January 2018 Archives

The markets retreated from earlier highs but still closed in the positive with the Dow gaining 72 points to 26,149 after the Federal Reserve said that inflation would likely rise. Nasdaq added 9 points to 7411.


On the upside


Cascadian Therapeutics (Nasdaq: CASC) will be acquired by Seattle Genetics (Nasdaq: SGEN) for a premium of approximately $614 million in cash.


Ply Gem (NYSE: PGEM) will be taken private by Clayton, Dubilier & Rice in a transaction valued at approximately $2.4 billion.


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

 

On the downside 


The Food and Drug Administration placed Bellicum Pharmaceuticals' (Nasdaq: BLCM) BPX-501 studies on clinical hold.


Goldman Sachs downgraded Forterra (Nasdaq: FRTA) from a Neutral rating to a Sell rating.


Eastman Kodak (NYSE: KODK) said that it may take several weeks to verify the accredited investor status of all parties that are interested in the company's upcoming digital KODAKCoin offering.


In the broad market, advancing issues outpaced decliners by a margin of nearly 6 to 5 on the NYSE while decliners edged out advancers by nearly 3 to 2 on Nasdaq. The broader S&P 500 added a point to 2,823. Bitcoin plunged $140 to $9,979.


The markets traded higher during the midday with the Dow soaring 152 points to 26,229. Nasdaq gained 23 points to 7425.


McDonald's will open approximately 1,000 new locations around the world and accelerate plans to upgrade its current sites. An additional 3,000 locations will offer self-service kiosks for ordering food and delivery of food to a customer's table when the order is ready. The fast food giant will also expand delivery service to nearly 10,000 locations in the U.S. by 2019.


Amazon will introduce a new voice for its digital assistant Alexa during a Super Bowl ad on Sunday. The upgrade from a more robotic sound to a voice that more closely resembles human speech follows the lead of Apple's Siri make-over last year. Alexa commands 68% of the domestic smart speaker market.


Chicken processors Tyson Foods, Pilgrim's Pride, Perdue Farms and Sanderson Farms have been sued by food distributors for allegedly violating antitrust regulations. Sysco and U.S. Foods have accused the meat companies of conspiring to fix prices. The food distributors previously filed a lawsuit against the chicken processors in 2016 for lowering their output and manipulating prices.


In the broad market, advancing issues outpaced decliners by a margin of nearly 4 to 3 on the NYSE and by nearly 6 to 5 on Nasdaq. The broader S&P 500 rose 7 points to 2,829. Bitcoin plunged $132 to $9,987.


Upbeat earnings boost markets

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Strong earnings boosted the markets to a higher open with the Dow leaping 192 points to 26,268. Nasdaq climbed 41 points to 7443.


On the upside


Shutterfly (Nasdaq: SFLY) will pay approximately $825 million in cash to acquire school picture business Lifetouch.


Fourth quarter earnings and revenue surged for Knight-Swift Transportation Holdings (NYSE: KNX) and the truckload transportation company expects contract rates to rise in 2018.


Electronic Arts (Nasdaq: EA) reported higher third quarter revenue that beat expectations.

 

On the downside 


Juniper Networks (NYSE: JNPR) fell to a loss for the fourth quarter as revenue dropped and forecast current quarter results below expectations.


LM Ericsson (Nasdaq: ERIC) widened fourth quarter losses more than expected as revenue fell.


Fourth quarter earnings plunged for Align Technology (Nasdaq: ALGN).


In the broad market, advancing issues outpaced decliners by a margin of 2 to 1 on the NYSE and by more than 4 to 3 on Nasdaq. The broader S&P 500 gained 10 points to 2,832. Bitcoin plunged $127 to $9,992.


Healthcare sell-off sinks stocks

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A sell-off of healthcare stocks sent the markets into a tailspin with the Dow tanking 362 points to 26,076. Nasdaq plunged 64 points to 7402.


On the upside


Aquantia (NYSE: AQ) will provide its Multi-Gig chipset solution for Nvidia's (Nasdaq: NVDA) autonomous vehicle DRIVE Xavier and DRIVE Pegasus platforms.


The Food and Drug Administration upgraded the designation of Pfizer's (NYSE: PFE) McPherson facility as Voluntary Action Indicated which clears a path for the marketing approval of Achaogen's (Nasdaq: AKAO) plazomicin.


Extreme Networks (Nasdaq: EXTR) will replace Time (NYSE: TIME) on the S&P SmallCap 600 before market open on February 1, 2018.

 

On the downside 


Fourth quarter earnings plunged for Polaris Industries (NYSE: PII).


AK Steel (NYSE: AKS) widened fourth quarter losses more than expected.


Integrated Device Technology (Nasdaq: IDTI) fell to a loss for the third quarter.


In the broad market, declining issues outpaced advancers by a margin of more than 4 to 1 on the NYSE and by nearly 3 to 1 on Nasdaq. The broader S&P 500 plummeted 31 points to 2,832. Bitcoin crashed $954 to $10,071.


The markets extended its losses during the midday with the Dow collapsing 367 points to 26,071. Nasdaq plunged 67 points to 7399.


Amazon, Berkshire Hathaway and JPMorgan will form a new company with the mission of improving health care for their U.S. employees while lowering costs. Amazon senior vice president Beth Galetti, Berkshire Hathaway investment officer Todd Combs and JPMorgan managing director Marvell Sullivan Berchtold will run the company. The company will first explore technology solutions that can deliver better care.


Apple's disclosure in December that it slowed the performance of older iPhones has prompted investigations by the Department of Justice and the Securities and Exchange Commission. Information from Apple has been requested by the Justice Department. The two agencies are concerned that securities laws may have been broken.


Facebook announced additional initiatives to protect users from fake news and scams. Ads that promote cryptocurrencies such as bitcoin, ethereum and ripple will no longer be allowed on the social media site. Facebook will also promote stories from local news agencies on the News Feed of users.


In the broad market, declining issues outpaced advancers by a margin of nearly 4 to 1 on the NYSE and by nearly 3 to 1 on Nasdaq. The broader S&P 500 plummeted 30 points to 2,823. Bitcoin crashed $893 to $10,132.


Consumer confidence rose in January but the markets plunged to open sharply lower with the Dow crashing 241 points to 26,198 as Apple cuts production of the iPhone X. Nasdaq plummeted 78 points to 7388.


On the upside


Callidus Software (Nasdaq: CALD) will be acquired by SAP for approximately $2.4 billion.


Blackstone Group has offered to take a 55% stake in Thomson Reuters' (NYSE: TRI) Financial and Risk business.


HCA Healthcare (NYSE: HCA) reported better than expected earnings for the fourth quarter and initiated a quarterly dividend of 35 cents per share payable on March 30, 2018 to shareholders of record on March 1, 2018.

 

On the downside 


Scotts Miracle-Gro (NYSE: SMG) reported a greater than expected loss for the first quarter.


Parsley Energy (NYSE: PE) provided an operational update.


MetLife (NYSE: MET) delayed the release of its fourth quarter earnings, announced plans to increase its total reserves by up to $575 million and acknowledged that it failed to make pension plan payments prompting the Securities and Exchange Commission to question the insurer.


In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 1 on the NYSE and by nearly 7 to 2 on Nasdaq. The broader S&P 500 tumbled 21 points to 2,832. Bitcoin collapsed $512 to $10,513.


Markets plunge as savings tumble

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The markets closed sharply lower with the Dow plummeting 177 points to 26,439 as the nation's savings and savings rate both tumbled to their lowest levels in more than a decade. Nasdaq dropped 39 points to 7466.


On the upside


Immersion (Nasdaq: IMMR) entered settlement and license agreements with Apple (Nasdaq: AAPL).


Ballard Power Systems (Nasdaq: BLDP) expects to report record revenue of approximately $120 million for fiscal 2017.


Seaport Global Securities upgraded Matson (NYSE: MATX) from a Neutral rating to a Buy rating.

 

On the downside 


VMware (NYSE: VMW) is reportedly exploring the possibility of acquiring Dell Technologies (NYSE: DVMT) in a reverse merger.


Sohu.com (Nasdaq: SOHU) widened losses for the fourth quarter.


