March 2018 Archives

U.S. markets closed

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U.S. markets are closed for Good Friday.

Upbeat jobs data boosts markets

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Upbeat economic data boosted the markets to a sharply higher close with the Dow leaping 254 points to 24,103. Nasdaq surged 114 points to 7063.


On the upside


Zion Oil & Gas (Nasdaq: ZN) finalized procurement details for equipment and personnel needed to commence well testing on its Megiddo Jezreel #1 well. 


Unit (NYSE: UNT) will sell a 50% stake of its wholly owned subsidiary Superior Pipeline for $300 million.


Titan Machinery (Nasdaq: TITN) swung to a better than expected profit for the fourth quarter as revenue rose.

 

On the downside 


Shares of Acxiom (Nasdaq: ACXM) tumbled after Facebook (Nasdaq: FB) announced that it was ending its Facebook Partner Categories platform.


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


Sunlands Online Education Group (NYSE: STG) stock fell for the fifth day, closing lower every day since its initial public offering.


In the broad market, advancing issues outpaced decliners by a margin of nearly 4 to 1 on the NYSE and by nearly 7 to 3 on Nasdaq. The broader S&P 500 surged 35 points to 2,640. Bitcoin collapsed $598 to $7,2741.


Barclays pays $2 billion fine

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The markets advanced during the midday with the Dow rocketing 361 points to 23,209. Nasdaq accelerated 137 points to 7086.


Barclays will settle claims that it mislead investors into buying toxic mortgage backed securities by paying a $2 billion fine. Investors lost billions during the financial crisis when more than half of the mortgages that Barclays securitized defaulted. Two former key employees also settled with the Justice Department by paying a combined fine of $2 million.


The latest iOS 11.3 update from Apple will include new data privacy information that explains how an icon will appear whenever personal data is being collected. New privacy management tools will be introduced in May that will allow users to deactivate or delete their Apple ID account, or request a copy of all the data that Apple holds on the user. The new tools will be available to all users around the world.


Facebook advertisers will no longer be allowed to use information that is gathered on users by third party data collection agencies. News that personal information on nearly 50 million Facebook users was collected by Cambridge Analytica sparked backlash against the social media giant. Advertisers will still be able to use information that Facebook has collected as well as information that the advertisers themselves have gathered.


In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 1 on the NYSE and by nearly 4 to 1 on Nasdaq. The broader S&P 500 leaped 39 points to 2,644. Bitcoin crashed $441 to $7,431.


A drop in first time applications for unemployment benefits lifted the markets to a higher open with the Dow soaring 101 points to 23,949. Nasdaq gained 35 points to 6984.


On the upside


PVH (NYSE: PVH) reported higher fourth quarter earnings and revenue. 


The waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 has expired which will allow Energizer Holdings (NYSE: ENR) to complete its acquisition of Spectrum Brands' battery and lighting products business.


Swiss National Bank increased its holdings in HRG (NYSE: HRG) by an additional 4,900 shares to a total holdings of 205,000.

 

On the downside 


President Donald Trum tweeted more criticism of Amazon (Nasdaq: AMZN).


Roku (Nasdaq: ROKU) removed the USTVnow service after receiving a copyright infringement complaint.


Dominion Energy threatened to withdraw its offer to acquire SCANA (NYSE: SCG) if senators lowered SCANA subsidiary SCE&G's bills by 13%.


In the broad market, advancing issues outpaced decliners by a margin of nearly 4 to 1 on the NYSE and by nearly 3 to 1 on Nasdaq. The broader S&P 500 gained 11 points to 2,616. Bitcoin plummeted $371 to $7,501.


Investors continued to shed technology stocks sending the markets down to a lower close with the Dow slipping 9 points to 23,848. Nasdaq tumbled 59 points to 6949.


On the upside


Shares of Homology Medicines (Nasdaq: FIXX) surged in its market debut. 


RH (NYSE: RH) reported stronger than expected earnings for the fourth quarter.


Sears Holdings' (Nasdaq: SHLD) Shop Your Way unit partnered with GasBuddy to offer members savings on gasoline.

 

On the downside 


Invitae (NYSE: NVTA) priced its public offering of more than 11 million common shares at the discounted price of $4.50 per share.


Edge Therapeutics (Nasdaq: EDGE) reported disappointing interim results from a Phase 3 NEWTON 2 study of EG-1962 in adults with aneurysmal subarachnoid hemorrhage.


Shares of Geron (Nasdaq: GERN) fell for the third day in a row.


In the broad market, advancing issues barely edged out decliners by a slim margin on the NYSE while decliners outpaced advancers by 5 to 4 on Nasdaq. The broader S&P 500 lost 7 points to 2,605. Bitcoin tumbled $132 to $7,875.


Volkswagen tests pickup truck

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The markets traded mixed during the midday with the Dow rising 21 points to 23,878. Nasdaq dropped 50 points to 6958.


Volkswagen revealed a prototype pickup truck that will be used to gauge customer reaction and solicit feedback. The German automaker does not sell pickup trucks in the United States and has not since the mid 1980s. Since 16% of auto sales in the U.S. last were pickups, Volkswagen is exploring the possibility of reentering the lucrative market.


Facebook has changed its privacy settings so that users can more easily control the kind of data that they share. News that data analytics firm Cambridge Analytica used the personal information of up to 50 million Facebook users sparked a backlash against the social media giant with many users deleting their accounts. Chief executive Mark Zuckerberg has apologized for the incident and will testify before Congress about the matter.


The National Highway Traffic Safety Administration is investigating a fatal crash involving a Tesla that occurred last week in California. A Model X SUV hit a highway median, flipped, then was struck by two vehicles. The cause of the crash is still under investigation.


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 more than 4 to 3 on Nasdaq. The broader S&P 500 slipped 3 points to 2,608. Bitcoin fell $677 to $7,940.


Mixed open as GDP growth slows

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The markets opened mixed with the Dow rising 26 points to 23,883 as the nation's economic growth slowed in the fourth quarter to 2.9%. Nasdaq fell 30 points to 6978.


On the upside


RSP Permian (NYSE: RSPP) will be acquired by Concho Resources (NYSE: CXO) in an all stock deal valued at approximately $9.5 billion. 


Takeda Pharmaceutical is exploring a potential deal to acquire Shire (Nasdaq: SHPG).


LaSalle Hotel Properties (NYSE: LHO) received an acquisition offer from Pebblebook Hotel Trust for more than $3 billion.

 

On the downside 


Profit taking continued to weigh down shares of Square (NYSE: SQ).


Shares of Tesla (Nasdaq: TSLA) extended its losses as safety concerns continued to plague the electric vehicle maker.


President Donald Trump has reportedly discussed changing the tax treatment of Amazon.com (Nasdaq: AMZN).


In the broad market, advancing issues barely edged out decliners by a slim margin on the NYSE while decliners outpaced advancers by nearly 3 to 2 on Nasdaq. The broader S&P 500 added 2 points to 2,614. Bitcoin rose $27 to $8,035.


Tech sell-off sinks stocks

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The markets retreated as regulation concerns and self-driving car safety issues plagued the tech sector. The Dow crashed 344 points to 23,857 while Nasdaq collapsed 211 points to 7008.


On the upside


Stifel Nicolaus upgraded Aratana Therapeutics (Nasdaq: PETX) from a Hold rating to a Buy rating and lifted its price target from $6 to $8. 


Shares of Tandem Diabetes Care (Nasdaq: TNDM) extended its gains.


Teacher Retirement System of Texas purchased 17,945 shares of Rayonier Advanced Materials (NYSE: RYAM).

 

On the downside 


IDT (NYSE: IDT) completed the spinoff of Rafael Holdings.


Invitae (NYSE: NVTA) will offer $50 million of its common stock through a public offering.


SunTrust Robinson Humphrey downgraded Unit (NYSE: UNT) from a Buy rating to a Hold rating.


In the broad market, declining issues outpaced advancers by a margin of more than 2 to 1 on the NYSE and by 7 to 2 on Nasdaq. The broader S&P 500 plummeted 45 points to 2,612. Bitcoin climbed $108 to $7,997.


Consumer confidence fell to 127.7 in March from 130 the previous month but the markets opened higher with the Dow gaining 74 points to 24,276 as fears of a trade war faded. Nasdaq rose 35 points to 7255.


On the upside


Red Hat (NYSE: RHT) reported a smaller than expected loss for the fourth quarter as revenue soared. 


GlaxoSmithKline (NYSE: GSK) will pay $13 billion in cash to buy the 36.5% stake that Novartis (NYSE: NVS) owns in their consumer healthcare joint venture.


Bargain hunters lifted shares of General Electric (NYSE: GE).

