February 2018 Archives

The markets retreated in late afternoon trading to close sharply lower with the Dow crashing 380 points to 25,029 over renewed interest rate concerns. Nasdaq tumbled 57 points to 7273.


On the upside


Endocyte (Nasdaq: ECYT) priced its public offering of approximately 17.8 million common shares at $4.20 per share.


Axon Enterprise (Nasdaq: AAXN) reported a smaller than expected loss for the fourth quarter on record revenue.


Student Transportation (Nasdaq: STB) will be acquired by a group of investors led by CDPQ.

 

On the downside 


Frontier Communications (Nasdaq: FTR) widened losses for the fourth quarter and suspended its dividend.


Community Health Systems (NYSE: CYH) widened fourth quarter losses significantly as revenue fell.


Maiden Holdings (Nasdaq: MHLD) widened losses for the fourth quarter.


In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 2 on the NYSE and by 8 to 3 on Nasdaq. The broader S&P 500 plunged 30 points to 2,713. Bitcoin plummeted $107 to $10,644.


The markets traded modestly higher during the midday with the Dow adding 5 points to 25,416. Nasdaq gained 37 points to 7367.


Dick's Sporting Goods will stop selling assault-style rifles and high capacity magazines in all of its stores immediately. The sporting goods retailer removed all military-style semiautomatic rifles from its Dick's stores five years ago after the Sandy Hook Elementary School massacre that killed 20 children and six staff members but its Field & Stream stores continued to carry the weapons. In addition, customers must be over 21 years of age in order to buy a gun at any of its stores.


Pizza Hut has replaced Papa John's as the official pizza sponsor of the NFL. Papa John blamed falling pizza sales on the NFL's inability to resolve player protests during the national anthem. The four year deal grants Pizza Hut exclusive marketing rights to create local deals and fan experiences in the 32 team markets.


Lowe's has expanded its partnership with Sherwin-Williams by becoming the exclusive nationwide home center to offer Minwax, Cabot, Thompson's Water Seal, Purdy, and Krylon paint brands. Sherwin-Williams will now be the only nationwide supplier to Lowe's for interior and exterior paints. Lowe's will also update its paint service desk with an improved product selector display and a simplified and streamlined service model for customers to more easily select a paint product.


In the broad market, advancing issues outpaced decliners by a margin of nearly 6 to 5 on the NYSE and by nearly 9 to 8 on Nasdaq. The broader S&P 500 rose 7 points to 2,751. Bitcoin plummeted $271 to $10,479.


The nation's economic growth was revised downward for the fourth quarter which eased concerns of accelerated interest rate increases. The markets opened higher with the Dow climbing 75 points to 25,485. Nasdaq gained 41 points to 7371.


On the upside


Etsy (Nasdaq: ETSY) swung to a greater than expected profit for the fourth quarter and forecast full year revenue ahead of estimates.


Weight Watchers (NYSE: WTW) impressed with sharply higher fourth quarter earnings that beat analyst expectations by a wide margin.


The TJX Companies (NYSE: TJX) reported higher fourth quarter earnings and revenue, increased its dividend and announced a stock repurchase program.

 

On the downside 


Acadia Pharmaceuticals (Nasdaq: ACAD) reported a loss for the fourth quarter.


Valeant Pharmaceuticals (NYSE: VRX) disappointed with fourth quarter earnings and revenue that fell short of expectations.


Tesaro (Nasdaq: TSRO) widened fourth quarter losses more than expected.


In the broad market, advancing issues outpaced decliners by a margin of nearly 3 to 2 on the NYSE and by nearly 4 to 3 on Nasdaq. The broader S&P 500 rose 9 points to 2,753. Bitcoin plunged $208 to $10,542.


Markets sink on Powell's comments

|

Comments by Federal Reserve chair Jerome Powell sparked speculation that the Fed will increase rates four times this year. The markets plunged to close sharply lower with the Dow crashing 299 points to 25,410. Nasdaq plummeted 91 points to 7330.


On the upside


Bargain hunters lifted shares of Intelsat (NYSE: I).


Mallinckrodt (NYSE: MNK) swung to a greater than expected profit for the fourth quarter.


Underwriters of Stonebridge Biopharma's (Nasdaq: SBBP) public offering of 5 million common shares have partially exercised their option to purchase an additional 255,683 shares of ordinary stock.

 

On the downside 


Akcea Therapeutics (Nasdaq: AKCA) reported a greater than expected loss for the fourth quarter.


Lantheus Holdings (Nasdaq: LNTH) reported sharply higher fourth quarter earnings and appointed Gary J. Pruden, Kenneth J. Pucel and Dr. James H. Thrall to its Board of Directors but the stock price plunged.


NutriSystem (Nasdaq: NTRI) reported higher fourth quarter earnings but the weight loss company forecast 2018 results below expectations.


In the broad market, declining issues outpaced advancers by a margin of 7 to 2 on the NYSE and by more than 3 to 1 on Nasdaq. The broader S&P 500 plunged 35 points to 2,744. Bitcoin leaped $402 to $10,775.


Apple to open AC Wellness clinics

|

The markets retreated during the midday with the Dow plunging 177 points to 25,531. Nasdaq tumbled 62 points to 7358.


Apple will open its own health clinics to provide comprehensive preventative care for its employees. AC Wellness clinics will be staffed with primary care physicians, nurse practitioners, health coaches and a phlebotomist for lab tests. Two clinics will open its doors in Santa Clara County in the spring.


Google's new Clips camera is now available online at the Google store or at brick and mortar Best Buy, B&H Camera and Verizon stores. Clips uses artificial intelligence to automatically take pictures and 6 to 7 second silent videos of special moments in the lives of users. An app allows users to edit the photos and video clips.


Boeing will develop two new Air Force One jumbo jets at a cost of $3.9 billion. The presidential aircraft will be upgraded to include a communications suite, dual auxiliary power units, self defense capabilities and other features. Once the modifications are completed, the Air Force will conduct tests on the planes.


In the broad market, declining issues outpaced advancers by a margin of nearly 3 to 1 on the NYSE and by more than 5 to 2 on Nasdaq. The broader S&P 500 tumbled 22 points to 2,757. Bitcoin soared $321 to $10,693.


The markets opened mixed with the Dow rising 26 points to 25,735 as new orders for capital goods fell last month. Nasdaq slipped 5 points to 7416.


On the upside


Macy's (NYSE: M) reported sharply higher fourth quarter earnings that topped analyst estimates and forecast full year earning ahead of expectations.


Tenet Healthcare (NYSE: THC) reported a smaller than expected loss for the fourth quarter and lifted its full year forecast.


Dillard's (NYSE: DDS) impressed with higher fourth quarter earnings that beat expectations.

 

On the downside 


Fresenius initiated an investigation into Akorn (Nasdaq: AKRX) over data integrity concerns and may cancel its proposed acquisition of Akorn.


Exelixis (Nasdaq: EXEL) reported higher fourth quarter earnings and announced that it will receive a $20 million milestone payment from Daiichi Sankyo but the stock price fell.


Comcast (Nasdaq: CMCSA) has offered $31 billion to acquire British pay-TV provider Sky.


In the broad market, advancing issues outpaced decliners by a margin of more than 4 to 3 on the NYSE and by nearly 4 to 3 on Nasdaq. The broader S&P 500 added a point to 2,780. Bitcoin surged $342 to $10,714.


Markets soar as bond yields slide

|

Falling bond yields sent the markets soaring to a sharply higher close with the Dow vaulting 399 points to 25,709. Nasdaq leaped 84 points to 7421.


On the upside


The European Medicines Agency granted orphan drug designation to Achillion Pharmaceuticals (Nasdaq: ACHN) for its ACH-4471 to treat C3 glomerulopathy.


Shares of Arrowhead Pharmaceuticals (Nasdaq: ARWR) extended its gains.


Artal Group acquired 50,000 shares of Crispr Therapeutics (Nasdaq: CRSP).

 

On the downside 


Telaria (NYSE: TLRA) reported a loss for the fourth quarter.