Alder Biopharmaceuticals (Nasdaq: ALDR) will offer $200 million in convertible senior notes.


In the broad market, declining issues outpaced advancers by a margin of 9 to 2 on the NYSE and by nearly 7 to 3 on Nasdaq. The broader S&P 500 tumbled 19 points to 2,853. Bitcoin crashed $506 to $11,205.


The markets continued to retreat during the midday with the Dow tumbling 115 points to 26,501. Nasdaq lost 25 points to 7480.


Panera Bread has recalled all cream cheese products nationwide with an expiration date on or before April 2, 2018 due to a possible contamination of listeria. Samples from one variety of cream cheese that were produced on one day tested positive for listeria. No illnesses have been reported.


Facebook will unveil a new privacy center that will centralize all privacy settings in one place so that users can more easily control access to their personal data. The move is in response to the European Union's upcoming General Data Protection Regulations that are designed to protect the privacy of all citizens in the 28 countries of the EU. Violations of the new regulations that take effect on May 25, 2018 will trigger fines of up to 4% of a company's global revenue or 20 million euros, whichever amount is greater.


More indictments are expected in a bribery scandal involving Fiat Chrysler executives and United Automobile Workers officials. Federal prosecutors have accused the automaker's executives of bribing union leadership to negotiate contract terms that favored Fiat Chrysler. The scheme involved millions of dollars worth of gifts of jewelry, custom watches, cigars, trips, and wine.


In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 2 on the NYSE and by more than 5 to 3 on Nasdaq. The broader S&P 500 fell 11 points to 2,861. Bitcoin collapsed $587 to $11,125.


Consumer spending rose 0.4% in December but the markets opened lower with the Dow losing 32 points to 26,584. Nasdaq fell 21 points to 7484.


On the upside


KapStone Paper & Packaging (NYSE: KS) will be acquired by WestRock for a premium of approximately $3.5 billion.


Dr Pepper Snapple Group (NYSE: DPS) will merge with Keurig Green Mountain to create a new beverage company, Keurig Dr Pepper.


The Canadian Drug Expert Committee granted a positive recommendation for Amicus Therapeutics' (Nasdaq: FOLD) Galafold for listing with provincial drug formularies.

 

On the downside 


Sogou (NYSE: SOGO) reported higher fourth quarter earnings and revenue but the stock price fell.


Shares of Wynn Resorts (Nasdaq: WYNN) continued to fall amidst sexual misconduct allegations against founder and chief executive Steve Wynn.


Adient (NYSE: ADNT) reported a greater than expected loss for the first quarter.


In the broad market, declining issues outpaced advancers by a margin of nearly 4 to 1 on the NYSE and by more than 5 to 3 on Nasdaq. The broader S&P 500 lost 5 points to 2,867. Bitcoin crashed $498 to $11,214.


The markets surged to close sharply higher with the Dow rocketing 223 points to 26,616 on impressive earnings. Nasdaq leaped 94 points to 7505.


On the upside


Shares of ARMO BioSciences  (Nasdaq: ARMO) surged on its first trading day.


Solid Biosciences (Nasdaq: SLDB) stock leaped in its market debut.


Shares of PlayAGS (NYSE: AGS) climbed on its first day as a publicly traded company.

 

On the downside 


Investors locked in profits on MannKind (Nasdaq: MNKD).


Wynn Resorts (Nasdaq: WYNN) founder and chief executive Steve Wynn has been accused by dozens of women of sexual misconduct.


Aspen Insurance Holdings (NYSE: AHL) expects a significant loss in the fourth quarter due to the California wildfires.


In the broad market, advancing issues outpaced decliners by a margin of 6 to 5 on the NYSE and by more than 3 to 2 on Nasdaq. The broader S&P 500 surged 33 points to 2,872. Bitcoin plunged $319 to $10,830.


FedEx to raise wages

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The markets extended its gains during the midday with the Dow soaring 120 points to 26,513. Nasdaq climbed 62 points to 7473.


FedEx joined a growing list of companies that will use savings generated from the new tax overhaul plan to increase pay. The package delivery service will spend approximately $200 million to raise wages for hourly workers and fund performance based incentive plans for salaried employees. The company will also contribute $1.5 billion to an employee pension plan and invest $1.5 billion to expand is Indianapolis hub and modernize its Memphis SuperHub.


Walmart has partnered with Japanese e-commerce company Rakuten to begin selling audio and digital books. Titles will be available through a co-branded app and Rakuten's Kobo e-Reader. Rakuten boasts nearly 6 million titles in its digital book store.


Taco Bell began selling a limited edition $1 nacho fries in order to compete against McDonald's $1 $2 $3 Dollar Menu, Burger King's Value Menu and Wendy's Right Price, Right Size menu. The fries are topped with a spicy seasoning then served with nacho cheese sauce. A Bell Grande size order comes with beef, pico de gallo, nacho cheese and sour cream.


In the broad market, declining issues barely edged out advancers by a slim margin on the NYSE while advancers outpaced decliners by 6 to 5 on Nasdaq. The broader S&P 500 soared 21 points to 2,860. Bitcoin tumbled $132 to $11,017.


Strong earnings boost markets

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Strong corporate earnings boosted the markets to a higher open with the Dow climbing 74 points to 26,466. Nasdaq gained 37 points to 7448.


On the upside


Intel (Nasdaq: INTC) reported better than expected results for the fourth quarter.


Fourth quarter results for AbbVie (NYSE: ABBV) topped expectations.


Dell is mulling the possibility of acquiring the shares of VMware (NYSE: VMW) that it does not already own.

 

On the downside 


Colgate-Palmolive (NYSE: CL) disappointed with lower fourth quarter earnings.


First quarter revenue for Starbucks (Nasdaq: SBUX) missed expectations.


J.P.Morgan downgraded Bed Bath & Beyond (Nasdaq: BBBY) from a Neutral rating to an Underweight rating and cut its price target from $21.00 to $18.00.


In the broad market, advancing issues were on par with decliners on the NYSE while advancers edged out decliners by nearly 6 to 5 on Nasdaq. The broader S&P 500 rose 8 points to 2,847. Bitcoin plummeted $340 to $10,809.


Mixed close as new home sales drop

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It was mixed close for the markets with the Dow soaring 140 points to 26,392 despite upbeat earnings as new home sales fell while first time applications for unemployment benefits rose. Nasdaq slipped 3 points to 7411.


On the upside


Shares of Menlo Therapeutics (Nasdaq: MNLO) surged on its first trading day.


Iovance Biotherapeutics (Nasdaq: IOVA) stock soared in its market debut.


BGI will purchase an additional 10 Sequel Systems from Pacific Biosciences of California (Nasdaq: PACB).

 

On the downside 


ConforMIS (Nasdaq: CFMS) priced its public offering of more than 13.3 million common shares at the discounted price of $1.50 per share.


Horizon Global (NYSE: HZN) cut its full year forecast and warned of losses.


Spruce Point Capital wrote that Ballard Power Systems (Nasdaq: BLDP) could potentially drop 35-70%.


In the broad market, declining issues outpaced advancers by a margin of 6 to 5 on the NYSE while decliners barely edged out advancers by a slim margin on Nasdaq. The broader S&P 500 added a point to 2,839. Bitcoin rose $61 to $11,172.


Home Depot to give bonuses

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The markets extended its gains during the midday with the Dow leaping 167 points to 26,420. Nasdaq rose 16 points to 7431.


Home Depot cited the corporate tax cut for implementing a bonus program for its hourly employees. Workers who have been with the home improvement retailer for at least 20 years will receive $1,000 while the amount will be prorated for those with less experience. The company did not announce any wage increases.


Apple revealed features of its next operating system, iOS 11.3, that will be available in the spring. A new power management tool will allow users to turn off certain features when the battery runs low and will also alert users when the battery is about to die. Four new Animoji characters will join the current offering of 12 animated emojis.


The European Union's highest court ruled that a class action lawsuit could not be brought against Facebook by an Austrian privacy activist. Max Schrems has alleged that Facebook violated data protection rights in Europe by providing the personal data of users to a U.S. intelligence agency. The European Court of Justice said that an individual case may be brought against Facebook in Austria.


