LPX).


In the broad market, advancing issues outpaced decliners by a margin of nearly 4 to 1 on the NYSE and by more than 5 to 2 on Nasdaq. The broader S&P 500 climbed 13 points to 2,474. Bitcoin edged up $1 to $4,240.


The markets closed mixed with the Dow rising 13 points to 21,797 as residents in southern Florida evacuate ahead of Hurricane Irma. Nasdaq dropped 37 points to 6,360.


On the upside


NewLink Genetics (Nasdaq: NLNK) reported updated data from an ongoing Phase 2NLG2103 study of indoximod in combination with KEYTRUDA.


Bargain hunters lifted shares of Universal Insurance Holdings (NYSE: UVE) and XL Group (NYSE: XL).


GlaxoSmithKline (NYSE: GSK) exercised its option to license the right to research, develop and commercialize Adaptimmune Therapeutics' (Nasdaq: ADAP) NY-ESO SPEAR T-cell therapy program.

 

On the downside


Second quarter revenue for Tintri (Nasdaq: TNTR) missed estimates.


American Outdoor Brands (Nasdaq: AOBC) fell to a loss for the first quarter prompting the company to lower its full year earnings and revenue guidance.

 

Science Applications International (NYSE: SAIC) reported lower second quarter earnings and revenue that fell short of expectations.


In the broad market, declining issues outpaced advancers by a margin of 6 to 5 on the NYSE while advancers barely edged out decliners by a slim margin on Nasdaq. The broader S&P 500 lost 3 points to 2,461. Bitcoin plunged $470 to $4,130.


100 million fake "likes" on Facebook

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The markets traded mixed during the midday with the Dow gaining 38 points to 21,823. Nasdaq dropped 27 points to 6,370.


University of Iowa researchers found that millions of "likes" on Facebook were automatically generated by websites that are run by spammers. The researchers estimated that up to 100 million fake "likes" and comments were created between 2015 and 2016. Users who want to increase the number of "likes" on their posts agree to "like" a post on the spammers site in exchange for fake "likes" on their own site.


The Federal Bureau of Investigation is investigating Uber for allegedly creating fake Lyft accounts in order to spy on Lyft. The "Hell" program tracked Lyft drivers and the fares that were being offered to clients. Uber also used the program to identify drivers who worked for both ride hailing services, recruit more drivers and attempted to persuade those worked for both to drive exclusively for Uber.


Casual dining chain Chili"s will trim its menu down from 125 items to 75 items in order to compete with fast casual rivals. By narrowing the number of offerings, Chili's can focus on improving the quality of its dishes. The new 40% lighter menu will debut nationwide on September 18.


The broader S&P 500 slipped point to 2,464. Bitcoin plummeted $254 to $4,345.


The markets opened lower with the Dow losing 20 points to 21,764 as Hurricane Irma continued its destructive path towards Florida. Nasdaq fell 8 points to 6,389.


On the upside


Kura Oncology (Nasdaq: KURA) reported positive results from a Phase 2 study of tipifarnib to treat HRAS mutant head and neck cancer.


The cyberattack against Equifax (NYSE: EFX) lifted shares of cybersecurity solutions provider Symantec (Nasdaq: SYMC).


Zumiez (Nasdaq: ZUMZ) narrowed second quarter losses more than expected as revenue rose.

 

On the downside


A cyberattack against Equifax (NYSE: EFX) may have compromised the data of 143 million Americans.


Kroger (NYSE: KR) reported lower second quarter earnings.

 

Finisar (Nasdaq: FNSR) reported lower first quarter earnings and forecast second quarter results that fell short of analyst expectations.


The broader S&P 500 held steady at 2,465. Bitcoin plummeted $210 to $4,390.


The markets closed mixed with the Dow losing 22 points to 21,784 as the nation braces for Hurricane Irma. Nasdaq added 4 points to 6,397.


On the upside


Amcor is reportedly exploring a possible acquisition of Bemis (NYSE: BMS).


Guidewire Software (NYSE: GWRE) impressed with sharply higher fourth quarter earnings and revenue that surpassed analyst expectations.


AbbVie (NYSE: ABBV) reported positive results from a Phase 2b study of upadacitinib to treat moderate to severe atopic dermatitis.