Fourth quarter earnings for Dean Foods (NYSE: DF) fell short of expectations.


Intelsat (NYSE: I) fell to a loss for the fourth quarter.


In the broad market, advancing issues outpaced decliners by a margin of 2 to 1 on the NYSE and by nearly 2 to 1 on Nasdaq. The broader S&P 500 surged 32 points to 2,779. Bitcoin jumped $734 to $10,420.


Energizer announces new smartphone

|

The markets extended its gains during the midday with the Dow rocketing 349 points to 25,659. Nasdaq surged 72 points to 7409.


Energizer announced that its Hardcase H590S smartphone will last two days on a single charge. The 5,800mAh battery is nearly double the standard 3,000mAh battery. The H590S is equipped with a Mediatek MT6763 chip, 6GB of RAM, 128GB of storage, a 16MP/0.3MP main camera, and a 5.9-inch Gorilla Glass 3 screen.


Apple will reportedly release three new phones in 2018. One smartphone will have a larger screen than the Samsung Galaxy S9 Plus and Samsung Note 8. Another model will be a cheaper phone with some of the key features of the iPhone X and the third phone will most likely be an upgraded iPhone X.


A California appeals court full panel has decided to allow the Federal Trade Commission to move forward with its lawsuit against AT&T. The FTC has alleged that the telecommunications company slowed the data speed of heavy users who were on unlimited data plans without informing the consumers. AT&T claimed that it was exempt from FTC regulation.


In the broad market, advancing issues outpaced decliners by a margin of nearly 4 to 3 on the NYSE and by 6 to 5 on Nasdaq. The broader S&P 500 soared 26 points to 2,773. Bitcoin leaped $554 to $10,240En.


Sales of new homes dropped in January but the markets opened higher with the Dow 94 climbing points to 25,403. Nasdaq gained 36 points to 7373.


On the upside


Bargain hunters lifted shares of Macquarie Infrastructure (NYSE: MIC).


Spectrum Brands (NYSE: SPB) will merge with HRG (NYSE: HRG) in a deal valued at approximately $10 billion.


J.P. Morgan upgraded HP (NYSE: HPQ) from a Neutral rating to an Overweight rating.

 

On the downside 


Jefferies downgraded Mattel (Nasdaq: MAT) from a Hold rating to an Underperform rating.


Morgan Stanley expects lithium prices to tumble 45% by 2021 sending shares of Albermarle (NYSE: ALB) tumbling.


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


In the broad market, advancing issues outpaced decliners by a margin of nearly 4 to 3 on the NYSE and by 6 to 5 on Nasdaq. The broader S&P 500 climbed 10 points to 2,757. Bitcoin leaped $509 to $10,195.


Markets surge as Treasury yields ease

|

The markets surged to close sharply higher with the Dow rocketing 347 points to 25,309 as Treasury yields eased. Nasdaq jumped 127 points to 7337.


On the upside


Financial Engines (Nasdaq: FNGN) reported better than expected earnings for the fourth quarter.


Momo (Nasdaq: MOMO) will acquire Tantan in a cash and stock deal .


New Senior Investment Group (NYSE: SNR) swung to a profit for the fourth quarter.

 

On the downside 


KBR (NYSE: KBR) reported a smaller than expected profit for the fourth quarter and announced plans to buy Stinger Ghaffarian Technologies for $355 million.


Workiva (NYSE: WK) widened losses for the fourth quarter.


LifePoint Health (Nasdaq: LPNT) fell to a loss for the fourth quarter.


In the broad market, advancing issues outpaced decliners by a margin of 9 to 2 on the NYSE and by more than 5 to 2 on Nasdaq. The broader S&P 500 leaped 43 points to 2,747. Bitcoin slipped $24 to $10,136.


Airbnb introduces Airbnb Plus

|

The markets extended its gains during the midday with the Dow soaring 169 points to 25,131. Nasdaq leaped 81 points to 7291.


Airbnb introduced its new Airbnb Plus and Beyond by Airbnb services for the high end traveler. Airbnb Plus offers approximately 2,000 rentals in 13 cities that have met a 100-point quality checklist that includes a fully stocked kitchen with a clean refrigerator, an ironing board, and a bed with a comfortable mattress and soft, clean sheets and blankets. Beyond by Airbnb will launch in the late spring and focus on luxury rentals.


BMW must recall 11,700 vehicles worldwide that were made between 2012 and 2017. The wrong engine management software was installed in the 5-Series and 7-Series high-performance diesel cars that could alter harmful emissions during emissions tests. The German automaker has denied that the software error was an intentional effort to defeat emissions tests. 


BB&T blamed an equipment malfunction for a service outage that froze all online banking, mobile app services and ATM services. Debit, credit and prepaid cards are fully functional. The outage impacted millions of customers in central North Carolina, Atlanta, Philadelphia and the Washington area.


In the broad market, advancing issues outpaced decliners by a margin of nearly 7 to 2 on the NYSE and by nearly 7 to 3 on Nasdaq. The broader S&P 500 soared 25 points to 2,729. Bitcoin gained $70 to $10,028.


Higher open on strong earnings

|

The markets opened higher with the Dow climbing 88 points to 25,050 on strong earnings. Nasdaq gained 51 points to 7261.


On the upside


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


Blue Buffalo Pet Products (Nasdaq: BUFF) will be acquired by General Mills (NYSE: GIS) for approximately $8 billion.


Planet Fitness (NYSE: PLNT) reported a smaller than expected loss for the fourth quarter.

 

On the downside 


Fourth quarter earnings for Universal Display (Nasdaq: OLED) fell short of expectations.


Exact Sciences (Nasdaq: EXAS) reported a loss for the fourth quarter.


BRF (NYSE: BRFS) fell to a loss for the fourth quarter.


In the broad market, advancing issues outpaced decliners 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 gained 12 points to 2,715. Bitcoin surged $383 to $10,341.


Upbeat jobless data lifts markets

|

Upbeat jobless data boosted the markets to a higher close with the Dow soaring 164 points to 24,962. Nasdaq slipped 8 points to 7210.


On the upside


Harsco (NYSE: HSC) reported higher fourth quarter revenue.


Gulfport Energy (Nasdaq: GPOR) swung to a stronger than expected profit for the fourth quarter.


Alteryx (NYSE: AYX) narrowed losses significantly for the fourth quarter as revenue soared.

 

On the downside 


Brookdale Senior Living (NYSE: BKD) rejected an acquisition offer and named chief financial officer Lucinda M Baier to the position of president and chief executive.


Advaxis (Nasdaq: ADXS) priced its public offering of 10 million common shares at the discounted price of $2.00 per share.


SpartanNash (Nasdaq: SPTN) reported higher fourth quarter earnings and revenue but the stock price fell.


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 2 points to 2,703. Bitcoin crashed $557 to $9,928.


Southwest raises upgraded boarding fee

|

The markets surged during the midday with the Dow rocketing 204 points to 25,002. Nasdaq added 9 points to 7228.


Southwest has raised the fee that it charges passengers for a last minute upgraded boarding position. Southwest does not assign passenger seats but instead boards passengers in three groups allowing passengers to choose their own seats. Passengers in high demand markets can pay $50 one way to board in the first group.


Toys R Us blamed disappointing holiday sales for plans to close an additional 200 stores. The toy retailer filed for Chapter 11 bankruptcy protection in September 2017 and announced plans to shutter 182 stores in January 2018. Severance packages will not be offered to hourly workers who will lose their jobs due to the store closures.


UPS has partnered with Workhorse Group to design and build electric delivery trucks. The first set of fifty vans with a range of 100 miles will be tested in Atlanta, Dallas and Los Angeles. UPS expects the use of electric vehicles to improve fuel efficiency by nearly 400%.


In the broad market, advancing issues outpaced decliners by a margin of 2 to 1 on the NYSE and by nearly 6 to 5 on Nasdaq. The broader S&P 500 rose 12 points to 2,713. Bitcoin collapsed $679 to $9,806.


Drop in jobless claims lift markets

|

First time applications for unemployment benefits dropped to its lowest level in nearly 45 years to lift the markets to a higher open with the Dow gaining 58 points to 24,855. Nasdaq climbed 34 points to 7252.