In the broad market, declining issues were on par with advancers on the NYSE while advancers edged out decliners by more than 6 to 5 on Nasdaq. The broader S&P 500 gained 6 points to 2,843. Bitcoin climbed $117 to $11,228.


Markets climb on upbeat earnings

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Upbeat earnings lifted the markets to a higher open with the Dow gaining 61 points to 26,313. Nasdaq climbed 42 points to 7457.


On the upside


TAL Education (NYSE: TAL) reported sharply higher third quarter earnings and revenue.


Fourth quarter earnings surged for Cleveland-Cliffs (NYSE: CLF).


Varian Medical Systems (NYSE: VAR) reported a smaller than expected loss for the first quarter and lifted its full yer forecast.

 

On the downside 


Newell Brands (NYSE: NWL) announced the resignation of three directors and initiated a plan to explore strategic options.


Laredo Petroleum (NYSE: TK) completed fewer wells than expected in the fourth quarter.


Range Resources (NYSE: RRC) announced a 2018 capital budget that was greater than its expected cash flow.


In the broad market, declining issues outpaced advancers by a margin of more than 4 to 3 on the NYSE and by 5 to 4 on Nasdaq. The broader S&P 500 gained 9 points to 2,846. Bitcoin gained $80 to $11,191.


Mixed close over potential trade war

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The markets closed mixed with the Dow gaining 41 points to 26,252 over concerns about a potential trade war with China. Nasdaq dropped 45 points to 7415.


On the upside


Shares of PagSeguro Digital (NYSE: PAGS) surged in its market debut.


An Amazon (Nasdaq: AMZN) subsidiary will invest up to $600 million in StarTek (NYSE: SRT) for up to 4 million shares.


W.W. Grainger (NYSE: GWW) impressed with sharply higher fourth quarter earnings that beat analyst expectations.

 

On the downside 


Sigma Designs (Nasdaq: SIGM) will sell its Z-Wave business to Silicon Labs then initiate a plan of liquidation.


Teekay (NYSE: TK) priced its public offering of 10 million common shares at the discounted price of $9.75 per share.


Goldman Sachs initiated coverage of Valeant Pharmaceuticals International (NYSE: VRX) with a Sell rating and an $18.00 price target.


In the broad market, advancing issues outpaced decliners by a margin of nearly 4 to 3 on the NYSE and by more than 5 to 3 on Nasdaq. The broader S&P 500 slipped a point to 2,837. Bitcoin soared $189 to $11,239.


The markets traded mixed during the midday with the Dow rising 21 points to 26,231. Nasdaq fell 36 points to 7423.


Starbucks announced new benefits and compensation initiatives for all of its employees. Baristas will receive $500 in stock grants, up to six weeks of paid parental leave, and five days of sick leave for those employees working over 23 hours per week. Hourly wages and salaries will also increase beginning in April.


Qualcomm was fined $1.23 billion by the European Union for making illegal payments to Apple. The chipmaker is accused of stifling competition by paying Apple to use its products exclusively. Between 2011 and 2016, the EU said that Qualcomm supplied Apple with its chips at reduced prices on the condition that iPhones and iPads only used Qualcomm chips.


Toys R Us will close approximately 180 stores nationwide as part of its restructuring plan to exit bankruptcy protection. Stores will begin shutting their doors in February with the closure process continuing through April. After accumulating $5 billion in debt, the retailer filed for bankruptcy protection in September 2017.


In the broad market, declining issues outpaced advancers by a margin of nearly 6 to 5 on the NYSE and by more than 5 to 3 on Nasdaq. The broader S&P 500 held steady at 2,839. Bitcoin climbed $101 to $11,151.


The markets opened higher with the Dow climbing 72 points to 26,282 despite a greater than expected drop in December existing home sales. Nasdaq gained 14 points to 7474.


On the upside


McDermott (NYSE: MDR) lifted its full year forecast.


Shares of The Medicines Company (Nasdaq: MDCO) climbed for the third day in a row.


Cree (Nasdaq: CREE) reported higher second quarter earnings.

 

On the downside 


The European Medicines Agency's Committee for Medicinal Products for Human Use voted against Puma Biotechnology's (Nasdaq: PBYI) Marketing Authorization Application for neratinib to treat early stage HER2-positive breast cancer.


Fourth quarter earnings for RPC (NYSE: RES) fell short of analyst expectations.


United Continental Holdings (NYSE: UAL) will increase capacity by 4 to 6 percent.


In the broad market, advancing issues outpaced decliners by a margin of nearly 3 to 32 on the NYSE and by nearly 4 to 3 on Nasdaq. The broader S&P 500 rose 6 points to 2,845. Bitcoin soared $245 to $11,295.


The markets closed mixed with the Dow easing 3 points to 26,210 as investors weigh the impact of steep solar panel import tariffs. Nasdaq climbed 52 points to 7460.


On the upside


Shares of vTv Therapeutics (Nasdaq: VTVT) surged on no news.


Inovio Pharmaceuticals (Nasdaq: INO) announced that its synthetic flu vaccine protected multiple animal models from all major deadly strains of H1 influenza viruses from the last 100 year.


Chinese scientists have used CRISPR Therapeutics (Nasdaq: CRSP) technology to genetically engineer cells in 86 cancer and HIV patients.

 

On the downside 


Obalon Therapeutics (Nasdaq: OBLN) terminated its public offering of more than 5.4 million common shares due to allegations of improper revenue recognition.


The Ledger Gazette wrote that Wendy's (Nasdaq: WEN) was a better business than Jamba (Nasdaq: JMBA).


Shares of JinkoSolar Holdings (NYSE: JKS) tumbled after President Donald Trump imposed steep tariffs on solar panel imports.


In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 3 on the NYSE and by nearly 4 to 3 on Nasdaq. The broader S&P 500 rose 6 points to 2,839. Bitcoin soared $316 to $10,995.


Apple HomePod launches on February 9

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The markets traded mixed during the midday with the Dow slipping 10 points to 26,204. Nasdaq gained 42 points to 7450.


Apple will launch its much delayed HomePod smart speaker on February 9, 2018. Preorders begin on January 26 for the $349 device that will be available in white and space gray. Apple said that the superior sound quality of the HomePod will distinguish it from rival smart speakers Amazon Echo, which holds nearly 70% of the speaker market, and Google Home, which has 25% of the market.


Google Play introduced its audiobooks service today in 45 countries and nine languages. Many best selling titles will cost less than $10 and a 50% discount is being offered on a customer's first purchase. Google has not revealed the number of books that will be available but Amazon's Audible offers more than 400,000 titles.


Kimberly-Clark will restructure its business in order to save more than $2 billion by 2021. Approximately 5,000 to 5,500 jobs will be cut around the world while ten production facilities will be closed or sold. The consumer products company may sell some underperforming units such as its consumer tissue business.


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 added 4 points to 2,837. Bitcoin leaped $609 to $11,298.

The markets opened flat with the Dow holding steady at 26,214 over concerns that new import tariffs on solar panels will lead to job losses due to fewer solar installations. Nasdaq rose 16 points to 7424.


On the upside


Netflix (Nasdaq: NFLX) added far more subscribers in the fourth quarter than expected prompting analysts to lift their price targets on the streaming service.


Shares of First Solar (Nasdaq: FSLR) soared after steep new tariffs on solar panel imports were announced.


ResMed (NYSE: RMD) reported better than expected second quarter results.

 

On the downside 


Insmed (Nasdaq: INSM) announced a proposed public offering of $300 million in convertible senior notes.


Credit Suisse downgraded Pretium Resources (NYSE: PVG) to a Hold rating.


Second quarter earnings dropped for New Oriental Education & Technology Group (NYSE: EDU).


In the broad market, advancing issues outpaced decliners by a margin of 6 to 5 on the NYSE while decliners edged out advancers by a slim margin on Nasdaq. The broader S&P 500 added 3 points to 2,835. Bitcoin crashed $409 to $10,279.


Senate deal boosts markets

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A Senate deal to end the government shutdown sent the markets soaring to a sharply higher close with the Dow surging 142 points to 26,214. Nasdaq leaped 71 points to 7408.


On the upside


Array BioPharma (Nasdaq: ARRY) reported positive updated results from a Phase 3 BEACON CRC trial evaluating the triplet combination of encorafenib, binimetinib and cetuximab.


