Tariffs exempt Canada and Mexico, markets close higher

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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.


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This page contains a single entry by published on March 8, 2018 1:53 PM.

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