On the upside


Sangamo Therapeutics (Nasdaq: SGMO) entered a global collaboration agreement with Gilead's (Nasdaq: GILD) Kite to develop next generation ex vivo cell therapies to treat cancer.


Whiting Petroleum (NYSE: WLL) reported a smaller than expected loss for the fourth quarter.


Chesapeake Energy (NYSE: CHK) reversed year ago losses to post a stronger than expected profit for the fourth quarter.

 

On the downside 


Macquarie Infrastructure (NYSE: MIC) reported higher fourth quarter earnings due to the new tax law but earnings before taxes fell.


Roku (Nasdaq: ROKU) reported better than expected earnings for the fourth quarter but the company forecast current quarter revenue below estimates.


Wayfair (NYSE: W) widened fourth quarter losses more than expected.


In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 2 on the NYSE and by nearly 3 to 2 on Nasdaq. The broader S&P 500 gained 9 points to 2,710. Bitcoin crashed $515 to $9,970.


Markets tumble as bond yields rise

|

Rising bond yields sent the markets tumbling to a lower close with the Dow plunging 166 points to 24,797. Nasdaq fell 16 points to 7218.


On the upside


Quad/Graphics (NYSE: QUAD) reported higher fourth quarter earnings, declared a quarterly cash dividend of 30 cents per share and acquired marketing solutions provider Ivie & Assoc.


Fate Therapeutics (Nasdaq: FATE) announced that the first patient has been treated in the DIMENSION study of FATE-NK100 to treat advanced solid tumors.


La-Z-Boy (NYSE: LZB) reported higher third quarter revenue that surpassed expectations.

 

On the downside 


Aegean Marine Petroleum Network (NYSE: ANW) warned of losses for the fourth quarter.


Tile Shop Holdings (Nasdaq: TTS) fell to a greater than expected loss for the fourth quarter.


QTS Realty Trust (NYSE: QTS) fell to a fourth quarter loss.


In the broad market, declining issues outpaced advancers by a margin of nearly 6 to 5 on the NYSE while advancers edged out decliners by 5 to 4 on Nasdaq. The broader S&P 500 dropped 14 points to 2,701. Bitcoin collapsed $1,155 to $10,296.


The markets advanced during the midday with the Dow gaining 75 points to 25,040. Nasdaq climbed 52 points to 7286.


Krispy Kreme unveiled a limited edition Hershey's Gold Doughnut that will be available beginning Thursday, February 22 at participating locations. The doughnut combines Krispy Kreme's original glazed doughnut with a salted caramel icing and pieces of Hershey's Gold bar. This is the second collaboration between the doughnut maker and the candy company.


A less expensive service is now available for Uber customers. Express Pool is similar to the carpooling service Uberpool but users will have to walk to a nearby location to meet their ride. Express Pool will be up to 30% cheaper than Uberpool and up to 75% less costly than a regular Uber.


Priceline Group officially changed its name and ticker symbol PCLN to Booking Holdings with a ticker symbol of BKNG. Priceline began as an online travel site where travelers named the price that they were willing to pay for airline tickets. After acquiring companies such as Bookings, Kayak, OpenTable, and Rentalcars.com, Priceline now generates most of its revenue through online reservations of hotel rooms, rental cars, and restaurants.


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 2 on Nasdaq. The broader S&P 500 gained 12 points to 2,728. Bitcoin crashed $971 to $10,480.


Existing home sales fell unexpectedly but the markets opened higher with the Dow rising 24 points to 24,988. Nasdaq gained 24 points to 7258.


On the upside


Advance Auto Parts (NYSE: AAP) reported higher fourth quarter earnings that topped analyst estimates.


Weatherford International (NYSE: WFT) announced a private offering of $600 million of senior notes.


Conduent (NYSE: CNDT) swung to a profit for the fourth quarter.

 

On the downside 


U.S. Silica Holdings (NYSE: SLCA) reported lower than expected earnings for the fourth quarter.


Vonage Holdings (NYSE: VG) fell to a greater than expected loss for the fourth quarter.


Jeld-Wen (NYSE: JELD) fell to a loss for the fourth quarter.


In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 2 on both he NYSE and on Nasdaq. The broader S&P 500 rose 4 points to 2,720. Bitcoin crashed $827 to $10,623.


The markets closed sharply lower with the Dow crashing 254 points to 24,964 as Walmart's disappointing holiday quarter results weighed on investors. Nasdaq slipped 5 points to 7234.


On the upside


Rhone Capital will take Fogo de Chao (Nasdaq: FOGO) private in an all cash deal valued at approximately $560 million.


Voyager Therapeutics (Nasdaq: VYGR) entered an exclusive strategic collaboration and option agreement with AbbVie (NYSE: ABBV) to develop and commercialize vectorized antibodies to treat Alzheimer's disease.


DineEquity (NYSE: DIN) reported sharply higher fourth quarter earnings.

 

On the downside 


Osmotica Pharmaceuticals and Vertical Pharmaceuticals requested a declaratory judgment that Osmotica's OSMOLEX ER does not infringe on certain of Adamas Pharmaceuticals' (Nasdaq: ADMS) patents.


Diana Containerships (Nasdaq: DCIX) widened losses for the fourth quarter.


Fourth quarter earnings plunged for Allegheny Technologies (NYSE: ATI).


In the broad market, declining issues outpaced advancers by a margin of 2 to 1 on the NYSE and by more than 2 to 1 on Nasdaq. The broader S&P 500 dropped 15 points to 2,716. Bitcoin jumped $653 to $11,715.


Google introduces Google Pay

|

The markets traded mixed during the midday with the Dow plunging 183 points to 25,036 while Nasdaq gained 31 points to 7270.


Google introduced its new Google Pay that combines Google Wallet and Android Pay into one app. People with a Google account will be able to use their smartphones to pay for items in brick and mortar stores. Credit cards and gift cards can also be uploaded to the app for use as a payment option.


DirecTV has increased the price of its NFL Sunday Ticket package from $281.94 for a basic package to $293.94. The basic package allows fans to watch any Sunday game that is being played as well as the ability to stream out-of-market games. The price of the NFL Sunday Ticket Max package which includes the Red Zone and Fantasy Zone will now cost $395.94.


Grocery store chain Albertsons announced plans to purchase drug store chain Rite Aid in a cash and stock deal that will create a combined company valued at approximately $24 billion including debt. Merging approximately 2,300 supermarket locations with Rite Aid's 2,569 drug stores will offer customers nearly 4,900 places to shop. The deal is expected to save the companies $375 million per year within three years.


In the broad market, declining issues outpaced advancers 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 lost 7 points to 2,724. Bitcoin surged $511 to $11,573.


Walmart weighs down markets

|

Disappointing results from Walmart sent the markets down to a lower open with the Dow tumbling 95 points to 25,124. Nasdaq fell 30 points to 7209.


On the upside


Qualcomm (Nasdaq: QCOM) increased its offer to buy NXP Semiconductors (Nasdaq: NXPI) from $110 per share to $127.50 per share, or approximately $44 billion.


Noble Energy (NYSE: NBL) reversed year ago losses to post a stronger than expected profit for the fourth quarter.


Mosaic (NYSE: MOS) reported a smaller than expected loss for the fourth quarter.

 

On the downside 


Walmart (NYSE: WMT) disappointed with lower fourth quarter earnings that fell short of expectations.


The Securities and Exchange Commission has issued subpoenas to Ubiquiti Networks (Nasdaq: UBNT) for documents related to its accounting practices, financial information, international trade practices, and auditors.


Citigroup downgraded Snap (NYSE: SNAP) from a Neutral rating to a Sell rating and cut its price target from $18 to $14.


In the broad market, declining issues outpaced advancers by a margin of more than 4 to 3 on the NYSE and by more than 6 to 5 on Nasdaq. The broader S&P 500 fell 10 points to 2,732. Bitcoin leaped $462 to $11,524.


U.S. markets closed

|
U.S. markets are closed for Presidents' Day.