 

On the downside 


Profit taking weighed down shares of Newell Brands (NYSE: NWL).


Geron (Nasdaq: GERN) extended its losses.


Overstock.com (Nasdaq: OSTK) will offer 4 million shares of common stock through a public offering.


In the broad market, declining issues outpaced advancers by a margin of nearly 6 to 5 on the NYSE and by 5 to 4 on Nasdaq. The broader S&P 500 rose 11 points to 2,669. Bitcoin climbed $93 to $7,982.


Easing trade tensions sent the markets soaring to a sharply higher close with the Dow catapulting 669 points to 24,202. Nasdaq rocketed 227 points to 7220.


On the upside


JD Sports will acquire The Finish Line (Nasdaq: FINL) for a premium of approximately $558 million. 


Belden (NYSE: BDC) announced the redemption of all outstanding preferred share purchase rights.


Shares of MongoDB (Nasdaq: MDB) surged on news that U.S. and Chinese officials are pursuing talks discuss trade issues.

 

On the downside 


Protagonist Therapeutics (Nasdaq: PTGX) ended its Phase 2b PROPEL study of PTG-100 to treat patients with moderate to severe ulcerative colitis.


Tintri (Nasdaq: TNTR) chief financial officer Ian Halifax will leave the company on April 30, 2018.


Shares of Omeros (Nasdaq: OMER) extended its losses.


In the broad market, advancing issues outpaced decliners by a margin of 7 to 2 on the NYSE and by more than 5 to 2 on Nasdaq. The broader S&P 500 leaped 70 points to 2,658. Bitcoin tanked $727 to $7,899.


Uber exits Southeast Asia market

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The markets continued soaring during the midday with the Dow rocketing 552 points to 24,085. Nasdaq jumped 175 points to 7167.


Uber will exit the Southeast Asian market by selling its business there to rival Grab. In exchange for the sale, Uber will receive a 27.5% stake in the Singapore-based ridesharing business that spans Cambodia, Indonesia, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam. Uber sold its Chinese business in 2016 to competitor Didi Chuxing.


Ford partnered with Alibaba to introduce a car vending machine in Guangzhou, China. The machine holds 42 cars and sport utility vehicles that customers can test drive and buy without a salesperson. Test drives are free for people with good credits scores and can last for up to three days before a customers decides whether to purchase or return the vehicle.


FedEx will purchase 20 Tesla Semi trucks with advanced safety features such as surround cameras and onboard sensors. The fully electric trucks will begin production next year. The delivery service has already saved over 158 million gallons of fuel in the decade since it began integrating more fuel efficient hybrid, electric, natural gas and fuel cell vehicles into its fleet.


In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 2 on the NYSE and by more than 2 to 1 on Nasdaq. The broader S&P 500 leaped 55 points to 2,643. Bitcoin collapsed $712 to $7,914.


News that talks to avert a potential trade war with China were progressing lifted the markets to a sharply higher open with the Dow leaping 292 points to 23,825. Nasdaq surged 133 points to 7125.


On the upside


USG (NYSE: USG) rejected an unsolicited acquisition offer from Gebr Knauf saying that the offer undervalued the company. 


Travelport Worldwide (NYSE: TVPT) chief executive Gordon Wilson and chief financial officer Bernard Bot each purchased 6,900 shares of company stock.


Lowe's (NYSE: LOW) chief executive Robert A. Niblock will retire after 25 years with the company.

 

On the downside 


Biohaven Pharmaceutical (NYSE: BHVN) reported positive results from two Phase 3 clinical trials for its migraine drug rimegepant but concerns of competition from Allergen (NYSE: AGN) sent the stock price lower.


Investors locked in profits on DURECT (Nasdaq: DRRX).


The Federal Trade Commission confirmed that it was investigating the privacy practices of Facebook (Nasdaq: FB).


In the broad market, advancing issues outpaced decliners by a margin of nearly 7 to 3 on the NYSE and by more than 5 to 3 on Nasdaq. The broader S&P 500 surged 31 points to 2,619. Bitcoin crashed $517 to $8,110.


The markets plummeted with the Dow crashing 424 points to 23,533 as the U.S. and China moved closer to a trade war. Nasdaq cratered 174 points to 6992.


On the upside


Shares of Dropbox (Nasdaq: DBX) leaped on its first trading day. 


CareDx (Nasdaq: CDNA) reported higher revenue for the fourth quarter.


New York & Co. (NYSE: NWY) reversed year ago losses to post a profit for the fourth quarter.

 

On the downside 


Shares Ferroglobe (Nasdaq: GSM) plummeted after the U.S. international Trade Commission determined that dumped and subsidized imports of silicon metals are not causing material injury to the U.S. silicon metal industry.


Wells Fargo decreased its stake in Glaukos (NYSE: GKOS) by nearly 74%.


Westport Fuel Systems (Nasdaq: WPRT) reported a loss for the fourth quarter.


In the broad market, declining issues outpaced advancers by a margin of nearly 4 to 1 on both the NYSE and on Nasdaq. The broader S&P 500 collapsed 55 points to 2,588. Bitcoin gained $42 to $8,651.


The markets retreated during the midday with the Dow slipping 3 points to 23,936. Nasdaq dropped 52 points to 7113.


Bank of America has agreed to settle allegations by the New York attorney general that the bank deceived clients about their stock transactions. Customers were assured that their trades were processed in-house but the bank sent the transactions to outside electronic trading firms then changed the trade confirmations. Bank of America has admitted wrongdoing and will pay a $42 million fine.


Kroger is reportedly engaged in discussions with Target for a potential combination of the two retailers. Preliminary conversations began last summer as Target explored options to expand its grocery business while Kroger researched ways to improve its ecommerce initiative. Together, the two companies would generate $195 billion annually at 4,600 stores across the nation.


Facebook chief executive officer Mark Zuckerberg has been formally requested to testify before a congressional hearing about mishandled user data. Political data firm Cambridge Analytica collected data from 50 million Facebook profiles through an app then sold the data. The breach of privacy has prompted lawsuits against the social media giant as well as the data mining firm.


In the broad market, declining issues outpaced advancers by a margin of 5 to 3 on the NYSE and by more than 2 to 1 on Nasdaq. The broader S&P 500 fell 12 points to 2,631. Bitcoin gained $58 to $8,667.


Rising crude oil prices lifted the markets to a higher open with the Dow gaining 38 points to 23,995. Nasdaq added 4 points to 7170.


On the upside


Cemex (NYSE: CX) settled a lawsuit filed by the California Sportfishing Protection Alliance that claimed that Cemex discharged polluted stormwater runoff into the Sacramento River. 


Rising gold prices lifted shares of Alamo Gold (NYSE: AGI), AngloGold Ashanti (NYSE: AU) and Kinross Gold (NYSE: KSS).


GlaxoSmithKline (NYSE: GSK) withdrew from an auction to buy the consumer health business of Pfizer (NYSE: PFE).

 

On the downside 


Profit taking weighed down shares of Western Digital (Nasdaq: WDC).


Forest City Realty Trust (NYSE: FCEA) will not sell itself and has reshuffled its board.


Goldman Sachs removed Nutanix (Nasdaq: NTNX) from its Conviction Buy list.


In the broad market, advancing issues outpaced decliners by a margin of 6 to 5 on the NYSE while decliners edged out advancers by 6 to 5 on Nasdaq. The broader S&P 500 added 3 points to 2,646. Bitcoin slipped $6 to $8,602.


A looming global trade war sent the markets into a tailspin with the Dow collapsing 724 points to 23,957. Nasdaq crashed 178 points to 7166.


On the upside


The government spending bill reinstated the pass-through status of Omeros' (Nasdaq: OMER) cataract surgery drug Omidria. 


The Food and Drug Administration approved Teligent's (Nasdaq: TLGT) Halobetasol Propionate Ointment, 0.05%.


Raymond James upgraded Pandora Media (NYSE: P) from a Market Perform rating to a Strong Buy rating.

 

On the downside 


News that U.S. allies Argentina, Australia, Brazil and Europe will be shielded from steel and aluminum tariffs sent shares of Century Aluminum (Nasdaq: CENX) and U.S. Steel (NYSE: X) tumbling.


Herman Miller (Nasdaq: MLHR) reported higher third quarter earnings and revenue but the stock price plunged.


G-III Apparel Group (Nasdaq: GIII) reported a loss for the fourth quarter and forecast fiscal 2019 results below expectations.


In the broad market, declining issues outpaced advancers by a margin of more than 4 to 1 on both the NYSE and on Nasdaq. The broader S&P 500 sank 68 points to 2,643. Bitcoin plunged $329 to $8,592.


The markets extended its losses during the midday with the Dow crashing 347 points to 24,334. Nasdaq plunged 92 points to 7252.