Analysts expect The Medicines Company's (Nasdaq: MDCO) inclisiran to outsell Esperion Therapeutics' (Nasdaq: ESPR) bemepedoic acid.


Abercrombie & Fitch (NYSE: ANF) lifted its fourth quarter revenue outlook due to a strong holiday shopping season.

 

On the downside 


Sanmina (Nasdaq: SANM) that first quarter results will fall short of previous guidance.


PetMed Express (Nasdaq: PETS) reported higher third quarter earnings and revenue that topped analyst estimates but the stock price fell.


II-Vl (Nasdaq: IIVI) introduced its tristimulus colorimeter filters but the stock price fell on concerns that production of the iPhone X will be scaled back.


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 climbed 22 points to 2,832. Bitcoin collapsed $883 to $10,320.


Amazon Go welcomes the public

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The markets advanced during the midday with the Dow gaining 62 points to 26,134. Nasdaq climbed 51 points to 7387.


Amazon Go welcomed the public to its cashier-less grocery store in downtown Seattle today. Customers scan the Amazon Go app on their smartphone when they first enter the store, place items into their shopping bags as they wander through the 1,800 square foot store, then walk out. Amazon's proprietary Just Walk Out technology automatically tracks products and seamlessly charges customers for their purchases.


Ralph Lauren designed down parkas for the U.S. Winter Olympic team that are equipped with heating technology. The heating system is hidden inside the jackets and uses carbon and silver ink that is printed onto the jackets to conduct heat. A battery pack powers the heat and can last for 5 hours on high and 11 hours on low.


Two hedge funds that own shares of Xerox have called upon the company to explore strategic options. Carl Icahn has demanded that chief executive Jeff Jacobson be replaced and that a joint venture with Fujifilm Holdings be renegotiated. Xerox has affirmed its confidence in its management team and is focused on following the current direction of the company.


In the broad market, advancing issues outpaced decliners by a margin of nearly 4 to 3 on the NYSE and by nearly 6 to 5 on Nasdaq. The broader S&P 500 gained 13 points to 2,823. Bitcoin plummeted $691 to $10,512.


Mixed open on third day of shutdown

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The markets opened mixed with the Dow falling 46 points to 26,025 as the government shutdown entered its third day. Nasdaq added 2 points to 7338.


On the upside


Sanofi (NYSE: SNY) will pay a premium of approximately $11.6 billion in cash to acquire Bioverativ (Nasdaq: BIVV).


Validus (NYSE: VR) will be acquired by AIG for a premium of approximately $5.56 billion in cash.


Celgene (Nasdaq: CELG) agreed to acquire Juno Therapeutics (Nasdaq: JUNO) for a premium of approximately $9 billion in cash.

 

On the downside 


Shares of Protection One (NYSE: ADT) continued to fall.


New Oriental Education & Technology Group (NYSE: EDU) will release earnings tomorrow before market open.


Ctrip International (Nasdaq: CTRP) signed a strategic partnership agreement with European Travel Commission but the stock price fell.


In the broad market, declining issues outpaced advancers by a margin of nearly 6 to 5 on both the NYSE and on Nasdaq. The broader S&P 500 eased a point to 2,809. Bitcoin rose $436 to $10,767.


Even as the government moved closer to a shutdown, the markets closed higher with the Dow gaining 53 points to 26,071. Nasdaq climbed 40 points to 7336.


On the upside


Shares of Nine Energy Service (NYSE: NINE) soared on its first trading day.


Bunge (NYSE: BG) has reportedly received an acquisition offer from Archer Daniels Midland (NYSE: ADM).


Americold Realty Trust (NYSE: COLD) stock climbed in its market debut.

 

On the downside 


Shares of Protection One (NYSE: ADT) dropped on its first trading day.


Obalon Therapeutics (Nasdaq: OBLN) priced its public offering of approximately 5.4 million common shares at the discounted price of $5.50 per share.


Morgan Stanley analyst Joseph Moore downgraded Inphi (NYSE: IPHI) from and Overweight rating to an Equal Weight rating and slashed his price target from $45.00 to $36.00.


In the broad market, advancing issues outpaced decliners by a margin of 2 to 1 on the NYSE and by more than 5 to 2 on Nasdaq. The broader S&P 500 gained 12 points to 2,810. Bitcoin rose $78 to $11,331.


The markets traded mixed during the midday with the Dow falling 38 points to 25,979 while Nasdaq rose 28 points to 7324.


Coca-Cola introduced its World Without Waste initiative to collect and recycle all of its bottles and cans by 2030. Bottles will be made with an average of 50% recycled material in 12 years with a long term target of using 100% recycled material. The soda company is also researching and developing plant based packaging products in order to reduce the use of plastic.


Amazon will increase the monthly fee for its Prime members from $10.99 to $12.99 while maintaining its annual membership at $99. Prime members receive free two-day shipping as well as streaming service and unlimited photo storage. Analysts estimate that there are 90 million Prime members who spend an average of $1,300 per year compared with non-members who spend approximately $700 per year.


A settlement agreement between car owners and General Motors over faulty ignition switches has been thrown out by a bankruptcy judge. The car maker had agreed to pay $1 billion to settle approximately 500 personal injury and wrongful death claims but the agreement was never signed. The judge said that the agreement was unenforceable.


In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 3 on the NYSE and by more than 7 to 3 on Nasdaq. The broader S&P 500 rose 5 points to 2,803. Bitcoin added $14 to $11,308.


The markets opened mixed with the Dow losing 30 points to 26,087 as consumer sentiment unexpectedly fell in January. Nasdaq gained 16 points to 7312.


On the upside


Nomura Instinet said that Square (NYSE: SQ) had the potential to surge 59% in 2018.


Nasdaq wrote that buying Momo (Nasdaq: MOMO) was an inexpensive way to invest in Chinese internet stocks.


Macquarie Research upgraded Hertz (NYSE: HTZ) fro a Neutral rating to an Outperform rating and lifted its price target from $26.00 to $30.00.

 

On the downside 


International Business Machines (NYSE: IBM) forecast 2018 earnings below expectations.


Shares of General Electric (NYSE: GE) fell for the sixth day.


Atlassian (Nasdaq: TEAM) widened second quarter losses and forecast current quarter earnings below expectations.


In the broad market, declining issues outpaced advancers by a margin of nearly 6 to 5 on the NYSE and by more than 5 to 4 on Nasdaq. The broader S&P 500 rose 4 points to 2,802. Bitcoin climbed $211 to $11,505.


A potential government shutdown weighed the markets down to a lower close with the Dow tumbling 97 points to 26,017. Nasdaq slipped 2 points to 7296.


On the upside


GNC Holdings (NYSE: GNC) reported a strong 5.7% gain in fourth quarter same store sales and forecast fourth quarter earnings well ahead of estimates.


Five Oaks Investment (NYSE: OAKS) entered an agreement with Hunt Investment Management to provide Five Oaks with a new strategic direction.


Electro Scientific Industries (Nasdaq: ESIO) reported preliminary third quarter earnings that surpassed previous guidance.


On the downside 


Shares of Adtran (Nasdaq: ADTN) extended its losses.


Paratek Pharmaceuticals (Nasdaq: PRTK) sold approximately 3.2 million common shares for an estimated $50 million.


Innovative Industrial Properties (NYSE: IIPR) priced its public offering of 2.8 million common shares at the discounted price of $26.00 per share.


In the broad market, declining issues outpaced advancers by a margin of more than 5 to 2 on the NYSE and by more than 5 to 3 on Nasdaq. The broader S&P 500 lost 4 points to 2,798. Bitcoin soared $328 to $11,440.


Nintendo Labo taps player creativity

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The markets traded mixed during the midday with the Dow falling 55 points to 26,060. Nasdaq gained 11 points to 7309.


Nintendo introduced the Labo cardboard accessory kit for its popular Switch that transforms the gaming system into fishing rods, pianos and houses. Users assemble the accessories then play interactively with the Toy-Cons. While the Labo, which releases on April 20, is aimed at younger players, adults have embraced the do-it-yourself creativity of the Toy-Con.