Mixed close after Russians indicted

|

The markets closed mixed with the Dow rising 19 points to 25,219 while Nasdaq lost 16 points to 7239 after 13 Russians were indicted for interfering with the 2016 presidential elections.


On the upside


Citigroup upgraded Calithera Biosciences (Nasdaq: CALA) from a Neutral rating to a Buy rating.


Shares of U.S. Steel (NYSE: X) and AK Steel (NYSE: AKS) soared on news that the Commerce Department recommended the enactment of steep tariffs on foreign steel.


Fourth quarter earnings surged for Cowen (Nasdaq: COWN).

 

On the downside 


Cloud Peak Energy (NYSE: CLD) disappointed with sharply lower fourth quarter earnings that fell short of expectations.


Impinj (Nasdaq: PI) fell to a greater than expected loss for the fourth quarter.


Pacira Pharmaceuticals (Nasdaq: PCRX) will present at the 2018 RBC Capital Markets Healthcare Conference.


In the broad market, advancing issues outpaced decliners by a margin of more than 4 to 3 on both the NYSE and on Nasdaq. The broader S&P 500 added a point to 2,732. Bitcoin tumbled $107 to $10,122.


Walmart may take stake in Flipkart

|

The markets reversed course during the midday with the Dow gaining 41 points to 25,241. Nasdaq added a point to 7258.


Walmart is rumored to be engaged in discussions to acquire a significant stake in Flipkart. The infusion of cash would provide the Indian e-commerce site the resources to fend off a challenge by Amazon, which has plans to spend $5 billion to expand in India. SoftBank invested $2.5 billion last year in Flipkart for a 20% stake which values the company at $12 billion.


The Court of Brussels has ordered Facebook to immediately stop its practice of tracking the online behavior of Belgians through third party websites. Belgium's Privacy Commission sued the social media giant for illegally collecting and storing information about people. Facebook will be fined 250,000 euros per day or up to 100 million euros (approximately $125 million) if the tracking continues.


Uber has changed some of its safety protocols in London in order to regain its operating license that was not renewed in September 2017. A new 24-hour support line will be launched later this year for riders and drivers to report complaints to an actual live person rather than submitting complaints through the Uber app. Passenger complaints that are serious in nature will be forwarded to the police automatically which is a shift from the current practice of encouraging riders to report problems to the police.


In the broad market, advancing issues outpaced decliners 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 rose 6 points to 2,738. Bitcoin plunged $165 to $9,934.


Lower open as import prices rise

|

The markets opened lower with the Dow losing 35 points to 25,165 as import and export prices rose. Nasdaq fell 20 points to 7236.


On the upside


MuleSoft (NYSE: MULE) reported sharply higher fourth quarter earnings and forecast full year results ahead of estimates.


Wendy's (Nasdaq: WEN) lifted its quarterly dividend to 8.5 cents per share payable on March 15 to shareholders of record March 1 and announced a stock repurchase plan of $175 million.


Synchronoss Technologies (Nasdaq: SNCR) has closed the sale of $185 million in preferred stock.

 

On the downside 


Arista Networks (NYSE: ANET) reported higher fourth quarter earnings and revenue but the stock price fell.


VF Corp. (NYSE: VFC) fell to a loss for the fourth quarter.


Cogenex (Nasdaq: CGNX) fell to a loss for the fourth quarter.


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 lost 4 points to 2,727. Bitcoin lost $56 to $10,043.


The markets continued to rally with the Dow rocketing 306 points to close at 25,200 despite a gain in producer prices. Nasdaq leaped 112 points to 7256.


On the upside


The Food and Drug Administration approved the Makena subcutaneous auto injector that was developed by AMAG Pharmaceuticals (Nasdaq: AMAG) and Antares Pharma (Nasdaq: ATRS).


SolarEdge Technologies (Nasdaq: SEDG) reported higher fourth quarter earnings that topped analyst estimates.


Syntel (Nasdaq: SYNT) reported stronger than expected earnings for the fourth quarter.

 

On the downside 


Textainer Group Holdings (NYSE: THG) swung to a profit for the fourth quarter but the stock price tumbled.


Fourth quarter earnings surged for CAI International (NYSE: CAI) due to a tax benefit but the stock price plunged.


Rush Enterprises (Nasdaq: RUSHA) reported sharply higher fourth quarter earnings and revenue but the stock price plummeted.


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 surged 32 points to 2,731. Bitcoin jumped $526 to $9,983.


McDonald's to revamp Happy Meals

|

The markets extended its gains during the midday with the Dow jumping 237 points to 25,130. Nasdaq surged 97 points to 7241.


McDonald's announced plans to redesign its Happy Meals so that they are healthier. All Happy Meals sold in the U.S. will have a maximum of 600 calories with 10% of the calories coming from saturated fat and 10% from added sugar beginning in June. Bottled water will be added as  a drink option while cheeseburgers will only be available upon request.


U.S. Bancorp has agreed to pay civil and criminal penalties totaling $613 million for lax oversight of suspicious transactions. Payday lender Scott Tucker was able to run an illegal scheme because U.S. Bank ignored transaction monitoring alerts. Tucker is now serving a 16 year sentence for laundering millions of dollars through sham bank accounts.


Amazon will settle allegations of Federal Insecticide, Fungicide and Rodenticide Act violations by agreeing to pay more than $1.2 million in penalties. The Environmental Protection Agency has accused the retail giant of allowing third parties to sell illegal pesticides that may dangerous to communities. Amazon has committed to closely monitoring and removing illegal pesticides from its websites.


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 climbed 26 points to 2,724. Bitcoin surged $663 to $10,120.


Producer prices rose last month but the markets extended its rally to open sharply higher with the Dow leaping 154 points to 25,047. Nasdaq climbed 57 points to 7200.


On the upside


Tripadvisor (Nasdaq: TRIP) reported higher fourth quarter revenue that topped analyst estimates and forecast full year earnings ahead of estimates.


Warren Buffet's Berkshire Hathaway acquired a $350 million stake in Teva Pharmaceutical (NYSE: TEVA).


Fourth quarter earnings surged for CenturyLink (NYSE: CTL).

 

On the downside 


NetApp (Nasdaq: NTAP) fell to a loss for the third quarter.


Treehouse Foods (NYSE: THS) widened losses for the fourth quarter and announced plans to close its Visalia facility.


Kinross Gold (NYSE: KGC) disappointed with a smaller than expected profit for the fourth quarter.


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 15 points to 2,713. Bitcoin surged $385 to $9,842.


Retail sales fell more than expected in January which calmed investor concerns that the Federal Reserve would accelerate its rate hikes in order to tame inflation. The markets surged to close sharply higher with the Dow rocketing 253 points to 24,893. Nasdaq leaped 130 points to 7143.


On the upside


Fossil Group (NYSE: FOSL) reported a smaller than expected loss for the fourth quarter.


Criteo (Nasdaq: CRTO) reported higher fourth quarter earnings and revenue.


The Food and Drug Administration has agreed that the available efficacy and safety data for DBV Technologies' (Nasdaq: DBVT) Viaskin Peanut supports submission of a Biologics License Application for the treatment of peanut allergy in children four to 11 years of age.

 

On the downside 


Tetraphase Pharmaceuticals (Nasdaq: TTPH) reported disappointing results from a Phase 3 clinical trial of eravacycline to treat patients with complicated urinary tract infections.


FourWorld Capital issued a report saying that Omeros (Nasdaq: OMER) could potentially default on its term loan.


Investors locked in profits on GNC Holdings (NYSE: GNC).


In the broad market, advancing issues outpaced decliners by a margin of nearly 7 to 3 on the NYSE and by nearly 3 to 1 on Nasdaq. The broader S&P 500 surged 35 points to 2,698. Bitcoin jumped $899 to $9,447.


The markets rebounded during the midday with the Dow soaring 137 points to 24,778. Nasdaq leaped 94 points to 7108.


Apple is reportedly engaged in discussions to purchase NAND flash memory chips from Yangtze Memory Technologies. Currently, SK Hynix, Samsung Electronics, Toshiba and Western Digital supply Apple with memory chips. If a deal is finalized, Yangtze Memory will be the first Chinese company to produce memory chips.