 

On the downside


Insurers Aspen Insurance Holdings (NYSE: AHL), Everest Re Group (NYSE: RE) and Validus Holdings (NYSE: VR) all fell as Hurricane Irma approached Florida.


ABM Industries (NYSE: ABM) disappointed with third quarter earnings that fell short of expectations.

 

Comcast (Nasdaq: CMCSA) warned of significant subscriber losses in the third quarter.


In the broad market, advancing issues outpaced decliners by a margin of nearly 7 to 3 on the NYSE and by nearly 2 to 1 on Nasdaq. The broader S&P 500 held steady at 2,465. Bitcoin added $3 to $4,585.


Lyft to test self-driving cars

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The markets traded mixed during the midday with the Dow falling 43 points to 21,764. Nasdaq rose 5 points to 6,398.


Lyft riders in the San Francisco area will soon have the option of riding in a self-driving car. The ride hailing app partnered with Drive.ai to test ten autonomous cars with live passengers. A trained driver will accompany the vehicle in case of an emergency and the rides will be free.


Nestle will acquire six-year-old startup Sweet Earth that makes frozen vegan meals and snacks. Sweet Earth's products are available at more than 10,000 locations nationwide in independent stores as well as chains such as Whole Foods, Target and Walmart. The maker of Harmless Ham and Benevolent Bacon reportedly generated $25 million in revenue last year.


Amazon announced plans to spend $5 billion to build a second headquarters, HQ2, in North America. The location must have more than 1 million people and easy access to an international airport. HQ2 will create nearly 50,000 jobs.


The broader S&P 500 slipped 2 points to 2,463. Bitcoin climbed $23 to $4,606.


Higher open on debt ceiling deal

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The markets opened higher with the Dow rising 13 points to 21,820 on a deal to raise the debt ceiling. Nasdaq added 9 points to 6,402.


On the upside


RH (NYSE: RH) reported a smaller than expected loss for the second quarter as revenue rose and lifted its full year forecast.


The Board of Governors of the Federal Reserve System approved Synovus Bank's (NYSE: SNV) acquisition of Cabela (NYSE: CAB) subsidiary World's Foremost Bank.


FireEye (Nasdaq: FEYE) will present at the Citi 2017 Global Technology Conference today in New York.

 

On the downside


Alnylam Pharmaceuticals (Nasdaq: ALNY) halted a midstage study of its hemophilia treatment fitusiran after a patient death.


Exelixis (Nasdaq: EXEL) introduced new corporate branding.

 

Antero Midstream Partners (NYSE: AM) priced its secondary offering of 10 million common units at the discounted pride of $31.45.


In the broad market, advancing issues outpaced decliners by a margin of nearly 7 to 3 on the NYSE and by nearly 2 to 1 on Nasdaq. The broader S&P 500 added 3 points to 2,468. Bitcoin soared $65 to $4,648.


Debt ceiling agreement lifts markets

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An agreement to increase the debt ceiling lifted the markets to a higher close with the Dow gaining 54 points to 21,807. Nasdaq rose 17 points to 6,393.


On the upside


HealthEquity (Nasdaq: HQY) reported higher second quarter earnings that beat expectations prompting the company to lift its full year forecast.


Gap (NYSE: GPS) will focus on growing its Old Navy brand to a $10 billion a year business and close approximately 200 struggling Gap and Banana Republic stores.


USG (NYSE: USG) will present at the 2017 RBC Capital Markets Global Industrials Conference next week.

 

On the downside


Triton International (NYSE: TRTN) will offer $200 million worth of common stock through a public offering.


Nomad Foods (NYSE: NOMD) announced secondary offering of up to 33.33 million common shares by Pershing Square.

 

GoDaddy (NYSE: GDDY) priced its public offering of more than 20 million common shares at the discounted price of $44.00 per share.


In the broad market, advancing issues outpaced decliners by a margin of nearly 7 to 3 on the NYSE and by nearly 2 to 1 on Nasdaq. The broader S&P 500 rose 7 points to 2,465. Bitcoin fell $20 to $4,562.


Trade gap edges up

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The markets continued to advance during the midday with the Dow climbing 83 points to 21,836. Nasdaq gained 22 points to 6,398.


The nation's trade gap edged up by a smaller than expected 0.3% in July to $43.7 billion. Imports and exports of goods and services as well as motor vehicles and parts slipped while exports of capital goods rose. The trade deficit with China climbed as exports gained 3.5% while imports increased 3.1%.