Ford has partnered with Mahindra & Mahindra to jointly develop compact and midsize sports utility vehicles and an electric car for the Indian market. The midsize SUV will be sold by both companies under separate brands and is currently evaluating the strategy for a compact SUV and an electric vehicle. Ford may sell the jointly developed vehicles in other markets outside of India.


President Donald Trump has signed a memorandum that could potentially impose tariffs on up to $60 billion worth of imports from China. The memorandum allows for a comment period for industry lobbyists and legislators to make recommendations and suggestions on a proposed list of 1,300 products. China may retaliate with tariffs of their own on American agricultural products.


Starbucks introduced its limited release Crystal Ball Frappuccino topped with sparkling candy gems. Blue gems indicate adventure, green gems stand for good luck and purple gems bring magic and enchantment. The peach flavored drink will be available for five days in the U.S. and Canada.


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 2 on Nasdaq. The broader S&P 500 plummeted 35 points to 2,676. Bitcoin plunged $264 to $8,657.


The prospects of a trade war sent the markets tumbling to open sharply lower with the Dow plunging 156 points to 24,526. Nasdaq plummeted 88 points to 7257.


On the upside


Two Sigma Advisers increased its holdings in Ares Capital (Nasdaq: ARCC). 


Five Below (Nasdaq: FIVE) reported higher fourth quarter earnings and revenue that topped analyst estimates.


Fourth quarter earnings and revenue for Guess? (NYSE: GES) surpassed expectations.

 

On the downside 


AbbVie (NYSE: ABBV) will not pursue accelerated approval for Rova-T to treat small cell lung cancer.


The Michaels Companies (Nasdaq: MIK) reported higher fourth quarter earnings and revenue but the art supplies company forecast 2018 results that fell short of analyst expectations.


Commercial Metals (NYSE: CMC) disappointed with lower second quarter earnings that missed estimates.


In the broad market, declining issues outpaced advancers by a margin of more than 5 to 2 on the NYSE and by nearly 3 to 1 on Nasdaq. The broader S&P 500 tumbled 20 points to 2,691. Bitcoin plummeted $304 to $8,617.


The Federal Reserve increased interest rates by 0.25%, indicated that at least two additional interest rate hikes were possible and upgraded its outlook for the economy. The markets retreated to close lower with the Dow losing 44 points to 24,682. Nasdaq fell 19 points to 7345.


On the upside


ArQule (Nasdaq: ARQL) will present at the 17th Annual Needham Healthcare Conference on March 27, 2018. 


Geron (Nasdaq: GERN) will present at the 17th Annual Needham Healthcare Conference on Tuesday, March 27, 2018.


Prothena (Nasdaq: PRTA) entered a global collaboration agreement with Celgene (Nasdaq: CELG) to develop new therapies for neurodegenerative diseases.

 

On the downside 


Alder BioPharmaceuticals (Nasdaq: ALDR) named Paul B. Cleveland to the position of interim president and chief executive officer effective immediately to replace Randall C. Schatzmann.


Shares of Wayfair (NYSE: W) fell after rival Overstock (Nasdaq: OSTK) unveiled an augmented reality feature to its shopping app.


Micro Focus International (NYSE: MFGP) stock extended its losses.


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 lost 5 points to 2,711. Bitcoin tumbled $109 to $8,880.


The markets recovered to trade higher during the midday with the Dow climbing 122 points to 24,849. Nasdaq gained 19 points to 7383.


Google paid $2.4 billion to buy the 1.2 million square foot Chelsea Market building in New York that is near the search engine's New York headquarters. Google employees had already been working in rented offices in the former Nabisco factory building. The expansion solidifies the Hudson River corridor as a hub of technology and innovation.


Bayer secured European Union approval of its proposed $66 billion acquisition of Monsanto by agreeing to sell seeds, pesticides and digital agriculture technology to BASF. Going forward, Bayer and BASF must provide additional evidence that two companies offer enough choice to farmers at competitive prices. U.S. and Russian regulators must still approve the proposed merger.


The European Commission has created a plan to tax large digital companies with significant revenues in Europe. Companies with more than $920 million in global revenue and over $61 million in EU revenue would have to pay a 3% tax. Many leaders of EU countries oppose the measure that could potentially raise $6.1 billion in annual revenue.


In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 3 on both the NYSE and on Nasdaq. The broader S&P 500 rose 9 points to 2,726. Bitcoin tumbled $117 to $8,872.


The markets opened lower with the Dow slipping 4 points to 24,723 in anticipation of a rate hike. Nasdaq lost 17 points to 7347.


On the upside


MuleSoft (NYSE: MULE) will be acquired by Salesforce (NYSE: CRM) in a cash and stock deal valued at approximately $6.5 billion. 


Bargain hunters lifted shares of Twitter (NYSE: TWTR).


The Toronto Stock Exchange has accepted Enerplus' (NYSE: ERF) Notice of Intention to Make a Normal Course Issuer Bid.

 

On the downside 


General Mills (NYSE: GIS) cut its full year forecast.


Southwest Airlines (NYSE: LUV) cut its revenue per available seat mile forecast for the first quarter.


Deutsche Bank (NYSE: DB) warned that first quarter revenue would tumble by $550 million.


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 slipped 2 points to 2,714. Bitcoin climbed $84 to $9,074.


The markets recovered to close higher with the Dow soaring 116 points to 24,727 as crude oil prices climbed. Nasdaq gained 20 points to 7364.


On the upside


Arena Pharmaceuticals (Nasdaq: ARNA) reported positive results from a Phase 2 OASIS trial for etrasimod to treat ulcerative colitis. 


Salesforce (NYSE: CRM) is reportedly engaged in advanced discussions to acquire MuleSoft (NYSE: MULE).


Stephens upgraded Stoneridge (NYSE: SRI) from an Equal Weight rating to an Overweight rating.

 

On the downside 


Proteostasis Therapeutics (Nasdaq: PTI) announced a public offering of 9 million common shares.


Shares of Twitter (NYSE: TWTR) plunged over regulatory concerns.


Fourth quarter earnings and revenue for LexinFintech Holdings (Nasdaq: LX) fell short of expectations.


In the broad market, declining issues outpaced advancers by a margin of 5 to 4 on both the NYSE and on Nasdaq. The broader S&P 500 rose 4 points to 2,716. Bitcoin surged $553 to $8,935.


FedEx to open inside 500 Walmarts

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The markets traded mixed during the midday with the Dow climbing 81 points to 24,692. Nasdaq slipped 3 points to 7340.


FedEx will open offices inside 500 Walmart stores nationwide over the next two years. Customers will be able to print materials and pack and ship items at a convenient location. Packages can also be sent to a FedEx office inside of a Walmart.


McDonald's will reduce the greenhouse gas emissions at its restaurants and offices by 36% from 2015 levels in twelve years. Approximately 64% of emissions comes from beef production, restaurant energy use, packaging and waste. The fast food giant will install LED lights, use more energy efficient kitchen equipment, increase recycling and transition to more sustainable beef production.


Google announced plans to invest $300 million over three yeas to combat fake news.  The Google News Initiative will highlight accurate news articles, especially during breaking news situations, and provide tools to journalists to write and publish articles. Google has been under fire for spreading fake news during the presidential election, in the aftermath of the Las Vegas shooting in October and after the Parkland school shooting last month.


In the broad market, declining issues outpaced advancers by a margin of nearly 3 to 2 on both the NYSE and on Nasdaq. The broader S&P 500 eased a point to 2,711. Bitcoin leaped $452 to $8,835.


Higher open on bargain hunting

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The markets opened higher with the Dow gaining 40 points to 24,650 as bargain hunters snapped up deals. Nasdaq rose 9 points to 7353.


On the upside


Bargain hunters lifted shares of Universal Display (Nasdaq: OLED). 


The Timken Company (NYSE: TKR) lifted its full year revenue and earnings guidance.


HealthEquity (Nasdaq: HQY) reported higher fourth quarter earnings and revenue.

 

On the downside 


Oracle (NYSE: ORCL) disappointed with third quarter revenue that fell short of analyst expectations prompting downgrades.


Fourth quarter revenue for The Children's Place (Nasdaq: PLCE) missed estimates and the retailer forecast current quarter earnings below expectations.


JPMorgan Chase affirmed its Neutral rating on Welltower (NYSE: WELL).


In the broad market, advancing issues barely edged out decliners by a slim margin on the NYSE while advancers outpaced decliners by 6 to 5 on Nasdaq. The broader S&P 500 added 3 points to 2,715. Bitcoin climbed $116 to $8,499.


The markets cratered to close sharply lower with the Dow diving 335 points to 24,610 as Facebook and other social media sites face backlash and potential regulations over user privacy. Nasdaq crashed 137 points to 7344.