The Federal Aviation Administration has warned that new Pratt & Whitney engines that power the Airbus A320neo may stall. A knife edge seal fracture may cause the engine to shutdown while inflight. Pratt & Whitney continues to make the engines while developing a plan to fix the defect.


Google Chrome will implement new controls to filter ads that appear on websites. Ads that do not adhere to requirements established by Better Ads Standards will not be displayed. A notification will appear on sites where ads have been blocked that will provide users with the option to view the blocked ads.


In the broad market, advancing issues outpaced decliners by a margin of 2 to 1 on the NYSE and by 7 to 3 on Nasdaq. The broader S&P 500 climbed 24 points to 2,687. Bitcoin leaped $807 to $9,356.


A greater than expected gain in the consumer price index sent the markets tumbling to a sharply lower open with the Dow plunging 105 points to 24,535. Nasdaq fell 34 points to 6979.


On the upside


Twilio (NYSE: TWLO) reported a smaller than expected loss for the fourth quarter and forecast stronger than expected revenue for the current quarter and full year.


Chipotle Mexican Grill (NYSE: CMG) named Taco Bell chief executive as its new chief executive.


The Interpublic Group of Companies (NYSE: IPG) reported a stronger than expected profit for the fourth quarter.

 

On the downside 


Groupon (Nasdaq: GRPN) disappointed with a smaller than expected profit for the fourth quarter as revenue fell.


Tanger Factory Outlet Centers (NYSE: SKT) reported higher fourth quarter earnings and revenue but the stock price fell.


Fourth quarter earnings plunged for Omega Healthcare Investors (NYSE: OHI).


In the broad market, declining issues outpaced advancers 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 fell 11 points to 2,651. Bitcoin leaped $631 to $9,179.


The markets closed modestly higher with the Dow rising 39 points to 24,640 on upbeat earnings. Nasdaq gained 31 points to 7013.


On the upside


Zion Oil & Gas (Nasdaq: ZN) found gas and oil in the circulated mud at the bottom of its Megiddo-Jezreel #1 well.


GNC Holdings (NYSE: GNC) announced a $300 million strategic partnership and China joint venture agreement with Harbin Pharmaceutical Group Holding.


Veeco Instruments (Nasdaq: VECO) reported a smaller than expected loss for the fourth quarter.

 

On the downside 


Kadmon Holdings (NYSE: KDMN) reported positive results from an ongoing Phase 2 study of KD025 in patients with idiopathic pulmonary fibrosis who were previously treated with pirfenidone and/or nintedanib.


Affimed (Nasdaq: AFMD) priced its public offering of 11.5 million common shares at the discounted price of $2.00 per share.


Brighthouse Financial (Nasdaq: BHF) disappointed with a smaller than expected profit for the fourth quarter.


In the broad market, advancing issues outpaced decliners by a margin of more than 4 to 3 on the NYSE and by nearly 3 to 2 on Nasdaq. The broader S&P 500 rose 6 points to 2,662. Bitcoin plunged $333 to $8,547.


Google introduces updating email

|

The markets rebounded during the midday with the Dow gaining 55 points to 24,657. Nasdaq rose 22 points to 7004.


Google will introduce new technology that automatically updates emails with new information. Using the software update, an airline will only have to send one email to customers with flight confirmation information. As departure times change, the information will adjust in the original email with no need to send follow-up emails.


An anonymous whistleblower has alleged that trading firms have been manipulating the Cboe Volatility Index to take advantage of investors. A flaw in the way that the index is calculated allows firms to change the index by posting quotes on options without actually executing the trade. The whistleblower claims that billions of dollars per year have been lost by unsuspecting investors.


The third largest shareholder of Xerox has sued to prevent the digital printing solutions provider from merging with Fujifilm. Darwin Deason alleged that an existing joint venture between the two companies, Fuji Xerox, included a lock-up right that was gave Fuji the rights to Xerox's intellectual property in the Asia-Pacific market if Xerox sold its 30% stake in the joint venture to another party. Deason claimed that this agreement dramatically undervalued Xerox while disproportionately favored Fuji.


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 rose 6 points to 2,662. Bitcoin tumbled $330 to $8,549.


Markets retreat on profit taking

|

The markets retreated to open lower with the Dow dropping 61 points to 24,540 as investors locked in profits. Nasdaq fell 39 points to 6942.


On the upside


Under Armour (NYSE: UA) reported higher fourth quarter revenue that topped analyst estimates.


Chegg (NYSE: CHGG) reversed year ago losses to post a stronger than expected profit for the fourth quarter.


AmerisourceBergen (NYSE: ABC) is reportedly the target of a possible acquisition offer by Walgreens Boots Alliance (Nasdaq: WBA).

 

On the downside 


Henry Schein (Nasdaq: HSIC) issued a statement denying antitrust allegations that were made by the Federal Trade Commission.


Patterson Companies (Nasdaq: PDCO) has denied allegations by the Federal Trade Commission that it violated antitrust laws.


Barclay's downgraded Weatherford International (NYSE: WFT) from an Overweight rating to an Equalweight rating.


In the broad market, declining issues outpaced advancers 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 fell 10 points to 2,646. Bitcoin jumped $282 to $8,597.


The markets sustained its rally to close sharply higher with the Dow rocketing 410 points to 24,601. Nasdaq leaped 107 points to 6981.


On the upside


Amber Road (NYSE: AMBR) rejected an unsolicited acquisition offer from E2open and Insight Venture Partners.


Ceragon Networks (Nasdaq: CRNT) reported higher revenue for the fourth quarter.


Enphase Energy (Nasdaq: ENPH) entered a strategic partnership with Panasonic to jointly develop high efficiency AC Modules.

 

On the downside 


Shares of HRG Group (NYSE: HRG) fell for the fourth day.


Investors locked in profits on Overstock.com (Nasdaq: OSTK).


The Food and Drug Administration posted briefing materials for the Anesthetic and Analgesic Drug Products Advisory Committee meeting to review Pacira Pharmaceuticals' (Nasdaq: PCRX) New Drug Application to expand the current label for Exparel.


In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 2 on the NYSE and by nearly 2 to 1 on Nasdaq. The broader S&P 500 surged 36 points to 2,656. Bitcoin jumped $512 to $8,819.


Trading at the midday continued to advance with the Dow leaping 472 points to 24,663. Nasdaq jumped 121 points to 6995.


Consumer goods company Unilever threatened to withdraw its ads from Facebook and Google unless the digital platforms combat the plethora of  objectionable content on their sites. Fake news, racist comments, and sexist posts create division in society that the owner of popular brands such as Ben & Jerry's, Best Foods and Dove will not support. Unilever spent $8.6 billion in advertising in 2017. 


Ford expanded a recall of model year 2006 Ranger pick-up trucks to an additional 33,428 vehicles. Owners have been warned not to drive the vehicles due to a defective air bag inflator that may rupture. Ford will tow the recalled vehicles to a dealership in order to replace the defective part and provide a free loaner vehicle to drivers.


Amazon will be eliminating jobs in its consumer organization which includes retail and marketplace businesses in addition to the Amazon Restaurants food delivery service. Employees can apply to open positions in other units that are expanding such as Amazon Web Services and voice assistant Alexa. The impacted jobs are all located in Seattle.


In the broad market, advancing issues outpaced decliners by a margin of nearly 3 to 1 on the NYSE and by more than 5 to 2 on Nasdaq. The broader S&P 500 soared 39 points to 2,658. Bitcoin leaped $437 to $8,744.


Higher open as market rally continues

|

The markets extended Friday's rally with the Dow soaring 147 points to to open at 24,337. Nasdaq climbed 62 points to 6936.


On the upside


CSRA (NYSE: CSRA) will be acquired by General Dynamics (NYSE: GD) for a premium of approximately $6.8 billion.


Fourth quarter earnings surged three-fold for Restaurant Brands International (NYSE: QSR) as revenue climbed.


