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September 01, 2020 10:18am
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Lower open as anti-austerity party wins in Greece

The markets opened lower with the Dow losing 15 points to 17,657 after anti-austerity party Syriza won the general election in Greece. Nasdaq slipped 3 points to 4,754.

On the upside

Ocwen Financial (NYSE: OCN) will pay $2.5 million to settle a mortgage compliance dispute with the California Department of Business Oversight.

MeadWestvaco (NYSE: MWV) will merge with Rock-Tenn (NYSE: RKT) to form a $16 billion company.

Universal Display (Nasdaq: OLED) entered an OLED technology license agreement and supplemental material purchase agreement with LG Display (NYSE: LPL).

On the downside

Seagate Technology (Nasdaq: STX) reported higher second quarter earnings and revenue but revenue fell short of analyst expectations.

Shares of National Bank of Greece (NYSE: NBG) fell after anti-austerity party Syriza won the general election in Greece.

Brookdale Senior Living (NYSE: BKD) lowered its full year guidance.

In the broad market, declining issues outpaced advancers by a margin of nearly 2 to 1 on both the NYSE and on Nasdaq. The broader S&P 500 held steady at 2051. Bitcoin rose $11 to $261.

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