On the upside


Geron (Nasdaq: GERN) narrowed fourth quarter losses on higher revenue. 


Cronos Group (Nasdaq: CRON) formed a joint venture with MM Enterprises USA to develop branded cannabis products and open cannabis retail stores in Canada.


Cheetah Mobile (NYSE: CMCM) reported higher fourth quarter earnings and revenue.

 

On the downside 


Cidara Therapeutics (Nasdaq: CDTX) reported upbeat results from a Phase 2 STRIVE clinical trial of its lead anti fungal candidate rezafungin acetate but the stock price plummeted.


Investors locked in profits on Zscaler (Nasdaq: ZS).


Hecla Mining (NYSE: HL) will acquire Klondex Mines (MYSE: KLDX) for approximately $462 million in cash and stock.


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 2 on Nasdaq. The broader S&P 500 plunged 39 points to 2,712. Bitcoin surged $203 to $8,438.


The markets tanked during the midday with the Dow crashing 406 points to 24,539. Nasdaq collapsed 168 points to 7313.


An Uber autonomous vehicle struck and killed a pedestrian in Arizona prompting the ride hailing service to suspend all self-driving tests. A human safety driver was behind the wheel when a woman crossed the street outside of the crosswalk. This is the first known fatality caused by an autonomous car.


McDonald's will settle a labor rights case with the National Labor Relations Board to avoid a court ruling that may change the franchise business model.  After McDonald's workers were fired for participating in protests that demanded higher hourly wages, worker advocacy group Fight for $15 sued McDonald's claiming that the corporate entity was a joint employer of franchise workers. Terms of the proposed settlement are not available.


Volkswagen will update an assembly plant in Chattanooga,Tennessee to build a new sport utility vehicle. The German automaker expects the $340 million investment to double its American market share from 5% to 10%. Building the SUV in America would also avoid potential tariffs in the event of a trade war.


In the broad market, declining issues outpaced advancers by a margin of nearly 9 to 1 on the NYSE and by nearly 4 to 1 on Nasdaq. The broader S&P 500 plunged 50 points to 2,701. Bitcoin soared $313 to $8,548.


Privacy concerns sink stocks

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Privacy concerns sent the markets down to a lower open with the Dow falling 53 points to 24,893. Nasdaq tumbled 62 points to 7419.


On the upside


KLA-Tencor (Nasdaq: KLAC) will acquire Orbotech (Nasdaq: ORBK) in a cash and stock deal valued at approximately $3.4 billion. 


Activist investor Sherborne Investors acquired a 5% stake in Barclays (NYSE: BCS).


Fidelity National Financial (NYSE: FNF) will pay approximately $1.2 billion to acquire Stewart Information Services (NYSE: STC).

 

On the downside 


Micro Focus International (NYSE: MFGP) cut its fiscal 2018 revenue forecast and announced the immediate departure of chief executive Chris Hsu.


Shares of Facebook (Nasdaq: FB) tumbled on news that Cambridge Analytica secretly collected data on 50 million users of the social media company.


A report that Apple (Nasdaq: AAPL) was developing its own MicroLED displays sent shares of Universal Display (Nasdaq: OLED) plummeting.


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 2 on Nasdaq. The broader S&P 500 rose 4 points to 2,752. Bitcoin soared $313 to $8,548.


Industrial output surged 1.1% last month while factory output climbed 1.2%. The markets closed higher with the Dow climbing 72 points to 24,946. Nasdaq held steady at 7481.


On the upside


Shares of Zscaler (Nasdaq: ZS) more than doubled on its first trading day. 


Teligent (Nasdaq: TLGT) reported better than expected revenue for the fourth quarter.


Amyris (Nasdaq: AMRS) narrowed losses for the fourth quarter significantly as revenue surged.

 

On the downside 


Energy XXI Gulf Coast (Nasdaq: EXXI) fell to a loss for the fourth quarter on lower revenue.


Bitauto Holdings (NYSE: BITA) widened fourth quarter losses significantly.


Ladenburg Thalmann cut its price target on TC Pipelines (NYSE: TCP) from $59 to $50.


In the broad market, advancing issues outpaced decliners by a margin of more than 2 to 1 on the NYSE and by more than 5 to 3 on Nasdaq. The broader S&P 500 rose 4 points to 2,752. Bitcoin soared $225 to $8,519.


Caterpillar to close 2 facilities

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The markets extended its gains during the midday with the Dow soaring 107 points to 24,981. Nasdaq added a point to 7482.


Caterpillar announced plans to close two facilities as part of its efforts to restructure the company to increase profitability. The closures will affect approximately 200 workers at a work tools facility in Waco, Texas and 80 people at a demonstration center in Panama.  The heavy equipment maker may shutter an engine manufacturing plant in LaGrange, Illinois as well.


The Organization for Economic Cooperation and Development said that approximately 110 countries will collaborate on developing an international consensus on taxing digital businesses by 2020. Digital companies such as Amazon, Facebook and Google have been able to minimize their tax payments under current laws that were written for the industrial era. Many rules require that a company maintain a significant presence in country in order for the country to collect taxes from the company.


The European Union has produced an extensive10-page list of American products that may be targeted for retaliatory tariffs in response to steel and aluminum tariffs imposed by President Donald Trump. Industries that may be impacted by either the U.S. tariffs or the EU tariffs have been asked to comment on the proposals. Tariffs may be imposed immediately on the first group of potential targets while the second group may be subject to tariffs if the World Trade Organization declares the U.S. tariffs illegal.


In the broad market, advancing issues outpaced decliners by a margin of nearly 2 to 1 on the NYSE and by nearly 3 to 2 on Nasdaq. The broader S&P 500 added 3 points to 2,750. Bitcoin soared $223 to $8,518.


A strong 1.2% gain in factory output lifted the markets to a higher open with the Dow adding 4 points to 24,877. Nasdaq rose 23 points to 7504.


On the upside


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


Fourth quarter earnings and revenue climbed for Ulta Beauty (Nasdaq: ULTA).


Adobe (Nasdaq: ADBE) reported higher first quarter earnings and revenue that beat expectations.

 

On the downside 


Tiffany & Co. (NYSE: TIF) reported lower fourth quarter earnings and forecast full year earnings below estimates.


Profit taking weighed down shares of Welltower (NYSE: HCN).


Fibria Celulose (NYSE: FBR) will merge with Suzano Papel e Celulose.


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 added 3 points to 2,750. Bitcoin climbed $173 to $8,468.


The markets closed mixed with the Dow soaring 115 points to 24,873 while Nasdaq lost 15 points to 7481 as U.S. sanctions are imposed on Russia for election meddling and special counsel Robert Mueller subpoenaed the Trump Organization for business documents related to Russia.


On the upside


Akcea Therapeutics (Nasdaq: AKCA) secured an exclusive, worldwide license from Ionix (Nasdaq: IONS) to commercialize inotersen and AKCEA-TTR-L. 


Adaptimmune Therapeutics (Nasdaq: ADAP) reported promising initial responses in patients dosed with NY-ESO SPEAR T-cells in a second tumor.


Shares of Arcus Biosciences (NYSE: RCUS) climbed on its first trading day.

 

On the downside 


The Food and Drug Administration placed a clinical hold on Solid Biosciences' (Nasdaq: SLDB) Phase I/II clinical trial for SGT-001 microdystrophin gene transfer in Duchenne muscular dystrophy.


J.Jill (NYSE: JILL) reported higher fourth quarter earnings and revenue but forecast a drop in same store sales for the current quarter.


Sprint (NYSE: S) sued WideOpenWest (NYSE: WOW) over the infringement of patents related to voice over packet.


In the broad market, declining issues outpaced advancers by a margin of more 5 to 3 on both the NYSE and by nearly 4 to 3 on Nasdaq. The broader S&P 500 slipped 2 points to 2,747. Bitcoin climbed $235 to $8,270.


The markets advanced during the midday with the Dow soaring 188 points to 24,946. Nasdaq slipped 3 points to 7493.


Unilever has chosen to consolidate its headquarters in Rotterdam rather than in London. The consumer goods giant is the third largest company in Britain and has maintained two headquarters since the 1929 merger of British soap maker Lever Brothers with Netherlands based Margarine Unie. The maker of Dove soap, Lipton tea and Magnum ice cream employs approximately 169,000 workers around the world with 7,300 based in the UK.


General Motors will spend $100 million to upgrade two facilities at its Orion Township plant in Michigan to build self driving cars. Production is scheduled to begin next year on an autonomous version of the Cruise. The car maker has sought approval from the National Highway Traffic Safety Administration to make and operate cars that have no steering wheels.