Rising gold prices lifted shares of B2Gold (NYSE: BTG).

 

On the downside 


A lawsuit has alleged that Ulta Beauty (Nasdaq: ULTA) resells used make-up as new products.


Wedbush downgraded Lumber Liquidators (NYSE: LL) from an Outperform rating to a Neutral rating and slashed its price target from $39 to $28.


Dycom Industries (NYSE: DY) warned that second quarter results would fall short of previous guidance.


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 17 points to 2,636. Bitcoin soared $265 to $8,571.


Another volatile day for the markets ended sharply higher with the Dow leaping 330 points to 24,190. Nasdaq jumped 97 points to 6874.


On the upside


Wesco Aircraft Holdings (NYSE: WAIR) reported a smaller than expected loss for the first quarter.


MobileIron (Nasdaq: MOBL) narrowed fourth quarter losses, announced that it will provide its MobileIron Web@Work and Docs@Work security services to Cordaan and announced that German Red Cross of Rhineland-Palatinate will use its platform to manage Windows laptops and smartphones.


Unisys (NYSE: UIS) swung to a profit for the fourth quarter.

 

On the downside 


Tandem Diabetes Care (Nasdaq: TNDM) priced its public offering of 30 million shares of common stock at the discounted price of $2.00 per share.


Web.com (Nasdaq: WEB) reported higher fourth quarter earnings and revenue but the stock price fell.


NGL Energy Partners (NYSE: NGL) reported a profit for the third quarter but the gains were mostly due to asset sales.


In the broad market, advancing issues outpaced decliners by a margin of nearly 3 to 2 on the NYSE and by more than 4 to 3 on Nasdaq. The broader S&P 500 surged 38 points to 2,619. Bitcoin soared $233 to $8,828.


Uber settles Waymo suit

|

The markets reversed course during the midday to trade sharply lower with the Dow crashing 489 points to 23,371. Nasdaq tanked 142 points to 6634.


Uber has agreed to pay Waymo a 0.34% equity stake, which is worth approximately $245 million, to settle a stolen trade secrets lawsuit that Waymo had filed against the ride hailing app. Uber also agreed to never use proprietary Waymo information although Uber has consistently argued that it developed its own self driving technology and has never used Waymo's trade secrets. The settlement agreement was made after former Uber CEO Travis Kalanick had already testified for two days.


Amazon will reportedly begin delivering packages from its third party sellers to customers. The new Shipping With Amazon delivery service will be tested in Los Angeles with plans to expand to additional cities and possibly to other businesses later this year. The online retailer will price its service below rival package delivery service providers FedEx and UPS.


Facebook began testing a new downvote button that can be used to hide inappropriate comments. The button is available on a select set of public pages to identify and report offensive or misleading comments. Facebook has clarified that the downvote is not a dislike button but rather a means for users to provide feedback on public comments.


In the broad market, declining issues outpaced advancers by a margin of more than 5 to 1 on the NYSE and by nearly 7 to 2 on Nasdaq. The broader S&P 500 plunged 42 points to 2,538. Bitcoin surged $374 to $8,593.


The markets opened sharply higher with the Dow soaring 132 points to 23,992 after a bipartisan budget deal was signed. Nasdaq surged 86 points to 6863.


On the upside


FireEye (Nasdaq: FEYE) reported record revenue and the company's first ever adjusted profit for the fourth quarter.


Skechers USA (NYSE: SKX) reported a smaller than expected loss for the fourth quarter on record revenue.


Nvidia (Nasdaq: NVDA) reported higher fourth quarter earnings and revenue that beat expectations.

 

On the downside 


Expedia (Nasdaq: EXPE) disappointed with lower fourth quarter earnings that fell short of expectations and forecast 2018 results below estimates.


Fourth quarter earnings for Cboe Global Markets (Nasdaq: CBOE) missed expectations.


NCR (NYSE: NCR) fell to a loss for the fourth quarter.


In the broad market, advancing issues outpaced decliners by a margin of more than 3 to 2 on the NYSE and by more than 5 to 3 on Nasdaq. The broader S&P 500 crashed 100 points to 2,581. Bitcoin soared $230 to $8,450.


Another day of heavy market losses

|

Heavy losses plagued the markets yet again sending the Dow into a freefall to end the day down 1,032 points to close at 24,902. Nasdaq crashed 274 points to 6777.


On the upside


Virtu Financial (Nasdaq: VIRT) reported higher fourth quarter earnings as revenue surged, announced a $50 million share repurchase program and declared a quarterly cash dividend.


Infinera (Nasdaq: INFN) reported a smaller than expected loss for the fourth quarter on higher revenue.


Third quarter earnings rose for Just Energy Group (NYSE: JE).

 

On the downside 


Quantum (NYSE: QTM) delayed the release of its third quarter earnings.


iRobot (Nasdaq: IRBT) reported sharply lower fourth quarter earnings.


Gemphire Therapeutics (Nasdaq: GEMP) priced its public offering of more than 3.1 million common shares at the discounted price of $7.00 per share..


In the broad market, declining issues outpaced advancers by a margin of 8 to 1 on the NYSE and by nearly 6 to 1 on Nasdaq. The broader S&P 500 crashed 100 points to 2,581. Bitcoin soared $398 to $8,258.


The markets plummeted during the midday with the Dow crashing 611 points to 24,281. Nasdaq collapsed 163 points to 6888.


Harley-Davidson has voluntarily recalled more than 251,000 motorcycles around the world due to a potential brake failure. Model years 2008 through 2011 CVO Touring and VSRC motorcycles with anti-lock brakes may experience corrosion and failure of the brake system if the brake fluid is not replaced every two years. The recall will cost Harley-Davidson approximately $29.4 million.


Amazon announced that Prime members in certain locations will now be able to order and receive groceries from Whole Foods within two hours. Items such as fresh produce, meat and seafood will be delivered for free to customers in Austin, Cincinnati, Dallas and Virginia Beach. Ordered items will be packed by hand to maintain the appropriate temperature then delivered by Amazon Flex drivers.


Walmart has shifted its online strategy from selling customers the lowest priced item to items priced over $10. Due to the cost of delivery, moving more expensive items increases the profit margin for the discount retailer. Offering bargain prices at its brick and mortar stores will continue to be the goal of Walmart.


In the broad market, declining issues outpaced advancers by a margin of more than 5 to 1 on the NYSE and by nearly 5 to 1 on Nasdaq. The broader S&P 500 plummeted 56 points to 2,625. Bitcoin climbed $210 to $8,070.


The markets opened flat with the Dow rising 9 points to 24,902 even as first time applications for unemployment benefits dropped last week. Nasdaq gained 16 points to 7067.


On the upside


Twitter (NYSE: TWTR) reported its first ever quarterly profit.


GrubHub (NYSE: GRUB) reported sharply higher fourth quarter earnings and revenue and announced a $200 million investment from KFC owner Yum Brands.


Second quarter earnings more than doubled for Coty (NYSE: COTY) to surpass expectations by a wide margin.

 

On the downside 


Canada Goose (NYSE: GOOS) reported higher third quarter earnings and revenue but investors locked in profits after running up the price ahead of its earnings release.


HanesBrands (NYSE: HBI) fell to a loss for the fourth quarter and forecast current quarter earnings below analyst expectations.


Profit taking weighed down shares of Snap (NYSE: SNAP).


In the broad market, declining 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 added 4 points to 2,685. Bitcoin surged $563 to $8,423.


Lower close after choppy day

|

The markets closed lower with the Dow losing 19 points to 24,893 after a choppy trading day. Nasdaq tumbled 63 points to 7051.


On the upside


Model N (NYSE: MODN) narrowed first quarter losses more than expected as revenue rose.


Weight Watchers (NYSE: WTW) announced new initiatives to strengthen its reputation, expand its business and partner with families to establish healthy habits.


Horizon Global (Nasdaq: HZN) shareholder Marcato Capital Management sent a letter to the Board of Directors outlining a value-maximizing path for the company.

 

On the downside 


Macom Technology Solutions (Nasdaq: MTSI) widened first quarter losses more than expected as revenue fell.


