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September 01, 2020 10:18am
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Surge in construction spending lifts markets

The markets advanced during the midday with the Dow climbing 74 points to 18,085 as the nation's construction spending soared 2.2% in April. Nasdaq gained 24 points to 5,094.

On the upside

Intel (Nasdaq: INTC) will pay a premium of approximately $16.7 billion to purchase Altera (Nasdaq: ALTR).

SINA (Nasdaq: SINA) chief executive Charles Chao will purchase $456 million worth of company stock in cash.

Shares of ITT Educational Services (NYSE: ESI) continued soaring.

On the downside

Shares of Caesars Entertainment (Nasdaq: CZR) extended its losses.

Investors continued to lock in profits on Prima Biomed (Nasdaq: PBMD).

Hanwha Q CELLS (Nasdaq: HQCL) will change the ratio of American Depositary Shares (ADS) to ordinary shares from one ADS representing five ordinary shares to one ADS representing 50 ordinary shares.

In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 3 on the NYSE and by more than 7 to 5 on Nasdaq. The broader S&P 500 gained 9 points to 2116. Bitcoin lost $6 to $224.
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