Wells Fargo may be sanctioned for forcing auto insurance policies on customers who borrowed money to buy cars. Wells Fargo had claimed last year that a third party vendor engaged in the deceptive practice but the bank had received payouts for the insurance policies. Approximately 570,000 customers who already had auto insurance were forced to buy policies as part of the auto loans.


In the broad market, declining issues outpaced advancers by a margin of more than 5 to 3 on the NYSE and by nearly 6 to 5 on Nasdaq. The broader S&P 500 added 3 points to 2,753. Bitcoin climbed $167 to $8,201.


First time applications for unemployment benefits fell last week to lift the markets to a higher open with the Dow gaining 79 points to 24,837. Nasdaq rose 13 points to 7509.


On the upside


Alexion Pharmaceuticals (Nasdaq: ALXN) reported positive results from a Phase 3 study of ALXN1210.


Semtech (Nasdaq: SMTC) reported a smaller than expected loss for the fourth quarter.


Dollar General (NYSE: DG) reported higher fourth quarter earnings and revenue as same store sales climbed more than expected.

 

On the downside 


Shares of Qorvo (Nasdaq: QRVO) fell for the third day in a row.


Excluding a benefit from the 2017 Tax Reform, ADT (NYSE: ADT) reported a loss in its first quarterly report as a publicly traded company.


ABM Industries (NYSE: ABM) announced a secondary offering of more than 9 million common shares.


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 rose 5 points to 2,754. Bitcoin soared $347 to $8,382.


Trade war fears sink stocks

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President Donald Trump is exploring additional tariffs on Chinese imports sparking concerns of a trade war. The markets tumbled to close sharply lower with the Dow collapsing 248 points to 24,758. Nasdaq lost 14 points to 7496.


On the upside


Morgan Stanley affirmed its Overweight rating on Syndax Pharmaceuticals (Nasdaq: SNDX).


Seaspan (NYSE: SSW) acquired the remaining 89% of Greater China Intermodal Investments that it did not already own.


Shares of Carvana (NYSE: CVNA) extended its gains.

 

On the downside 


Investors locked in profits on Babcock & Wilcox Enterprises (NYSE: BW).


Aratana Therapeutics (Nasdaq: PETX) reported a loss for the fourth quarter.


Cheetah Mobile (NYSE: CMCM) announced changes to its Board of Directors.


In the broad market, declining issues outpaced advancers by a margin of more than 4 to 3 on the NYSE and by more than 3 to 2 on Nasdaq. The broader S&P 500 dropped 15 points to 2,749. Bitcoin crashed $999 to $8,115.


Walmart expands grocery delivery

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The markets retreated during the midday to trade lower with the Dow crashing 272 points to 24,734. Nasdaq fell 24 points to 7486.


Walmart announced plans to expand its online grocery delivery service from its current six markets to more than 100 markets by the end of the year. Orders will be filled by 800 Walmart stores nationwide and will be delivered through driving services such as Uber. Walmart charges $9.95 per delivery with a minimum $30 purchase.


Disney created a new division to build its streaming video and international businesses. Customers have been abandoning Disney's ESPN network as media consumption transitions from cable to online streaming. The new division is developing the ESPN+ subscription service and will introduce a family friendly streaming service next year.


Ford has recalled approximately 1.38 million vehicles to fix steering wheels that may detach. Model years 2014 through 2018 Ford Fusions and Lincoln MKZ sedans in North America that are affected by the recall will be fixed for free. At least two accidents may have been caused by a steering wheel that detached.


In the broad market, declining issues outpaced advancers 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 dropped 19 points to 2,745. Bitcoin collapsed $826 to $8,288.


Producer prices rose 0.2% last month to lift the markets to a higher open with the Dow climbing 79 points to 25,086. Nasdaq gained 28 points to 7539.


On the upside


Camping World Holdings (NYSE: CWH) will acquire River City Recreation World.


RF Industries (Nasdaq: RFIL) swung to a profit for the first quarter as revenue surged.


PetIQ (Nasdaq: PETQ) reported a smaller than expected loss for the fourth quarter.

 

On the downside 


Signet Jewelers (NYSE: SIG) reported higher fourth quarter earnings and revenue but the company forecast a drop in same store sales in fiscal 2019 and announced a three year strategic plan.


China Lodging Group (Nasdaq: HTHT) reported higher fourth quarter earnings and revenue but the stock price fell.


Intellia Therapeutics (Nasdaq: NTLA) widened losses for the fourth quarter.


In the broad market, advancing issues were on par with decliners on the NYSE while decliners edged out advancers by a margin of nearly 6 to 5 on Nasdaq. The broader S&P 500 gained 9 points to 2,774. Bitcoin plummeted $388 to $8,726.


Secretary of State Rex Tillerson became the latest Trump Administration official to be fired from his post sending the markets tumbling to a sharply lower close with the Dow plunging 171 points to 25,007. Nasdaq plummeted 77 points to 7511.


On the upside


The Food and Drug Administration granted Breakthrough Therapy Designation to Proteostasis Therapeutics' (Nasdaq: PTI) cystic fibrosis transmembrane conductance regulator amplifier PTI-428.


Shares of Endocyte (Nasdaq: ECYT) extended its gains.


Bluelinx Holdings (NYSE: BXC) stock continued to soar.

 

On the downside 


Commercial Vehicle Group (Nasdaq: CVGI) fell to a loss for the fourth quarter.


Fourth quarter earnings for Tilly's (NYSE: TLYS) fell short of analyst expectations.


Fanhua (Nasdaq: FANH) disappointed with sharply lower fourth quarter revenue.


In the broad market, declining issues outpaced advancers by a margin of nearly 3 to 2 on the NYSE and by more than 5 to 3 on Nasdaq. The broader S&P 500 tumbled 17 points to 2,765. Bitcoin dropped $38 to $9,061.


Fitbit introduces Versa

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The markets retreated during the midday with the Dow falling 68 points to 25,109. Nasdaq dropped 60 points to 7528.


Fitbit introduced its Versa smartwatch that is priced at $199 with a battery life of four days. The Versa comes with a heart rate monitor, the Fitbit Coach and is waterproof for swimming laps. Approximately 300 songs can be stored on the Versa.


For the third consecutive year, Amazon topped the annual Harris Poll Reputation Quotient poll that ranks the reputation of the 100 most visible companies. Apple has steadily fallen from the number two position two years ago to number five last year and now is ranked at 29th place. Meanwhile, Tesla has climbed from ninth place last year to number three this year.


Volkswagen has upped it investment in electric vehicles by securing approximately $25 billion in partnerships for battery cells and other related technology. Sixteen factories will be updated to produce electric vehicles by 2022 with the goal of building 3 million electric cars per year by 2025. Volkswagen expects to have an electric version of all of its car models by 2030.


In the broad market, declining issues outpaced advancers by a margin of nearly 6 to 5 on the NYSE and by more than 4 to 3 on Nasdaq. The broader S&P 500 fell 12 points to 2,770. Bitcoin rose $10 to $9,110.


Higher open on mild inflation

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Mild inflation lifted the markets to a higher open with the Dow climbing 79 points to 25,257. Nasdaq climbed 39 points to 7627.


On the upside


Mizuho analyst Vijay Rakesh lifted his price target on Micron Technology (Nasdaq: MU) from $55 to $66.


President Donald Trump blocked Broadcom's (Nasdaq: AVGO) proposed acquisition of Qualcomm (Nasdaq: QCOM).


Nutanix (Nasdaq: NTNX) will acquire Netsil.

 

On the downside 


BlackLine (Nasdaq: BL) priced its public offering of 8 million common shares at the discounted price of $41.50 per share.


Fourth quarter revenue for Dick's Sporting Goods (NYSE: DKS) missed expectations as same store sales fell.


Myriad Genetics (Nasdaq: MYGN) received a subpoena from the Department of Health and Human Services, Office of Inspector General, for an investigation into potentially false or improper payment claims submitted to Medicare and Medicaid.


In the broad market, advancing issues outpaced decliners by a margin of nearly 7 to 3 on the NYSE and by 3 to 2 on Nasdaq. The broader S&P 500 lost 3 points to 2,783. Bitcoin added $1 to $9,101.


The markets closed mixed with the Dow plummeting 157 points to 25,178 after two explosions killed one teenager and injured two people in Austin, Texas. Nasdaq gained 27 points to 7588.


On the upside


Bluelinx Holdings (NYSE: BXC) will pay approximately $413 million to acquire building products wholesale distributor Cedar Creek.


Oclaro (Nasdaq: OCLR) will be acquired Lumentum Holdings in a cash and stock deal valued at approximately $1.7 billion.


Bargain hunters lifted shares of Codexis (Nasdaq: CDXS).

 

On the downside 


Profit taking weighed down shares of Tintri (Nasdaq: TNTR).


