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September 01, 2020 10:18am
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Mixed open as home prices surge

The markets opened mixed with the Dow slipping 15 points to 16,921 while Nasdaq added 2 points to 4,371 as home prices surged.

On the upside 

Vertex Pharmaceuticals (Nasdaq: VRTX) reported upbeat results in two Phase III clinical trials of a combination therapy of VX-809 and Kalydeco to treat cystic fibrosis.

xG Technology (Nasdaq: XGTI) was selected as a subcontractor to provide communications and network services to the U.S. Army.

MeetMe (Nasdaq: MEET) reached a milestone of more than 15 million chats in one day yesterday.

On the downside 

KNOT Offshore Partners (NYSE: KNOP) priced its public offering of 4.6 million common units at the discounted price of $28.43 per unit.

B. Riley downgraded Web.com (Nasdaq: WWWW) from a Buy rating to a Neutral rating.

Ladenburg lowered its price target on ParkerVision (Nasdaq: PRKR) from $12.85 to $5.25.

In the broad market, declining issues outpaced advancers by a margin of 9 to 7 on the NYSE and by 10 to 9 on Nasdaq. The broader S&P 500 eased a point to 1960. Bitcoin eased $2.29 or 0.39% to $584.18.

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