Amazon has narrowed the list of potential locations of its second corporate headquarters to twenty cities across the country from Boston and New York City on the east coast to Columbus, Ohio and Indianapolis in the midwest, Nashville and Raleigh, North Carolina in the south and Los Angeles on the west coast. The online retailer will work with officials from each site to explore the feasibility of building a new campus and creating 50,000 jobs. The final location will be announced later this year.


Qualcomm's proposed $38 billion acquisition of NXP Semiconductors has been approved by European Union antitrust regulators subject to certain concessions. Qualcomm has agreed to offer licenses for NXP's MIFARE at current terms and rates for the next eight years. NXP's NFC patents will be transferred to a third party that will offer patent licenses for three years with no royalty fees.


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 edged up a fraction to 2,803. Bitcoin soared $548 to $11,660.


Mixed open as housing starts fall

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The markets opened mixed with the Dow rising 34 points to 26,149 while Nasdaq slipped 5 points to 7293 as housing starts fell more than expected in December.


On the upside


ValueAct Capital Management acquired a stake in AES (NYSE: AES).


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


Bargain hunters lifted shares of Exact Sciences (Nasdaq: EXAS).


On the downside 


Alcoa (NYSE: AA) widened fourth quarter losses more than expected.


Shares of Albermarle (NYSE: ALB) extended its losses.


Fourth quarter revenue for Bank of New York Mellon (NYSE: BK) 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 held steady at 2,802. Bitcoin leaped $713 to $11,825.


Investor expectation for strong earnings boosted the markets to close sharply higher with the Dow vaulting 322 points to 26,115. Nasdaq soared 74 points to 7298.


On the upside


Ichor Holdings (Nasdaq: ICHR) reported preliminary fourth quarter results that topped estimates.


Bargain hunters lifted shares of Eastman Kodak (NYSE: KODK).


Barclays analyst Mark Moskowitz upgraded Pure Storage (NYSE: PSTG) from an Equal Weight rating to an Overweight rating and lifted his price target from $19.00 to $22.00.


On the downside 


Aerohive Networks (NYSE: HIVE) warned that fourth quarter revenue would fall short of previous guidance.


A10 Networks (NYSE: ATEN) reported preliminary fourth quarter revenue that missed its prior guidance.


Telsey Advisory Group analyst Cristina Fernandez downgraded Ethan Allen Interiors (NYSE: ETH) from an Outperform rating to a Market Perform rating and cut her price target from $33.00 to $27.00.


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 surged 26 points to 2,802. Bitcoin soared $266 to $11,269.


FTC investigates Broadcom

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The markets continued to advance during the midday with the Dow rocketing 287 points to 26,080. Nasdaq surged 76 points to 7300.


Broadcom is being investigated by the Federal Trade Commission for possible antitrust practices. Subpoenas have been issued for a significant amount of information regarding negotiations with customers. The chipmaker reportedly changed customer contracts to require the purchase of a certain percentage of products rather than a specific number of products.


Apple announced plans to invest billions in this country. Under the new tax law, the iPhone maker will pay $38 billion in taxes to the U.S. government for overseas profits. The company will also open a second corporate campus, hire more than 20,000 people and spend $55 billion on suppliers and manufacturers.


Walmart will begin offering a free opioid disposal product to all patients who fill a new Class II opioid prescription. The leftover medication will be turned into a harmless biodegradable gel by DisposeRX. The Food and Drug Administration considers the chemicals that are used in DisposeRX to be safe.


In the broad market, advancing issues outpaced decliners by a margin of nearly 7 to 3 on both the NYSE and on Nasdaq. The broader S&P 500 soared 28 points to 2,804. Bitcoin collapsed $592 to $10,410


Markets surge at open

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The markets surged to a sharply higher open on upbeat earnings with the Dow leaping 118 points to 25,910. Nasdaq gained 34 points to 7257.


On the upside


Celgene (Nasdaq: CELG) engaged in discussions to potentially buy Juno Therapeutics (Nasdaq: JUNO).


Roku (Nasdaq: ROKU) introduced its new Ad Insights suite that allows marketers to measure campaign reach and effectiveness across linear and over-the-top ads.


Stifel Financial increased its holdings in Momo (Nasdaq: MOMO) by 53.3%.


On the downside 


Deutsche Bank analyst Andrew Peters slashed his price target on Halozyme (Nasdaq: HALO) from $19.00 to $2.00.


Adient (NYSE: ADNT) entered a joint venture with Boeing (NYSE: BA) to develop, manufacture and sell airplane seats but Adient began trading ex-dividend today which sent the stock price plummeting.


Ford (NYSE: F) reported preliminary 2017 results that fell short of expectations and forecast disappointing 2018 results.


In the broad market, advancing issues outpaced decliners by a margin of more than 2 to 1 on the NYSE and by nearly 7 to 3 on Nasdaq. The broader S&P 500 gained 8 points to 2,784. Bitcoin collapsed $1,453 to $9,550


Lower close as crude oil retreats

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Falling crude oil prices weighed the markets down to a modestly lower close with the Dow slipping 10 points to 25,792. Nasdaq fell 37 points to 7223.


On the upside


Barclays upgraded Smart & Final (NYSE: SFS) from an Equal Weight rating to an Overweight rating and lifted its price target from $8.00 to $12.00.


Credit Suisse upgraded Goldcorp (NYSE: GG) from a Neutral rating to an Outperform rating and raised its price target from $15.50 to $19.00.


Bernstein upgraded Vipshop Holdings (NYSE: VIPS) from a Market Perform rating to an Outperform rating and increased its price target from $9.20 to $23.50.


On the downside 


Shares of Hertz (NYSE: HTZ) tumbled after rival Avis Budget Group (Nasdaq: CAR) adopted a poison pill.


Analysts expect Aptevo Therapeutics (Nasdaq: APVO) to fall to a loss for the current quarter.


AveXis (Nasdaq: AVXS) will sell up to $400 million of its common stock through a public offering.


In the broad market, advancing issues outpaced decliners by a margin of more than 2 to 1 on the NYSE and by nearly 7 to 3 on Nasdaq. The broader S&P 500 lost 9 points to 2,776. Bitcoin crashed $3,274 to $10,535


The markets retreated to trade lower during the midday with the Dow slipping 15 points to 25,787. Nasdaq lost 32 points to 7228.


As part of the company's shift to healthier products, Nestle will sell its U.S. confectionary business to Nutella maker Ferrero for approximately $2.8 billion. Sales of Nestle's popular sweets such as Baby Ruth, Butterfinger, Crunch, Laffy Taffy and Raisinets to the American market reached nearly $900 million in 2016. Nestle will maintain ownership of its Toll House baking brand and KitKat chocolate bar.


Citigroup will close the wage gap between different demographic groups by increasing the compensation of women and minorities in the United States, United Kingdom and Germany. An internal survey conducted in the three countries revealed disparities in pay between white male employees and women and minority employees. The median pay differential among the banking industry is approximately 24%.


IBM will enter a joint venture with A.P. Moller-Maersk Group to improve efficiencies for the global shipping industry. A new platform based on blockchain technology will digitize the industry creating faster trade and slashing costs. Shipping companies, freight forwarders, ocean carriers as well as customs and port authorities will be able to manage and track shipping containers around the world.


In the broad market, declining issues outpaced advancers by a margin of more than 5 to 3 on the NYSE and by 2 to 1 on Nasdaq. The broader S&P 500 lost 9 points to 2,776. Bitcoin crashed $2,089 to $11,720.


Markets soar on upbeat earnings

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Upbeat earnings sent the markets soaring to a sharply higher open with the Dow jumping 184 points to 25,987. Nasdaq gained 46 points to 7307.


On the upside


Blackhawk Network Holdings (Nasdaq: HAWK) will be acquired by Silver Lake and P2 Capital partners in an all cash deal valued at approximately $3.5 billion.


Bernstein upgraded Vipshop Holdings (NYSE: VIPS) from a Market Perform rating to an Outperform rating and lifted its price target from $9.20 to $23.50.


Energizer Holdings (NYSE: ENR) will pay approximately $2 billion to acquire the battery and portable lighting business of Spectrum Brands (NYSE: SPB).


