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September 01, 2020 10:18am
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Mixed markets as crude oil slips

The markets opened mixed with the Dow slipping 11 points to 17,465 as crude oil prices slipped. Nasdaq added 5 points to 5,053.

On the upside

AVEO Pharmaceuticals (Nasdaq: AVEO) entered an exclusive worldwide license agreement for Novartis (NYSE: NVS) to develop and commercialize AV-380.

QVC owner Liberty Interactive (Nasdaq: QVCA) will pay a premium of approximately $2.4 billion in cash and stock to acquire zulily (Nasdaq: ZU).
 
Sprint (NYSE: S) introduced its iPhone Forever plan offering iPhone (Nasdaq: AAPL) upgrades for only $22 per month.
 
On the downside

Wedbush Securities downgraded Micron Technology (Nasdaq: MU) from an Outperform rating to a neutral rating.

Investors continued to lock in profits on Onconova Therapeutics (Nasdaq: ONTX).

Shares of Prima Biomed (Nasdaq: PBMD) extended its losses.

In the broad market, declining issues outpaced advancers by a margin of 3 to 1 on the NYSE and by nearly 5 to 2 on Nasdaq. The broader S&P 500 slipped 8 points to 2,088. Bitcoin edged up a fraction to $256.

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