As Apple prepares for the launch of its latest iPhone and iOS operating system, developers have been busy creating augmented reality apps for the latest device. Ikea demonstrated an app that allows images of nearly 2,000 Ikea products to be superimposed into customer's homes. The Food Network created a dessert decorating game for users to decorate cakes, cupcakes or pies then share their work of art on social media.


Kohl's will begin selling Amazon devices such as Fire tablets and Echo voice enabled smart speakers at ten locations in Los Angeles and Chicago. Amazon sales associates will staff the store-within-a-store and assist customers in using and selecting devices. The partnership is the latest of Amazon's efforts to expand its presence to traditional brick-and-mortar retail spaces.


The broader S&P 500 rose 9 points to 2,467. Bitcoin leaped $246 to $4,630.


The markets opened higher with the Dow gaining 62 points to 21,815 as investors snapped up bargains. Nasdaq rose 19 points to 6,394.


On the upside


Sarepta Therapeutics (Nasdaq: SRPT) reported positive results from a Phase 1/2 study of golodirsen to treat patients with Duchenne muscular dystrophy.


Micro Focus International's (NYSE: MFGP) newly acquired Hewlett Packard Enterprise unit reported a smaller than expected drop in third quarter revenue.


HD Supply Holdings (Nasdaq: HDS) reported sharply higher second quarter earnings as revenue rose.

 

On the downside


Trivago (Nasdaq: TRVG) cut its forecast for the third quarter as well as the full year.


Dave & Buster's Entertainment (Nasdaq: PLAY) reported second quarter revenue that fell short of expectations prompting the company to lower its full year forecast.

 

Newell Brands (NYSE: NWL) lowered its full year earnings outlook due to a disruption to its supply chain caused by Hurricane Harvey.


The broader S&P 500 rose 6 points to 2,463. Bitcoin soared $166 to $4,550.


Concerns about a potential military conflict with North Korea sent the markets plummeting to close sharply lower with the Dow cratering 234 points to 21,753. Nasdaq tumbled 59 points to 6,375.


On the upside


Shares of Gold Fields (NYSE: GFI), Kinross Gold (NYSE: KGC) and Yamana Gold (NYSE: AUY) all rose as gold prices climbed.


Patterson-UTI Energy (Nasdaq: PTEN) appointed C. Andrew Smith to the position of chief financial officer and announced that it will acquire Multi-Shot.


Northwestern Mutual Investment Management increased its stake in Tenaris (NYSE: TS) by approximately 40.3%.

 

On the downside


A federal judge invalidated 11 of Mallinckrodt's (NYSE: MNK) patents.


Concerns that Hurricane Irma may cause record insured damage sent shares of AmTrust Financial Services (Nasdaq: AFSI), Aspen Insurance Holdings (NYSE: AHL), Everest Re Group (NYSE: RE), Validus Holdings (NYSE: VR), and XL Group (NYSE: XL) tumbling.

 

One refinery worker has died from injuries suffered during a fire on Monday at HollyFrontier's (NYSE: HFC) El Dorado, Kansas refinery.


In the broad market, advancing issues outpaced decliners by a margin of nearly 7 to 3 on the NYSE and by nearly 2 to 1 on Nasdaq. The broader S&P 500 dropped 18 points to 2,457. Bitcoin gained $29 to $4,416.


The markets extended its losses during the midday with the Dow collapsing 221 points to 21,766. Nasdaq plunged 63 points to 6,372.


Krispy Kreme will offer its popular Pumpkin Spice Original Glazed Doughnut for only one day this year. Fans can indulge their pumpkin spice craving on Friday, September 8 at participating stores nationwide. Customers are encouraged to share pictures on Friday using #PumpkinSpiceOG.


Orders for factory goods plunged 3.3% in July, the largest amount in nearly three years, as transportation equipment orders tumbled. Excluding transportation equipment, new factory orders edged up 0.5%. Demand for capital goods, which indicates the pace of business spending, soared 1.0%.


Facebook will begin testing new features on WhatsApp to enable better communication between businesses and WhatsApp users. A new WhatsApp Business app will allow companies to update customers on the status of their package delivery or flight schedule. The business app is currently free but Facebook will eventually charge for the service.


The broader S&P 500 tumbled 19 points to 2,456. Bitcoin dropped $15 to $4,370.