On the downside 


Avis Budget Group (Nasdaq: CAR) announced preliminary full year results and adopted a one year stockholder rights plan.


Tesaro (Nasdaq: TSRO) updated the packaging for its VARUBI injectable emulsion to include a warning about anaphylactic shock.


Tiger BioPharmaceuticals (Nasdaq: EIGR) reported disappointing results from a Phase 2 LIBERTY study in pulmonary arterial hypertension.


In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 2 on the NYSE and by nearly 7 to 3 on Nasdaq. The broader S&P 500 gained 12 points to 2,798. Bitcoin crashed $1,909 to $11,900.


U.S. markets closed

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U.S. markets are closed in observance of Dr. Martin Luther King Jr. Day.

Markets soar as CPI rise 0.3%

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The Consumer Price Index rose a healthy 0.3% last month to lift the markets to a sharply higher close with the Dow leaping 228 points to 25,803. Nasdaq climbed 49 points to 7261.


On the upside


Shares of Liberty Oilfield Services (NYSE: LBRT) surged in its market debut.


Atara Biotherapeutics (Nasdaq: ATRA) stock climbed for the fourth day in a row.


Intexon's (NYSE: XON) majority owned subsidiary AquaBounty Technologies (Nasdaq: AQB) priced its public offering of nearly 3.7 million common shares at $3.25 per share.


On the downside 


Share of Invitae (NYSE: NVTA) extended its losses.


Concert Pharmaceuticals (Nasdaq: CNCE) was not granted a Post Grant Review petition challenging the validity of an Incyte Pharmaceutical (Nasdaq: INCY) patent.


Xunlei (Nasdaq: XNET) exhibited its OneThing Cloud at CES 2018.


In the broad market, advancing issues outpaced decliners by a margin of nearly 6 to 5 on the NYSE and by more than 3 to 2 on Nasdaq. The broader S&P 500 soared 18 points to 2,786. Bitcoin slipped $7 to $13,585.


Higher open as retail sales rise

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Retail sales rose 0.4% in December to lift the markets to a higher open with the Dow climbing 64 points to 25,638. Nasdaq slipped 3 points to 7208.


On the upside


Shares of Rite Aid (NYSE: RAD) climbed for the fourth day in a row.


Synaptics (Nasdaq: SYNA) stock continued to advance.


Shares of Twitter (NYSE: TWTR) rose after Facebook (Nasdaq: FB) announced changes to its news feed that could lower its ad revenue.


On the downside 


Morgan Stanley downgraded Etsy (Nasdaq: ETSY) from an Equal Weight rating to an Underweight rating.


Facebook (Nasdaq: FB) will change its news feed to present more stories from users' friends and families over those created by companies.


Former Aflac (NYSE: AFL) employees have sued the insurance firm for exploitation.


In the broad market, advancing issues outpaced decliners by a margin of more than 4 to 3 on the NYSE and by 5 to 3 on Nasdaq. The broader S&P 500 added 3 points to 2,770. Bitcoin leaped $828 to $13,894.


Rising crude oil prices lifted the markets to a sharply higher close with the Dow jumping 205 points to 25,574. Nasdaq soared 58 points to 7211.


On the upside


Bloomberg reported that Blackstone and Carlyle may be interested in acquiring Pitney Bowes (NYSE: PBI).


Progress Software (Nasdaq: PRGS) reversed year ago losses to post a profit for the fourth quarter.


Shares of Energy XXI Gulf Coast (Nasdaq:EXXI) continued to climb.


On the downside 


J.P.Morgan Chase sold some of its holdings in Arena Pharmaceuticals (Nasdaq: ARNA).


Shares of Axovant Sciences (Nasdaq: AXON) fell again.


Orchid Island Capital (NYSE: ORC) declared a quarterly dividend of $0.11 per share payable on February 9, 2018 to shareholder of record on January 31, 2018 but the stock price fell.


In the broad market, advancing issues outpaced decliners by a margin of 7 to 2 on the NYSE and by nearly 7 to 2 on Nasdaq. The broader S&P 500 climbed 19 points to 2,767. Bitcoin collapsed $1,176 to $13,301.


Walmart to increase hourly wage

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The markets extended its gains during the midday with the Dow leaping 145 points to 25,514. Nasdaq climbed 43 points to 7197.


Walmart will increase its entry level hourly wage from $10 per hour to $11 per hour for workers in the U.S. beginning in February. The world's largest retailer credited the new tax law which slashes the corporate tax rate from 35% to 21% for making the raises possible. Bonuses of up to $1,000 will also be given to workers.


MoneyGram has partnered with Ripple to pilot a program that transfers funds using the cryptocurrency. The arrangement is expected to lower the cost of transferring money. The transaction time will also plunge to 2-3 second from the current time of between 15 minutes to an hour.


Tivo sued Comcast again for patent infringement. The International Trade Commission ruled in favor of Tivo last year by ruling that Comcast infringed on two patents. The current suit alleges infringement on patents dealing with video recording functions such as pausing and resuming shows on different devices.


In the broad market, advancing issues outpaced decliners by a margin of nearly 3 to 1 on both the NYSE and on Nasdaq. The broader S&P 500 gained 14 points to 2,762. Bitcoin collapsed $644 to $13,834.


Wholesale prices eased 0.1% in December but the markets opened higher with the Dow gaining 29 points to 25,398 as crude oil prices edged up. Nasdaq rose 15 points to 7168.


On the upside


KB Home (NYSE: KBH) reported higher fourth quarter earnings that topped analyst estimates.


In response to widespread flu activity, Rite Aid (NYSE: RAD) is urging people to get the flu vaccine.


Shanda Group increased its holdings in Community Health Systems (NYSE: CYH).


On the downside 


Alamos Gold (NYSE: AGI) reported record gold production and sales for the fourth quarter but the stock price fell.


Investors locked in profits on Eastman Kodak (NYSE: KODK).


Profit taking weighed down shares of Cogint (Nasdaq: COGT).


In the broad market, advancing issues outpaced decliners by a margin of more than 3 to 1 on the NYSE and by 2 to 1 on Nasdaq. The broader S&P 500 rose 4 points to 2,752. Bitcoin crashed $793 to $13,685.


The markets closed lower with the Dow slipping 16 points to 25,369 after Canada filed a complaint with the World Trade Organization against the United States. Nasdaq lost 10 points to 7153.


On the upside


Shares of Eastman Kodak (NYSE: KODK) surged again.


DST Systems (NYSE: DST) may be acquired by SS&C Technologies (Nasdaq: SSNC).


Tandem Diabetes Care (Nasdaq: TNDM) reported sharply higher preliminary fourth quarter revenue.


On the downside 


Third quarter revenue for Supervalu (NYSE: SVU) fell short of expectations.


Shares of Ambarella (Nasdaq: AMBA) extended its losses.


Zacks Investment Research lifted its full year earnings expectations for Arrowhead Pharmaceuticals (Nasdaq: ARWR) but the stock price fell.


In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 3 on the NYSE and by nearly 6 to 5 on Nasdaq. The broader S&P 500 slipped 3 points to 2,748. Bitcoin gained $41 to $14,460.


Four new Diet Coke flavors

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The markets traded mixed during the midday with the Dow adding 4 points to 25,390. Nasdaq lost 19 points to 7144.


Coca-Cola announced four new flavors of its zero calorie Diet Coke that will be available at the end of the month. Feisty Cherry, Ginger Lime, Twisted Mango and Zesty Blood Orange will come in a redesigned skinny 12-ounce can. The adventurous new flavors are being marketed to millennials.


Boeing introduced a new autonomous electric cargo air vehicle with the capacity for a 500 pound load. The autonomous vehicle is powered by an electric propulsion system and fitted with eight counter rotating blades that allow the aircraft to take-off and land vertically. Boeing expects the prototype to have many uses beyond cargo delivery.


Owners of the F-250 and F-350 Super Duty trucks have sued Ford for emissions cheating. The lawsuit alleges that the car maker installed software that would allow the trucks to pass emissions tests but released emissions that were at least double the legal limit when the truck was being driven under normal circumstances. German auto supplier Robert Bosch was also named as a defendant in the lawsuit. 


