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September 01, 2020 10:18am
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Markets flat despite improving labor market

The markets traded flat during the midday with the Dow slipping 5 points to 16,564 despite an improving labor market as investors focused on global developments. Nasdaq fell 11 points to 4390.

On the upside 

Kite Realty Group Trust (NYSE: KRG) completed a 1-for-4 reverse stock split.

Dealertrack Technologies (Nasdaq: TRAK) fell to a loss for the second quarter but the results were better than expected and the company lifted its full year earnings and revenue guidance.

Arotech (Nasdaq: ARTX) reported higher second quarter earnings and revenue.

On the downside 

Millennial Media (NYSE: MM) widened second quarter losses.

Kate Spade (NYSE: KATE) narrowed second quarter losses more than expected as revenue climbed but the stock price dropped over concerns of slowing growth. 

Nuance Communications (Nasdaq: NUAN) widened third quarter losses and forecast current quarter earnings and revenue that fell short of analyst expectations.

In the broad market, declining issues outpaced advancers by a margin of nearly 3 to 2 on the NYSE and by more than 2 to 1 on Nasdaq. The broader S&P 500 lost 2 points to 1934. Bitcoin slipped $3 to $569.

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