Escalating tensions with North Korea sent the markets down to a lower open with the Dow tumbling 75 points to 21,912. Nasdaq fell 21 points to 6,414.


On the upside


Zacks Investment Research upgraded Gerdau (NYSE: GGB) from a Hold rating to a Buy rating.


Bank of America/Merrill Lynch upgraded U.S. Steel (NYSE: X) from a Neutral rating to a Buy rating.


Hosking Partners increased its stake in Seagate Technology (Nasdaq: STX) by approximately 1.6%.

 

On the downside


Stone Fox Capital noted that Nutanix (Nasdaq: NTNX) has yet to become profitable.


Investors locked in profits on Teck Resources (NYSE: TECK).

 

United Technologies (NYSE: UTX) will pay a premium of approximately $23 billion to acquire Rockwell Collins (NYSE: COL).


The broader S&P 500 lost 6 points to 2,470. Bitcoin plunged $82 to $4,303.


U.S. markets closed

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

Higher close as rate concerns ease

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The markets closed higher with the Dow rising 39 points to 21,987 on easing concerns of a potential rate hike. Nasdaq added 6 points to 6,435.


On the upside


BidaskClub upgraded Eros International (NYSE: EROS) from a Sell rating to a Hold rating.


Vanguard Group increased its stake in Overstock.com (Nasdaq: OSTK) by 5.1% to a total of 701,775 shares.


HSBC lifted its price target on Yandex (Nasdaq: YNDX) from $34.60 to $38.40.

 

On the downside


Second quarter earnings for Tech Data (Nasdaq: TECD) missed expectations.


MannKind (Nasdaq: MNKD) will present at the Rodman & Renshaw 19th Annual Global Investment Conference on Monday, September 11 and at the Cantor Fitzgerald Global Healthcare Conference on Monday, September 25.

 

Shares of Health Insurance Innovations (Nasdaq: HIIQ) fell on news that President Donald Trump will slash the Obamacare enrollment outreach budget by 90%.


In the broad market, advancing issues outpaced decliners by a margin of nearly 7 to 3 on the NYSE and by nearly 2 to 1 on Nasdaq. The broader S&P 500 rose 4 points to 2,476. Bitcoin added $4 to $4,871.


Overtime rule struck down

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The markets traded higher during the midday with the Dow gaining 58 points to 22,006. Nasdaq added 10 points to 6,439.


A federal judge struck down an overtime pay rule that would have extended eligibility for overtime pay to more than 4 million workers. The rule would have increased the maximum salary to $47,476 from $23,660 for employees to be exempt from overtime pay. Businesses have said that labor expenses would have surged under the new rule. 


Lululemon Athletica plans to expand its menswear line of clothing into a billion dollar business by 2020. The Canadian athleisure wear maker has opened standalone stores for menswear and increased space for men's clothing in its existing stores. It's ABC brand of pants and swimming apparel have been popular with customers.


Honda and Acura owners who may have defective Takata air bags installed in their vehicles will get their air bags replaced and received compensation up to $500. Approximately 16.5 million owners will be eligible roe he settlement. A free rental car may also be provided to owners while their vehicles are being fixed.


In the broad market, advancing issues outpaced decliners by a margin of nearly 7 to 3 on the NYSE and by more than 5 to 3 on Nasdaq. The broader S&P 500 rose 6 points to 2,478. Bitcoin soared $114 to $4,850.


The nation's economy added fewer jobs than expected in August but the markets opened higher with the Dow rising 33 points to 21,981. Nasdaq gained 14 points to 6,442.


On the upside


Nutanix (Nasdaq: NTNX) reported a smaller than expected loss for the fourth quarter as revenue surged.


Palo Alto Networks (NYSE: PANW) reported higher fourth quarter revenue and a smaller than expected loss.


Lululemon Athletica (Nasdaq: LULU) reported better than expected earnings for the second quarter and lifted its full year revenue forecast.

 

On the downside


Second quarter earnings plunged for Ambarella (Nasdaq: AMBA).


Investors locked in profits on Momo (Nasdaq: MOMO).

 

Profit taking weighed down shares of ImmunoGen (Nasdaq: IMGN).


In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 3 on the NYSE and by more than 4 to 3 on Nasdaq. The broader S&P 500 added 3 points to 2,474. Bitcoin soared $124 to $4,860.


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