In the broad market, declining issues outpaced advancers by a margin of nearly 3 to 2 on the NYSE and by 9 to 8 on Nasdaq. The broader S&P 500 slipped 2 points to 2,748. Bitcoin climbed $151 to $14,570.


The markets opened lower with the Dow losing 37 points to 25,348 over a report that China may stop buying U.S. bonds. Nasdaq fell 34 points to 7129.


On the upside


AmTrust Financial Services (Nasdaq: AFSI) appointed a special committee to consider a proposal from Stone Point Capital, chief executive George Karfunkel and Leah Karfunkel.


Shares of Global Blood Therapeutics (Nasdaq: GBT) extended its gains.


Citi upgraded Cloudera (NYSE: CLDR) from a Neutral rating to a Buy rating and lifted its price target from $18.00 to $24.00.


On the downside 


NetScout Systems (Nasdaq: NTCT) cut its full year forecast.


Signet Jewelers (NYSE: SIG) reported a drop in holiday sales.


Domino's Pizza (NYSE: DPZ) chief executive Patrick Doyle will depart the company in June.


In the broad market, declining issues outpaced advancers by a margin of more than 7 to 3 on the NYSE and by nearly 2 to 1 on Nasdaq. The broader S&P 500 lost 6 points to 2,745. Bitcoin crashed $698 to $13,720.


Rising crude oil prices lifted the markets to a sharply higher close with the Dow soaring 102 points to 25,385. Nasdaq rose 6 points to 7163.


On the upside


Eastman Kodak (NYSE: KODK) will launch its own KodakCoin cryptocurrency for photographers.


Boston Scientific (NYSE: BSX) reported higher preliminary fourth quarter revenue that topped analyst estimates.


Shares of Alder Biopharmaceuticals  (Nasdaq: ALDR) extended its gains.


On the downside 


An independent data monitoring committee recommended that Axsome Therapeutics (Nasdaq: AXSM) discontinue its CREATE-1 trial of AXS-02.


Big 5 Sporting Goods (Nasdaq: BGFV) reported lower fourth quarter revenue as same store sales dropped and warned of losses.


e.l.f. Beauty (NYSE: ELF) affirmed its 2017 guidance.


In the broad market, declining issues outpaced advancers by a margin of nearly 3 to 2 on the NYSE and by 6 to 5 on Nasdaq. The broader S&P 500 added 3 points to 2,751. Bitcoin fell $40 to $14,616.


The markets extended its gains during the midday with the Dow leaping 131 points to 25,414. Nasdaq gained 18 points to 7175.


Toyota has expanded its recall of vehicles with Takata front passenger air bags to include an additional 601,300 cars in the United States. The air bag inflators can potentially inflate with excessive force and spray metal fragments causing injury. Over 100 million Takata air bag inflators have been recalled worldwide to fix the defective inflators.


Intel said that its Mobileye autonomous vehicle technology will be used by 2 million vehicles to create maps for self-driving cars. BMW, Nissan and Volkswagen have partnered with the chipmaker to build the support systems necessary for autonomous cars to successfully navigate roads. SAIC Motor will develop driverless cars in China using Mobileye technology.


In response to a request by two major shareholders, Apple has committed to including more robust parental controls to its devices. No specific tools were mentioned but the technology company said that more options will be made available to parents to monitor and control what their children do on iPhones and iPads. The California State Teachers' Retirement System and Jana Partners sent a letter to Apple yesterday outlining their concerns about smartphone addiction among children and youth.


In the broad market, declining issues outpaced advancers by a margin of 5 to 4 on the NYSE while advancers were on par with decliners on Nasdaq. The broader S&P 500 gained 8 points to 2,756. Bitcoin climbed $97 to $14,754.


Higher open as CES begins

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The markets opened higher with the Dow rising 29 points to 25,312 as the annual Consumer Electronics Show began in Las Vegas. Nasdaq gained 17 points to 7174.


On the upside


Altice (NYSE: ATUS) will spinoff its Altice USA unit into a separate business and rename itself Altice Europe.


Pain Therapeutics (Nasdaq: PTIE) reported positive results from a human abuse potential study of its late stage drug candidate REMOXY.


The Food and Drug Administration granted Breakthrough Therapy Designation to Global Blood Therapeutics' (Nasdaq: GBT) voxelotor to treat sickle cell disease.


On the downside 


Express (NYSE: EXPR) cut its fourth quarter forecast after disappointing holiday sales.


Acuity Brands (NYSE: AYI) reported lower first quarter earnings and revenue.


Urban Outfitters (Nasdaq: URBN) reported same store sales for November and December that fell short of expectations.


In the broad market, declining issues barely edged out advancers by a slim margin on the NYSE while advancers outpaced decliners by 5 to 4 on Nasdaq. The broader S&P 500 rose 4 points to 2,751. Bitcoin tumbled $192 to $14,464.


Mixed close ahead of earnings

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The markets closed mixed with the Dow slipping 12 points to 25,283 ahead of earnings season. Nasdaq gained 20 points to 7157.


On the upside


Novo Nordisk made an unsolicited $3.1 billion offer to acquire Ablynx (Nasdaq: ABLX).


The Food and Drug Administration approved Nevro's (NYSE: NVRO) next generation Senza II Spinal Cord Stimulation System.


Tandem Diabetes Care (Nasdaq: TNDM) successfully completed the first pilot study using a hybrid closed loop system featuring its t:slim X2 Insulin Pump.


On the downside 


Oxford Immunotec Global (Nasdaq: OXFD) reported preliminary fourth quarter revenue that fell short of previous guidance.


Natus Medical (Nasdaq: BABY) reported preliminary fourth quarter revenue that was lower than expected.


Invitae (NYSE: NVTA) forecast disappointing 2018 revenue.


In the broad market, advancing issues outpaced decliners by a margin of nearly 3 to 2 on the NYSE while advancers were on par with decliners on Nasdaq. The broader S&P 500 rose 4 points to 2,747. Bitcoin gained $117 to $14,774.


Ford unveils diesel F-150

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The markets traded mixed during the midday with the Dow losing 27 points to 25,268. Nasdaq gained 16 points to 7153.


Ford has redesigned the engine of its popular F-150 pickup truck to support diesel. The new 3-liter, 6-cylinder diesel engine will get an impressive 30 miles per gallon while maintaining the F-150's reputation as having the most powerful towing and hauling capabilities. The diesel pickup was tested in extreme temperatures.


A lawsuit alleging that Starbucks overcharged customers was dismissed. Plaintiffs claimed that the coffee chain underfilled latte orders by approximately 25% in order to lower its milk expenses. Starbucks asserted that its cups contained more than the advertised amount for each drink.


Toyota announced its new e-Palette self-driving concept vehicle that can be customized for different uses. Three sizes will be available for ride hailing, shuttle services or package deliveries. The Japanese automaker will work with Amazon, Didi Chuxing Technology, Pizza Hut and others to design and build the hardware and software for the new fleet of autonomous electric vehicles.


In the broad market, advancing issues outpaced decliners by a margin of more than 4 to 3 on the NYSE while advancers barely edged out decliners by a slim margin on Nasdaq. The broader S&P 500 added 2 points to 2,745. Bitcoin plunged $1,619 to $14,819.


Flat open as tech stocks retreat

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The markets opened flat with the Dow adding 13 points to 25,308 as technology stocks retreated. Nasdaq eased a point to 7135.


On the upside


LightInTheBox Holding (NYSE: LITB) will begin accepting bitcoin.


Alder Biopharmaceuticals (Nasdaq: ALDR) reported positive results from a Phase 3 PROMISE 2 clinical trial of eptinezumab.


Seagate Technology (Nasdaq: STX) invested in Ripple Labs.


On the downside 


Axovant Sciences (Nasdaq: AXON) reported disappointing results from a Phase 2b HEADWAY and a pilot Phase 2 Gait and Balance study of intepirdine.


GoPro (Nasdaq: GPRO) will eliminate 20% of its positions and exit the drone business.


Dave & Buster's Entertainment (Nasdaq: PLAY) cut its full year forecast.


In the broad market, declining issues outpaced advancers by a margin of 5 to 4 on the NYSE and by more than 5 to 3 on Nasdaq. The broader S&P 500 eased a point to 2,742. Bitcoin plunged $1714 to $14,725.