Black Box (Nasdaq: BBOX) fell to a loss for the third quarter.


Extreme Networks (Nasdaq: EXTR) widened losses for the second quarter.


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 dropped 13 points to 2,681. Bitcoin soared $421 to $8,080.


Tronc sells LA Times

|

The markets traded mixed during the midday with the Dow climbing 92 points to 25,005. Nasdaq dropped 31 points to 7084.


Chicago-based newspaper and online media publishing company Tronc will sell the Los Angeles Times, The San Diego Union-Tribune and a few other California newspapers to biotech billionaire Patrick Soon-Shiong for $500 million in cash. The Times, which was founded in 1881 and owned by the Chandler family for more than a century, just welcomed its third editor in six months. The Union-Tribune published its first newspaper in 1868 and was owned by the Copley family for 81 years until 2009 when a series of owners acquired and sold the newspaper over the next nine years.


The European Parliament has overwhelmingly approved a ban on geoblocking for most online content. Many online shopping services restrict the content that a consumer sees based on their location. The ban opens access regardless of residency except for copyrighted material including video streaming, e-books and computer games.


Google is reportedly developing a streaming service for games that is similar to PlayStation Now where users pay a monthly subscription fee to access games. The service was originally designed to work with its Chromecast devices but Google may now be exploring the possibility of making its own game console and controller. Concerns have been raised about creating a robust content delivery infrastructure to ensure smooth gameplay.


In the broad market, advancing issues outpaced decliners by a margin of more than 3 to 2 on the NYSE and by 5 to 4 on Nasdaq. The broader S&P 500 eased a fraction to 2,694. Bitcoin surged $566 to $8,224.


The markets opened lower with the Dow losing 20 points to 24,892 as investors remained cautious after the recent market volatility. Nasdaq fell 29 points to 7086.


On the upside


Snap (NYSE: SNAP) impressed with sharply higher fourth quarter revenue that beat expectations as daily active users rose.


Wynn Resorts (Nasdaq: WYNN) chief executive Steve Wynn resigned amidst allegations of sexual misconduct.


Match Group (Nasdaq: MTCH) reported higher fourth quarter revenue as average paid subscribers surged.

 

On the downside 


Chipotle Mexican Grill (NYSE: CMG) reported higher fourth quarter earnings and revenue but same store sales barely edged up prompting downgrades.


Manhattan Associates (Nasdaq: MANH) reported lower fourth quarter earnings and revenue.


Microchip Technology (Nasdaq: MCHP) fell to a loss for the third quarter.


In the broad market, advancing issues outpaced decliners by a margin of more than 7 to 3 on the NYSE and by 6 to 5 on Nasdaq. The broader S&P 500 lost 5 points to 2,690. Bitcoin soared $611 to $8,269.


The markets staged a comeback in late afternoon trading to close sharply higher with the Dow rocketing 567 points to 24,912. Nasdaq leaped 148 points to 7115.


On the upside


Fabrinet (NYSE: FN) reported stronger than expected earnings and revenue for the second quarter.


Quotient (Nasdaq: QTNT) narrowed losses for the third quarter as revenue climbed and provided an update for the commercial scale-up of MosaiQ.


Second quarter results for Oclaro (Nasdaq: OCLR) topped expectations.

 

On the downside 


Trading on the VelocityShares Daily Inverse VIX (Nasdaq: XIV) was halted after sharp losses yesterday.


8point3 Energy Partners (Nasdaq: CAFD) will be acquired by Capital Dynamics.


A Seeking Alpha contributor has accused NQ Mobile (NYSE: NQ) of transferring two subsidiaries to company chair Vincent Wenyong Shi.


In the broad market, advancing issues outpaced decliners 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 soared 46 points to 2,695. Bitcoin leaped $1,050 to $7,060.


Tyson Foods invests in Tovala

|

The markets recovered from steep early morning losses but continued trading in negative territory during the midday with the Dow dropping 88 points to 24,257. Nasdaq lost 12 points to 6955.


Tyson Foods' venture capital unit Tyson Ventures has invested in smart steam oven maker Tovala. Customers use their smart phones to scan a bar code on prepackaged meals that are delivered by Tovala. The bar code relays cooking instructions to the steam oven. 


Best Buy will reportedly eliminate CDs from its line of products by the end of June. As customers switch to streaming services such as Apple Music, Pandora and Spotify, CD sales have plunged. Global revenue for the recording industry came mostly from digital sales in 2016 with physical format sales coming in at 34%.


After a report that the Consumer Financial Protection Bureau under the new leadership of Mick Mulvaney has scaled back its investigation into the September cyberattack on Equifax, Treasury Secretary Steven Mnuchin said that he would like a report on the investigation. The personal data of more than 145 million people were compromised last year when the credit reporting agency was hacked. In the five months since the attack, no subpoenas have been issued to Equifax and no sworn testimony have been taken from Equifax executives.


In the broad market, declining issues outpaced advancers by a margin of 6 to 5 on the NYSE and by nearly 3 to 2 on Nasdaq. The broader S&P 500 tumbled 18 points to 2,630. Bitcoin surged $484 to $7,294.


Markets extend losses

|

After an historic route yesterday, the markets continued to sink with the Dow plummeting 260 points to 24,085. Nasdaq plunged 130 points to 6837.


On the upside


Skyworks Solutions (Nasdaq: SWKS) reported better than expected earnings for the first quarter, declared a quarterly dividend and announced a stock repurchase plan.


Second quarter earnings and revenue for Lumentum Holdings (Nasdaq: LITE) surged to top estimates.


Micron Technology (Nasdaq: MU) lifted its second quarter guidance and appointed David Zinsner to the position of senior vice president and chief financial officer.

 

On the downside 


Vishay Intertechnology (NYSE: VSH) widened fourth quarter losses more than expected.


Shares of Cboe Global Markets (Nasdaq: CBOE) tumbled after yesterday's steep market losses.


Nutrien (NYSE: NTR) warned of slowing demand growth and lower margins.


In the broad market, advancing issues outpaced decliners 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 plunged 34 points to 2,614. Bitcoin soared $263 to $7,073.


Inflation fears spark steep sell-off

|

Inflation fears sparked the greatest one-day point drop in the history of the Dow. The blue chip index cratered 1,175 points to close at 24,345 while Nasdaq crashed 273 points to 6967.


On the upside


Enphase Energy (Nasdaq: ENPH) entered a securities purchase agreement with an affiliate of Isidoro Quiroga.


Shares of Babcock & Wilcox (NYSE: BW) rebounded.


Guess (NYSE: GES) co-founder Paul Marciano denied sexually harassing actress Kate Upton.

 

On the downside 


Prothena (Nasdaq: PRTA) chief medical officer Sarah Noonberg, MD, PhD has resigned.


Investors locked in profits on ImmunoGen (Nasdaq: IMGN).


Weatherford International (NYSE: WFT) widened losses for the fourth quarter.


In the broad market, declining issues outpaced advancers by a margin of nearly 9 to 1 on the NYSE and by more than 7 to 1 on Nasdaq. The broader S&P 500 collapsed 113 points to 2,648. Bitcoin lost $25 to $6,785.


Best Buy announces bonuses

|

The markets continued falling during the midday with the Dow crashing 395 points to 25,125. Nasdaq tumbled 64 points to 7176.


Best Buy became the latest retailer to announce one-time bonuses for employees due to the tax overhaul plan that slashed corporate taxes from 35% to 21%. Full-time employees will receive $1,000 while part-time workers will be given $500. More than 100,000 workers at the nation's largest consumer electronics retailer will benefit from the bonuses.


Amazon has finalized an agreement to settle a years-long dispute with French authorities over back taxes. The French government has been demanding tax payments from the online retailer for earnings that were made between 2006 to 2010. Details of the settlement terms were not released but France had set the bill at nearly 200 million euros, or approximately $249 million. 


Apple and Cisco have partnered with insurers Allianz and Aon to offer cyber crime insurance discounts to businesses that use Apple and Cisco products.  Businesses will be evaluated by Aon and those that implement recommendations, such as using Cisco Ransomware Defense malware-blocking software, will be eligible for lower cost coverage. In the event of a cyber attack, Cisco or Aon would provide support services.