Essent Group (NYSE: ESNT) chief executive Mark Casale sold 370,673 shares of company stock.


Shares of Blue Apron (NYSE: APRN) fell again over concerns about an increasingly crowded meal-kit delivery market.


In the broad market, advancing issues outpaced decliners by a margin of 5 to 4 on the NYSE and by nearly 3 to 2 on Nasdaq. The broader S&P 500 lost 3 points to 2,783. Bitcoin crashed $534 to $9,011.


Apple to buy Texture

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The markets traded mixed during the midday with the Dow plunging 103 points to 25,232. Nasdaq climbed 39 points to 7600.


Apple will acquire digital magazine subscription service Texture for an undisclosed sum. Modeled after Netflix's streaming service, Texture users pay $9.99 per month for access to over 200 magazines such as Esquire, Good Housekeeping, People and Vanity Fair. Articles can also be downloaded to be read on airplanes or in remote areas that lack internet access.


Ford will introduce a limited edition Mustang GT California Special next year that boasts a 5-liter, 460 horsepower, 8-cylinder engine. The California Special will feature a blacked out grille, a side stripe and vintage inspired colors such as Velocity Blue and Need for Speed Green. Customers can also upgrade to a 12-speaker B&O Play audio system.


Dropbox has filed for an initial public offering at a valuation of $7.1 billion. Three years ago, the cloud storage service was valued at approximately $10 billion. The company reported revenue of $1.11 billion in 2017.


In the broad market, advancing issues outpaced decliners by a margin of 5 to 4 on the NYSE and by 3 to 2 on Nasdaq. The broader S&P 500 edged up a point to 2,787. Bitcoin tumbled $643 to $8,901.


The markets opened higher with the Dow rising 37 points to 25,372 as last week's upbeat jobs data continued to boost investor enthusiasm. Nasdaq gained 21 points to 7581.


On the upside


Fourth quarter earnings and revenue surged for Quidian (NYSE: QD).


Nomura Instinet lifted its price target on Micron Technology (Nasdaq: MU) from $55 to $100.


Shares of Dick's Sporting Goods (NYSE: DKS) rose ahead of its earnings release before market open tomorrow.

 

On the downside 


Shares of Welltower (NYSE: HCN) fell again.


Investors locked in profits on MGIC Investment (NYSE: MTG).


Profit taking weighed down shares of Radian Group (NYSE: RDN).


In the broad market, advancing issues outpaced decliners by a margin of more than 3 to 2 on both the NYSE and on Nasdaq. The broader S&P 500 added 4 points to 2,790. Bitcoin tumbled $163 to $9,381.


Strong jobs growth sent the markets soaring to a sharply higher close with the Dow rocketing 440 points to 25,335. Nasdaq leaped 132 points to 7560.


On the upside


Coherus Biosciences (Nasdaq: CHRS) narrowed losses for the fourth quarter.


Spark Energy (Nasdaq: SPKE) reported sharply higher fourth quarter earnings and declared a quarterly cash dividend.


PDL BioPharma (Nasdaq: PDLI) reversed year ago losses to post a profit for the fourth quarter.

 

On the downside 


Big Lots (NYSE: BIG) reported higher fourth quarter earnings but same store sales slipped.


Yext (NYSE: YEXT) reported a loss for the fourth quarter.


Calithera Biosciences (Nasdaq: CALA) reported a wider than expected loss for the fourth quarter.


In the broad market, advancing issues outpaced decliners by a margin of 3 to 1 on both the NYSE and on Nasdaq. The broader S&P 500 surged 47 points to 2,786. Bitcoin tumbled $177 to $9,092.


The markets extended its gains during the midday with the Dow leaping 380 points to 25,275. Nasdaq jumped 105 points to 7532.


Former President Barack Obama is reportedly engaged in discussions to produce content for Netflix. The exclusive content has the potential to reach 118 million global subscribers of the streaming service. Details of the deal have not been finalized but both Obama and former first lady Michelle Obama will be involved.


Goldman Sachs chief executive Lloyd Blankfein may retire at the end of the year. He has held the position for nearly twelve years and guided the investment bank through the financial crisis. Co-chief operating officers Harvey Schwartz and David Solomon are in the running to take over the top post.


Toys R Us may liquidate all of its stores in the U.S. The toy retailer filed for Chapter 11 bankruptcy protection in September 2017 and was working to streamline its operations. However, a disappointing holiday quarter has prompted conversations about viability of its business model.


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 2 Nasdaq. The broader S&P 500 surged 38 points to 2,776. Bitcoin plummeted $377 to $8,892.


An upbeat jobs report lifted the markets to a higher open with the Dow climbing 109 points to 25,004. Nasdaq gained 48 points to 7475.


On the upside


BTIG upgraded Nutanix (Nasdaq: NTNX) from a Hold rating to a Buy rating.


Wynn Resorts (Nasdaq: WYNN) will pay $2.6 billion to settle a lawsuit that resolves all claims between Wynn Resorts, Universal Entertainment and Aruze.


United Natural Foods (Nasdaq: UNFI) reported higher second quarter earnings and revenue.

 

On the downside 


Finisar (Nasdaq: FNSR) fell to a greater than expected loss for the third quarter.


A report that Toys R Us may liquidate all of its stores in the U.S. sent shares of Mattel (Nasdaq: MAT) lower.


ZTO Express (NYSE: ZTO) announced the resignation of chief financial officer James Guo.


In the broad market, advancing issues outpaced decliners by a margin of nearly 7 to 3 on the NYSE and by 2 to 1 Nasdaq. The broader S&P 500 climbed 14 points to 2,752. Bitcoin dropped $103 to $9,166.


President Donald Trump imposed new tariffs on imported steel and aluminum but exempted Canada and Mexico. The markets closed higher with the Dow climbing 93 points to 24,895. Nasdaq gained 31 points to 7427.


On the upside


PCM (Nasdaq: PCMI) reported a loss for the fourth quarter but the company forecast record results for 2018.


Jounce Therapeutics (Nasdaq: JNCE) reported a loss for the fourth quarter but the company reported that it was on track to file an Investigational New Drug for JTX-4014 in 2018.


Second quarter earnings surged for Comtech Telecommunications (Nasdaq: CMTL) and the company declared a quarterly cash dividend of 10 cents per share payable on May 18, 2018 to shareholders of record April 18, 2018.

 

On the downside 


Vascular Biogenics (Nasdaq: VBLT) reported disappointing results from a Phase 3 GLOBE study in patients with recurrent glioblastoma.


FTD (Nasdaq: FTD) reported preliminary results for 2017 but did not report fourth quarter results and warned that first quarter revenue would fall $20 million below internal expectations.


XOMA (Nasdaq: XOMA) reported a loss 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 6 to 5 Nasdaq. The broader S&P 500 climbed 12 points to 2,738. Bitcoin crashed $548 to $9,381.


The markets retreated to trade lower during the midday with the Dow dropping 75 points to 24,725. Nasdaq held steady at 7396.


Home Depot announced plans to donate $50 million to the Home Builders Institute to train construction workers over the next ten years. The funding will specifically target military veterans, high school students and disadvantaged youth. The Home Builders Institute currently prepares approximately 3,500 people each year for skilled jobs such as plumbers, electricians, and carpenters.


Hyundai will be recalling 154,753 model year 2011 Sonatas that are installed with air bags that may not inflate in the event of an accident. A short circuit in the the airbag control unit may prevent seat belts from tightening and both front and side airbags from deploying. The carmaker is still developing a remedy for the problem.


Merrill Lynch has agreed to pay a $1.25 million penalty to settle with the Securities and Exchange Commission. The regulatory agency had accused the bank of failing to properly prevent unregistered sales of a company's stock on behalf of a China-based issuer. Merrill Lynch has admitted to no wrongdoing as part of the settlement.


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 2,725. Bitcoin plummeted $516 to $9,413.


President Donald Trump vowed to be flexible with friendly nations regarding proposed tariffs. The markets opened higher with the Dow gaining 52 points to 24,853. Nasdaq climbed 26 points to 7422.


On the upside


Cigna (NYSE: CI) will acquire Express Scripts (Nasdaq: ESRX) in a cash and stock deal valued at approximately $67 billion.


Caesars Entertainment (Nasdaq: CZR) reversed year ago losses to post profit for the fourth quarter.


Okta (Nasdaq: OKTA) reported a smaller than expected loss for the fourth quarter.

 

On the downside 


Kroger (NYSE: KR) disappointed with fourth quarter earnings that merely met analyst expectations and forecast full year earnings below estimates.


American Eagle Outfitters (NYSE: AEO) reported higher fourth quarter earnings that met expectations.


Profit taking weighed down shares of CF Industries (NYSE: CF).


