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September 01, 2020 10:18am
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Crude oil falls, markets drop

Crude oil prices fell again to send the markets tumbling with the Dow plunging 117 points to 17,959. Nasdaq rose 9 points to 4,992.

On the upside

Nevro (NYSE: NVRO) widened losses for the fourth quarter but revenue soared and the company forecast higher full year revenue.

Juno Therapeutics (Nasdaq: JUNO) widened fourth quarter losses more than expected but the company noted that ten of its product candidates will enter clinical development in the next year.

Kite Pharma (Nasdaq: KITE) surged again after announcing on Tuesday that it had acquired privately held T-Cell Factory.

On the downside

Investors locked in profits on Cumulus Media (Nasdaq: CMLS).

Shares of Altisource Portfolio Solutions (Nasdaq: ASPS) extended its losses.
 
RMG Networks (Nasdaq: RMGN) postponed the release of its fourth quarter and full year results and announced that the company has entered into discussions for a possible sale of its media business RMG Airline Media Network.

In the broad market, declining issues outpaced advancers by a margin of more than 5 to 3 on the NYSE while advancers edged out decliners by a margin of 10 to 9 on Nasdaq. The broader S&P 500 fell 10 points to 2089. Bitcoin rose $7 to $259.

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