In the broad market, declining issues outpaced advancers by a margin of nearly 4 to 1 on the NYSE and by nearly 7 to 2 on Nasdaq. The broader S&P 500 plunged 38 points to 2,723. Bitcoin collapsed $1,465 to $6,911.


Markets plunge on rising bond yields

|

Investors continued to dump their holdings in the stock market as bond yields rise. The markets tumbled to open sharply lower with the Dow plummeting 183 points to 25,337. Nasdaq plunged 75 points to 7165.


On the upside


Bunge (NYSE: BG) may be acquired by Archer Daniels Midland (NYSE: ADM).


Xunlei (Nasdaq: XNET) lifted its fourth quarter revenue forecast.


Nokia (NYSE: NOK) and China Unicom will deploy a cloud-native core network based on Nokia AirGile technology in seven Chinese provinces.

 

On the downside 


Teva Pharmaceutical (NYSE: TEVA) submitted a new drug application for a generic version of Corcept's (Nasdaq: CORT) Korlym.


The Federal Reserve banned Wells Fargo & Co. (NYSE: WFC) from increasing its balance sheet until the bank improved its governance and controls.


Kosmos Energy (NYSE: KOS) completed drilling the Requin Tigre-1 exploration well but found no hydrocarbons.


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 tumbled 21 points to 2,741. Bitcoin added $1,016 to $7,360.


Markets crash as bond yields surge

|

Surging bond yields sent the markets tumbling with the Dow crashing 665 points to 25,520. Nasdaq plummeted 144 points to 7240.


On the upside


Viking Therapeutics (Nasdaq: VKTX) priced its public offering of 11 million common shares at the discounted price of $5.00 per share but the stock price climbed.


Shares of FTS International (NYSE: FTSI) soared on its first trading day.


Fourth quarter earnings surged for athenahealth (Nasdaq: ATHN).

 

On the downside 


RBC Capital downgraded Impinj (Nasdaq: PI) from an Outperform rating to a Sector Perform rating.


Acute (Nasdaq: ACET) widened losses for the second quarter.


YRC Worldwide (Nasdaq: YRCW) reported a loss for the fourth quarter.


In the broad market, declining issues outpaced advancers by a margin of nearly 9 to 1 on the NYSE and by nearly 5 to 1 on Nasdaq. The broader S&P 500 plunged 59 points to 2,762. Bitcoin added $32 to $8,798.


Tesla opens kiosks in Home Depot

|

Market losses accelerated during the midday with the Dow crashing 513 points to 25,672. Nasdaq plunged 99 points to 7286.


Tesla has begun marketing its solar panels and Powerwall electricity storage devices at kiosks inside Home Depot. The $6,000 Powerwall stores electricity that is either collected through solar panels or purchased during off-peak hours from the electrical grid. The expansion into Home Depot will greatly increase Tesla's exposure to potential customers.


Dell Technologies continues to explore its business options but has affirmed that it will not sell the company. Dell was publicly traded from 1988 until 2013 when founder Michael Dell and Silver Lake Partners took the company private in a $25 billion deal. Dell has floated the option of merging with its subsidiary VMware.


Allergen announced plans to boost sales in China from approximately $180 million in 2017 to $500 million 2022. An additional 200 Chinese workers will be hired in 2018 to market its products. The Botox-maker is also exploring the option of buying companies in China.


In the broad market, declining issues outpaced advancers by a margin of nearly 9 to 1 on the NYSE and by 9 to 2 on Nasdaq. The broader S&P 500 plummeted 46 points to 2,775. Bitcoin tumbled $201 to $8,688.


Disappointing earnings sent the markets tumbling to open sharply lower with the Dow plunging 125 points to 26,061. Nasdaq dropped 38 points to 7347.


On the upside


Viavi Solutions (Nasdaq: VIAV) reported better than expected results for the second quarter and announced plans to acquire the Test and Measurement business of Cobham.


Mattel (Nasdaq: MAT) fell to an unexpected loss for the fourth quarter but sales of its popular Barbie dolls and Hot Wheels cars rose.


Tableau Software (NYSE: DATA) reported a smaller than expected loss for the fourth quarter.

 

On the downside 


Weatherford International (NYSE: WFT) widened losses for the fourth quarter significantly.


Shell Midstream Partners (NYSE: SHLX) will sell approximately 36 million common units.


Deutsche Bank (NYSE: DB) was fined $70 million for attempting to manipulate a benchmark rate.


In the broad market, declining issues outpaced advancers by a margin of nearly 9 to 1 on the NYSE and by 9 to 2 on Nasdaq. The broader S&P 500 fell 13 points to 2,808. Bitcoin plunged $307 to $8,582.


The markets closed mixed with the Dow rising 37 points to 26,186 as earnings news underwhelmed. Nasdaq fell 25 points to 7385.


On the upside


QuinStreet (Nasdaq: QNST) swung to a profit for the second quarter as revenue climbed.


Zion Oil & Gas (Nasdaq: ZN) announced that it would reach the final total depth at its Megiddo-Jezreel #1 well within days.


Cimpress (Nasdaq: CMPR) reported better than expected results for the second quarter.

 

On the downside 


Profit taking sent shares of Proteostasis Therapeutics (Nasdaq: PTI) tumbling.


NIC (Nasdaq: EGOV) reported lower fourth quarter net income and announced that the company was not chosen to move forward with a bid to manage texas.gov and other services for Texas.


Resolute Forest Products (NYSE: RFP) reported a profit for the fourth quarter but said that a shortage of truckers hampered operations.


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 

Lowe's to give bonuses

|

The markets traded lower during the midday with the Dow losing 25 points to 26,123. Nasdaq fell 16 points to 7395.


Lowe's is following the lead of rival Home Depot in announcing bonuses for its hourly employees after the Congress slashed corporate tax rates from 35% to 21%. Hourly employees will receive up to $1,000 depending on their length of service. The benefits package for full time employees will also be expanded to include up to ten weeks of paid maternity leave, two weeks of paid paternity leave and up to $5,000 for adoption assistance.


Nintendo is developing a mobile version of its popular Mario Kart game series. The go-kart racing game debuted in 1992 on the Super Nintendo Entertainment Systems and the latest Mario Kart 8 sold more than 7 million copies on the Nintendo Switch. Nintendo is rumored to be developing a mobile version of The Legend of Zelda.


Toyota announced yet another recall related to air bags. Approximately 645,000 vehicles around the world that were produced between May 2015 and March 2016 may have an electrical problem that could prevent an air bag from inflating during a crash. Owners of impacted vehicles will receive a letter from Toyota in March.


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 lost 4 points to 2,819. Bitcoin crashed $1,294 to $8,752.


Lower open over possible rate hikes

|

Indications of further rate hikes weighed the markets down to a lower open with the Dow falling 66 points to 26,083. Nasdaq dropped 34 points to 7377.


On the upside


Nokia (NYSE: NOK) reported higher fourth quarter earnings.


Qorvo (Nasdaq: QRVO) narrowed third quarter losses more than expected.


Fourth quarter earnings rose for eBay (Nasdaq: EBAY) and the online marketplace announced that it partnered with Adyen to be its new primary payment processor.

 

On the downside 


PayPal (Nasdaq: PYPL) will no longer be the primary payment processor for eBay (Nasdaq: EBAY).


Tractor Supply (Nasdaq: TSCO) reported lower fourth quarter net income.


United Parcel Service (NYSE: UPS) reversed year ago losses to post a profit for the fourth quarter but higher costs sent the stock price lower.


In the broad market, declining issues outpaced advancers by a margin of 6 to 5 on the NYSE and by 5 to 4 on Nasdaq. The broader S&P 500 fell 7 points to 2,816. Bitcoin plunged $762 to $9,284.


About this Archive

This page is an archive of entries from February 2018 listed from newest to oldest.

January 2018 is the previous archive.

March 2018 is the next archive.

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

Powered by Movable Type 5.12