Mixed close on technology sector sell-off


The markets retreated to close mixed with the Dow gaining 58 points to close at 24,290 as investors abandoned technology stocks. Nasdaq plummeted 72 points to 6,775.

On the upside

General Cable (NYSE: BGC) will be acquired by Prysmian for a premium of approximately $3 billion in cash.

Bue Apron (NYSE: APRN) has replaced former chief executive Matthew Salzburg with former chief financial officer Brad Dickerson.

Shares of Cameco (NYSE: CCJ) climbed after rival uranium producer Kazatomprom announced that it would cut production by 20% beginning in 2018. 

On the downside 

Ra Pharmaceuticals (Nasdaq: RARX) reported positive interim results from an ongoing Phase 2 clinical program evaluating RA101495 SC to treat paroxysmal nocturnal hemoglobinuria but the stock price plunged.

Investors locked in profits on Windstream Holdings (Nasdaq: WIN). 

Roth Capital analyst Phillip Shen lifted his price target on Daqo New Energy (NYSE: DQ) from $50 to $65 but the stock price plummeted.

In the broad market, advancing issues barely edged out decliners by a slim margin on the NYSE while decliners outpaced advancers by more than 5 to 4 on Nasdaq. The broader S&P 500 slipped 2 points to 2,639. Bitcoin leaped $307 to $11,457.

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