In the broad market, advancing issues outpaced decliners by a margin of 5 to 4 on the NYSE and by nearly 6 to 5 Nasdaq. The broader S&P 500 gained 6 points to 2,732. Bitcoin tumbled $129 to $9,800.


The markets closed mixed with the Dow tumbling 82 points to 24,801 over the prospect that proposed steel and aluminum tariffs may target only certain countries. Nasdaq gained 24 points to 7396.


On the upside


Fourth quarter earnings surged for Medifast (NYSE: MED).


Regenxbio (Nasdaq: RGNX) narrowed losses for the fourth quarter as revenue rose.


Korn/Ferry International (NYSE: KFY) reported higher third quarter earnings that topped analyst estimates.

 

On the downside 


Spectrum Pharmaceuticals (Nasdaq: SPPI) widened losses for the fourth quarter.


AeroVironment (Nasdaq: AVAV) reported a loss for the third quarter.


Credit Suisse analysts Robert Moscow and Neel Kulkarni downgraded B&G Foods (NYSE: BGS) from a Neutral rating to an Underperform rating and slashed their price target from $34 to $21.


In the broad market, advancing issues outpaced decliners 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 slipped a points to 2,726. Bitcoin crashed $722 to $9,902.


Coke developing alcoholic drink

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The markets extended its losses during the midday with the Dow plummeting 184 points to 24,699. Nasdaq rose 6 points to 7378.


Coca-Cola is developing its very first alcoholic drink that will be introduced in Japan. The soda maker is working on a version of the popular Chu-Hi flavored drinks in Japan that are made with distilled shochu alcohol, carbonated water and flavoring. There are currently no plans to bring the drink to the U.S. market.


Amazon announced that qualifying Medicaid recipients will be able to join Prime for $5.99 per month, an approximate 50% discount off the regular $12.99 per month fee. Prime members receive free two-day shipping on eligible items, free same-day delivery in eligible zip codes, unlimited video streaming of movies and television shows, and unlimited access to Prime Playlists. Amazon began offering a discounted Prime membership last year to people receiving government assistance such as the Supplemental Nutrition Assistance Program.


Virgin Atlantic will begin offering three tiers of economy fares in the spring. Economy delight, economy classic and economy light will provide customers different perks such as priority boarding and extra legroom or no extra services except for food and drink. Economy delight will allow customers to select their seats in advance will be the most expensive of the three fares.


In the broad market, declining issues were on par with advancers on the NYSE while advancers edged out decliners by more than 5 to 3 on Nasdaq. The broader S&P 500 fell 9 points to 2,718. Bitcoin collapsed $855 to $9,769.


The departure of President Donald Trump's top economic advisor Gary Cohn sent the markets plummeting to a open sharply lower with the Dow plunging 126 points to 24,758. Nasdaq tumbled 61 points to 7311.


On the upside


H&R Block (NYSE: HRB) reported a smaller than expected loss for the third quarter.


Autodesk (Nasdaq: ADSK) reported a loss for the fourth quarter that was smaller than expected as revenue climbed.


Momo (Nasdaq: MOMO) reported higher fourth quarter earnings and revenue.

 

On the downside 


Dollar Tree (Nasdaq: DLTR) disappointed with fourth quarter earnings and revenue that fell short of expectations.


Ross Stores (Nasdaq: ROST) reported higher fourth quarter earnings but the off-price retailer forecast same store sales growth below expectations.


Investors locked in profits on Baozun (Nasdaq: BZUN).


In the broad market, declining issues outpaced advancers by a margin of more than 5 to 3 on the NYSE and by nearly 6 to 5 on Nasdaq. The broader S&P 500 dropped 18 points to 2,710 Bitcoin tumbled $116 to $10,644.


Skepticism that talks with North Korea will yield a nuclear disarmament agreement tempered market enthusiasm. The markets closed modestly higher with the Dow adding 9 points to 24,884. Nasdaq climbed 41 points to 7372.


On the upside


Fourth quarter net income more than doubled by ACM Research (Nasdaq: ACMR).


CommerceHub (Nasdaq: CHUBA) (Nasdaq: CHUBK) will be taken private by GTCR and Sycamore Partners in an all cash deal valued at approximately $1.1 billion.


500.com (NYSE: WBAI) entered a framework agreement with the China Sports Lottery Administration Center to jointly develop physical channels to sell sports lottery tickets.

 

On the downside 


GlycoMimetics (Nasdaq: GLYC) reported a greater than expected loss for the fourth quarter.


Investors locked in profits on Infinity Pharmaceuticals (Nasdaq: INFI).


Marinus Pharmaceuticals (Nasdaq: MRNS) reported losses for fiscal years 2016 and 2017.


In the broad market, advancing issues outpaced decliners by a margin of nearly 7 to 3 on the NYSE and by nearly 2 to 1 on Nasdaq. The broader S&P 500 gained 7 points to 2,728. Bitcoin collapsed $761 to $10,794.


EC mulls retaliatory tariffs

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The markets retreated from early morning highs but continued trading in positive territory with the Dow rising 35 points to 24,909. Nasdaq climbed 38 points to 7368.


The European Commission has said that it would impose duties of 25% on products from the United States if the United States were to follow through with its threat to apply tariffs on imported steel and aluminum. The Commission identified three categories of products worth approximately $3.46 billion that will be targeted. Consumer products, the most valuable category that is worth approximately $1.23 billion, include shirts, jeans, footwear, cosmetics, motorcycles and recreational boats while the second most valuable category of food and drink includes bourbon whiskey, corn and orange juice.


Citigroup plans to launch a national digital bank by 2021. The fourth largest U.S. bank by assets currently has branches for individual customers in only six cities. As a digital bank, the company will open and service accounts through mobile phones, computers other digital devices.


Amazon announced that its free, two-hour delivery service for Whole Foods orders over $35.00 has been expanded to Prime members in Atlanta and San Francisco. The company began testing the Whole Foods delivery service for Prime customers last month in Austin, Cincinnati, Dallas and Virginia Beach. One hour delivery is available for a fee of $7.99. 


In the broad market, advancing issues outpaced decliners by a margin of more than 2 to 1 on the NYSE and by nearly 2 to 1 on Nasdaq. The broader S&P 500 gained 7 points to 2,728. Bitcoin crashed $896 to $10,659.


The possibility of talks between the United States and North Korea lifted the markets to a higher open with the Dow climbing 91 points to 24,965. Nasdaq gained 36 points to 7366.


On the upside


Baozun (Nasdaq: BZUN) reported sharply higher fourth quarter earnings that topped expectations.


Cien (NYSE: CIEN) reported a smaller than expected loss for the first quarter.


Clearside Biomedical (Nasdaq: CLSD) enrolled the first patient in a Phase 3 clinical trial of suprachoroidal CLS-TA to treat macular edema associated with Retinal Vein Occlusion.

 

On the downside 


Profit taking weighed down shares of Welltower (NYSE: HCN).


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


Fourth quarter earnings for Target (NYSE: TGT) fell short of expectations.


In the broad market, advancing issues outpaced decliners by a margin of 6 to 5 on both the NYSE and on Nasdaq. The broader S&P 500 climbed 10 points to 2,730. Bitcoin plummeted $562 to $10,994.


House Speaker Paul Ryan urged President Donald Trump to abandon his proposal to implement steep tariffs on steel and aluminum. The markets welcomed the move by sending the markets soaring to close sharply higher with the Dow vaulting 336 points to 24,874. Nasdaq leaped 72 points to 7330.


On the upside


Shares of Marinus Pharmaceuticals (Nasdaq: MRNS) rose ahead of its earnings release next week.


Stitch Fix (Nasdaq: SFIX) stock extended its gains.


Shares of Upland Software (Nasdaq: UPLD) climbed ahead of its earnings release later this week.

 

On the downside 


Spartan (NYSE: SPA) terminated its proposed merger with Ultra Electronics Holdings.


Shares of Blue Apron (NYSE: APRN) fell on news that Walmart (NYSE: WMT) will begin offering prepared meals at its brick and mortar locations.


GlycoMimetics (Nasdaq: GLYC) announced the design of its Phase 3 clinical trial of GMI-1271 in combination with MEC or FAI to treat patients with relapsed/refractory acute myeloid leukemia.


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 soared 29 points to 2,720. Bitcoin added $23 to $11,579.


The markets recovered during the midday to trade sharply higher with the Dow rocketing 305 points to 24,843. Nasdaq soared 71 points to 7329.


Approximately 2,000 hourly Ford employees will be temporarily laid off beginning in early May through October. The assembly and stamping plants in Wayne, Michigan where the employees work will be reconfigured to build Ranger pickup trucks and Bronco sport utility vehicles. Workers who have been with Ford for at least a year will receive approximately 75% of their regular pay during the plant closures.


