Fed mixed about inflation, markets close higher

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Minutes from the Federal Reserve's September meeting indicated that some members advocated for interest rates to be held steady rather than lifted at the end of the year. The markets closed higher with the Dow gaining 42 points to 22,872. Nasdaq rose 16 points to 6,603.


On the upside


Credit Suisse analyst Stephen Ju lifted his price target on Snap (NYSE: SNAP) from $17.00 to $20.00.


Phoenix New Media (NYSE: FENG) extended a trademark license agreement with certain entities.


Seattle Genetics (Nasdaq: SGEN) entered into two clinical collaboration agreements to evaluate SGN-LIV1A to treat triple negative breast cancer.

 

On the downside


Barracuda Networks (NYSE: CUDA) reported lower second quarter earnings even as revenue rose.


VOXX International (Nasdaq: VOXX) reported sharply higher second quarter earnings but revenue fell.

 

The German Federal Patent Court issued a preliminary opinion against Xperi (Nasdaq: XPER) in a patent dispute.


In the broad market, advancing issues outpaced decliners by a margin of nearly 3 to 2 on the NYSE while advancers barely edged out decliners by a slim margin on Nasdaq. The broader S&P 500 rose 4 points to 2,555. Bitcoin rose $8 to $4,826.


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This page contains a single entry by published on October 11, 2017 2:05 PM.

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