The markets surged to close sharply higher with the Dow jumping 220 points to 25,295 even as job growth slowed in December. Nasdaq climbed 58 points to 7136.


On the upside


Momenta Pharmaceuticals (Nasdaq: MNTA) reported positive data from a Phase 1 study of M281.


CRISPR Therapeutics (Nasdaq: CRSP) priced its pubic offering of 5 million common shares at the discounted price of $22.75 peshare.


Diplomat Pharmacy (NYSE: DPLO) appointed Jeff Park as interim chief executive officer and affirmed its 2017 guidance.


On the downside 


Kala Pharmaceuticals (Nasdaq: KALA) reported mixed results from two Phase 3 trials of KPI-121 to treat dry eye disease.


Core-Mark Holding (Nasdaq: CORE) warned that 2017 earnings will fall far short of previous guidance.


Regenxbio (Nasdaq: RGNX) provided a year end update.


In the broad market, advancing issues outpaced decliners by a margin of more than 3 to 2 on the NYSE and by nearly 3 to 2 on Nasdaq. The broader S&P 500 climbed 19 points to 2,743. Bitcoin plummeted $188 to $16,681.


Higher open as payrolls rise

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December payrolls rose by 148,000 to lift the markets to a higher open with the Dow gaining 39 points to 25,114. Nasdaq rose 28 points to 7105.


On the upside


Stifel Nicolaus initiated coverage of Tellurian (Nasdaq: TELL) with a Buy rating.


Robert W. Baird upgraded USG (NYSE: USG) from a Neutral rating to an Outperform rating and lifted its price target from $35.00 to $45.00.


Shares of ChinaCache International Holdings (Nasdaq: CCIH) surged over expectations that the company's unlicensed rivals in China will shut down.


On the downside 


Shares of Roku (Nasdaq: ROKU) extended its losses.


Francesca's Holdings (Nasdaq: FRAN) cut its fourth quarter forecast due to disappointing holiday results.


Barnes & Noble (NYSE: BKS) reported a drop in holiday sales.


In the broad market, advancing issues outpaced decliners by a margin of nearly 3 to 2 on both the NYSE and on Nasdaq. The broader S&P 500 gained 8 points to 2,731. Bitcoin leaped $953 to $16,003.


Higher close on strong jobs data

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Upbeat jobs data lifted the markets to a higher close with the Dow soaring 152 points to 25,075. Nasdaq added 12 points to 7077.


On the upside


The European Medicines Agency accepted ChemoCentryx's (Nasdaq: CCXI) Conditional Marketing Authorization application for avacopan which triggered a milestone payment of $50 million from Vifor Fresenius Medical Care Renal Pharma.


Simply Wall St. wrote that Cheetah Mobile(NYSE: CMCM) was undervalued.


Barron's reported that Morgan Stanley acquired a 5% stake in Xunlei (Nasdaq: XNET).


On the downside 


Shares of Insys Therapeutics (Nasdaq: INSY) plunged after Attorney General Jeff Sessions terminated the federal government's noninterference policy towards states that have legalized marijuana.


Investors locked in profits on Renren (NYSE: RENN).


United Natural Foods (Nasdaq: UNFI) chief executive Steven Spinner sold 49,026 shares of company stock.


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 Nasdaq. The broader S&P 500 climbed 10 points to 2,723. Bitcoin rose $37 to $14,888.


Strong jobs numbers lift markets

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Private employers added a healthy 250,000 jobs in December to lift the markets to a higher open with the Dow rising 42 points to 24,964. The tech-heavy Nasdaq gained 24 points to 7089.


On the upside


An investor group led by Apollo Global Management and Varde Partners will acquire Fortress Investment Group's stake in OneMain Holdings (NYSE: OMF) for approximately $1.4 billion.


A potential security flaw in Intel (Nasdaq: INTC) chips lifted shares of rival Advanced Micro Devices (Nasdaq: AMD).


CVS Health (NYSE: CVS) said that its cash flow will surge by $1.2 billion under the new tax code.


On the downside 


L Brands (NYSE: LB) reported higher holiday sales but year to date sales fell.


Macy's (NYSE: M) will close eleven stores in early 2018.


Investors locked in profits on Roku (Nasdaq: ROKU).


In the broad market, advancing issues outpaced decliners by a margin of more than 3 to 2 on the NYSE and by nearly 3 to 2 Nasdaq. The broader S&P 500 gained 6 points to 2,719. Bitcoin plunged $216 to $14,635.


Tech Stocks Lead Rally

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Tech companies took the lead with the Dow rising 80 points to 24,904. The tech-heavy Nasdaq climbed 42 points to 7050.


On the upside


Roku (Nasdaq: ROKU) will license a voice assistant program to hardware makers selling Roku-branded speakers and audio systems.


Shares of South Carolina energy company Scana (NYSE: SCG) surged after it agreed to be bought by Dominion Energy (NYSE: D) in a $7.9 billion stock deal.


Software maker Oracle (Nasdaq: ORCL) finally joined the new year's rally after stewing on reports that Amazon (Nasdaq: AMZN) and Salesforce (NYSE: CRM) may be building its own database software.


On the downside 


MoneyGram (NYSE: MGI) shares tumbled after it called off a merger with Ant Financial, an affiliate of Jack Ma's tech company Alibaba (Nasdaq: BABA).  It was not able to secure approval of the deal from the Treasury Department which chairs the Committee on Foreign Investment in the United States.


Social media ambassador DJ Khaled signed on to Weight Watchers (NYSE: WTW) to attract more young men to join the program.  The stock eased giving up some of yesterday's gains.


American Airlines (Nasdaq: AAL) and Southwest Airlines (NYSE: LUV) have announced plans to give their employees one-time bonuses of $1000 each as a result of lower potential tax bills.


 

In the broad market, advancing issues outpaced decliners by a margin of 3 to 2 on both the NYSE and Nasdaq. The broader S&P 500 climbed 12 points to 2,708. Bitcoin rose $220 to $15,022.


Optimism that the markets will continue to post strong gains in 2018 boosted the markets on the first trading day of the year with the Dow surging 104 points to 24,824. Nasdaq rocketed 103 points to close at a new record of 7,006.


On the upside


Shares of LexinFintech Holdings (Nasdaq: LX) extended its gains.


Renren (NYSE: RENN) acquired trucking industry social platform Trucker Path for an undisclosed sum.


Intrexon (NYSE: XON) issued its annual CEO letter which rated its 2017 performance an A.


On the downside 


Shares of Express (NYSE: EXPR) fell for the fourth day.


Rent-a-Center (Nasdaq: RCII) chief executive Mark Speese resigned effective immediately


The California State Teachers Retirement System sold 9.6% of its holdings in Puma Biotechnology (Nasdaq: PBYI).

 

In the broad market, advancing issues outpaced decliners by a margin of more than 3 to 2 on the NYSE and by 2 to 1 on Nasdaq. The broader S&P 500 climbed 22 points to 2,695. Bitcoin leaped $1,261 to $14,752.


New year opens on upbeat

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The markets opened the new year on an upbeat with the Dow soaring 90 points to 24,809. Nasdaq gained 34 points to 6,937.


On the upside


Shares of Autohome (NYSE: ATHM) rose ahead of its ex-dividend date tomorrow, January 3.


Stock News Gazette wrote that Vipshop Holdings (NYSE: VIPS) was a better value than AT&T (NYSE: T).


Commercial Metals (NYSE: CMC) will acquire certain U.S. rebar steel mill and fabrication assets from Gerdau (NYSE: GGB).


On the downside 


Weatherford International (NYSE: WFT) sold its North American pressure pumping assets to Schlumberger (NYSE: SLB).


Investors continued to lock in profits on Gain Capital Holdings (NYSE: GCAP)


Cowen slashed its price target on Tesaro (Nasdaq: TSRO) from $125.00 to $80.00.

 

In the broad market, advancing issues outpaced decliners by a margin of more than 2 to 1 on the NYSE and by nearly 3 to 1 on Nasdaq. The broader S&P 500 gained 10 points to 2,683. Bitcoin leaped $334 to $13,825.


U.S. markets closed

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U.S. markets are closed for New Year.

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