Amazon may begin offering a product that is similar to a checking account. The online retailing giant has engaged in discussions with JPMorgan Chase and Capital One Financial to develop a product to target millennials and younger customers who may not have bank accounts. Amazon will merely offer the new product to customers and has no plans to become a bank.


Pizza Hut introduced its Pie Tops II Bluetooth-enabled high-top sneakers that can order pizza. The shoes must be paired with an owner's smartphone and a Pie Tops app. Fifty pairs of Pie Tops II will be available at online retail site HBX beginning the week of March 19.


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 28 points to 2,719. Bitcoin leaped $281 to $11,666.


Potential tariffs on steel and aluminum continued to weigh on investors who sent the markets down to a lower open with the Dow falling 67 points to 24,471. Nasdaq lost 35 points to 7222.


On the upside


AXA will acquire XL Group (NYSE: XL) for a premium of approximately $15.3 billion.


Deutsche Bank upgraded Valeant Pharmaceuticals (NYSE: VRX) from a Hold rating to a Buy rating.


Clearside Biomedical (Nasdaq: CLSD) reported positive results from a Phase 3 clinical trial of suprachoroidal CLS-TA in patients with macular edema associated with non-infectious uveitis.

 

On the downside 


Police in Brazil initiated a new phase of its investigation into BRF (NYSE: BRFS) for evading food safety checks.


Babcock & Wilcox Enterprises (NYSE: BW) established March 15, 2018 as the record date to determine which shareholders would be entitled to participate in the company's common stock rights offering.


Dermira (Nasdaq: DERM) reported disappointing results from two Phase 3 trials of olumacostat glasaretil in patients nine years of age and older with moderate to severe acne vulgaris.


In the broad market, declining issues outpaced advancers by a margin of nearly 3 to 2 on the NYSE and by more than 5 to 3 on Nasdaq. The broader S&P 500 fell 10 points to 2,681. Bitcoin climbed $119 to $11,504.


The markets closed mixed with the Dow dropping 70 points to 24,538 as business leaders attempt to change President Donald Trump's stance on tariffs. Nasdaq soared 77 points to 7257.


On the upside


Quality Care Properties (NYSE: QCP) will take over ownership of HCR ManorCare and release all claims against the skilled nursing, assisted living, hospice and homecare business.


Intrexon (NYSE: XON) narrowed fourth quarter losses more than expected.


Southwestern Energy (NYSE: SWN) swung to a greater than expected profit for the fourth quarter.

 

On the downside 


Atlas Financial Holdings (Nasdaq: AFH) reported a drop in book value due to increased reserves.


Radius Health (Nasdaq: RDUS) widened losses for the fourth quarter.


Whitestone REIT (NYSE: WSR) reported fourth quarter funds from operations that fell short of expectations.


In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 3 on the NYSE and by nearly 3 to 1 on Nasdaq. The broader S&P 500 gained 13 points to 2,691. Bitcoin lost $37 to $11,069.


The markets traded lower during the midday with the Dow plunging 181 points to 24,427. Nasdaq gained 26 points to 7206.


A fourth major retailer has joined a growing list of companies that have changed their firearm sales policies in the wake of the shooting at Marjory Stonemason Douglas High School in Parkland, Florida that left 17 students and staff dead. L.L. Bean will no longer sell guns or ammunition to customers who are under the age of 21. Dick's Sporting Goods was the first retailer to change its policy on Wednesday, February 28.


REI has temporarily halted all orders from Vista Outdoor until the supplier issues a public statement about the Florida shooting and about its policies moving forward. The outdoor gear retailer sells Vista Outdoor brands Bell, Camelback, Camp Chef and Giro but it does not sell any weapons. Vista's Savage Arms brand makes a series of semiautomatic weapons.


BlackRock has asked gun manufacturers and retailers how the companies monitor the sale and use of firearms. The world's largest asset manager holds major stakes in American Outdoor Brands and Sturm Ruger & Co. BlackRock said that the questions were to ensure that weapons makers and retailers sufficiently manage the financial, reputational and litigation risks of their businesses.


In the broad market, advancing issues outpaced decliners by a margin of nearly 6 to 5 on the NYSE and by more than 2 to 1 on Nasdaq. The broader S&P 500 eased a point to 2,676. Bitcoin fell $96 to $10,876.


Concerns about an imminent trade war sent the markets tumbling to a sharply lower open with the Dow plummeting 214 points to 24,394. Nasdaq plunged 81 points to 7099.


On the upside


The Gap (NYSE: GPS) reported better than expected earnings and revenue for the fourth quarter.


Microsemi (Nasdaq: MSCC) will be acquired by Microchip Technology (Nasdaq: MCHP) in a deal valued at approximately $10.15 billion.


Nektar Therapeutics (Nasdaq: NKTR) narrowed losses for the fourth quarter as revenue surged.

 

On the downside 


Foot Locker (NYSE: FL) fell to a loss for the fourth quarter.


JD.com (Nasdaq: JD) reported a loss for the fourth quarter.


Pure Storage (NYSE: PSTG) reported fourth quarter loss.


In the broad market, declining issues outpaced advancers by a margin of 7 to 2 on the NYSE and by more than 2 to 1 on Nasdaq. The broader S&P 500 dropped 19 points to 2,658. Bitcoin tumbled $137 to $10,835.


The threat of a trade war with China sent the markets plunging to close sharply lower with the Dow collapsing 420 points to 24,608. Nasdaq plummeted 92 points to 7180.


On the upside


Bargain hunters lifted shares of LendingClub (NYSE: LC).


3D Systems (NYSE: DDD) reported preliminary fourth quarter earnings that were better than expected.


Harmonic (Nasdaq: HLIT) reported a smaller than expected loss for the fourth quarter.

 

On the downside 


Portola Pharmaceuticals (Nasdaq: PTLA) widened losses for the fourth quarter as revenue plunged.


WageWorks (NYSE: WAGE) delayed the release of its fourth quarter and full year results.


Fourth quarter earnings and revenue for Monster Beverage (Nasdaq: MNST) fell short of analyst expectations.


In the broad market, declining issues outpaced advancers by a margin of nearly 3 to 2 on both the NYSE and on Nasdaq. The broader S&P 500 plummeted 36 points to 2,677. Bitcoin rocketed $612 to $11,021.


Target partners with Hunter

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The markets sank during the midday with the Dow crashing 495 points to 24,533. Nasdaq collapsed 118 points to 7154.


Target has partnered with boot maker Hunter to design a new line of apparel and accessories for the whole family. More than 300 limited edition items for men, women and children that are priced between $5 to $45 will be available beginning on April 14 at select stores and online at Target.com. The collaboration will also produce a collection of outdoor goods such as camping supplies, coolers, and hammocks.


President Donald Trump announced plans to impose steep tariffs on steel and aluminum imports in order to protect American companies. A 25% tariff will be imposed on imported steel while 10% will be imposed on imported aluminum. Some U.S. manufacturers have criticized the plan saying that prices will climb while economists warned that the tariffs will trigger a trade war with China.


Kroger has joined Dick's Sporting Goods and Walmart to become the third major retailer to raise the minimum age for a customer to purchase a gun. The grocery store chain's Fred Meyer stores will no longer sell guns and ammunition to people under the age of 21. Fred Meyer stores in Idaho, Oregon and Washington stopped selling assault-style rifles several years ago and its stores in Alaska will not longer fill special orders for those type of weapons.


In the broad market, declining issues outpaced advancers by a margin of more than 2 to 1 on the NYSE and by nearly 2 to 1 on Nasdaq. The broader S&P 500 plummeted 44 points to 2,713. Bitcoin rocketed $470 to $10,879.


The markets opened flat with the Dow slipping 5 points to 25,024 as consumer spending edged up 0.2% in January. Nasdaq added a point to 7274.


On the upside


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


AmTrust Financial Services (Nasdaq: AFSI) will be taken private by Stone Point, chief executive Barry Zyskind, and the Karfunkel family in a deal valued at approximately $2.7 billion.


ILG (Nasdaq: ILG) reported sharply higher fourth quarter earnings that more than doubled.

 

On the downside 


Colony NorthStar (NYSE: CLNS) widened fourth quarter losses.


Fourth quarter revenue slipped for Patterson Companies (Nasdaq: PDCO).


Box (NYSE: BOX) reported a loss for the fourth quarter and forecast fiscal 2019 revenue below expectations.


In the broad market, declining issues outpaced advancers by a margin of nearly 6 to 5 on the NYSE and by nearly 3 to 2 on Nasdaq. The broader S&P 500 plunged 30 points to 2,713. Bitcoin leaped $355 to $10,764.


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