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September 01, 2020 10:18am
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Markets Advance At Midday

The markets advanced during the midday with the Dow rising 15 points to 16,517. Nasdaq gained 27 points to 4,154.

On the upside 

First quarter earnings slipped for Citrix Systems (Nasdaq: CTXS) but the results were better than expected and the company increased its stock repurchase program by $1.5 billion.

Maxim Group initiated coverage of Cesca Therapeutics (Nasdaq: KOOL) with a Buy rating.

D.R. Horton (NYSE: DHI) reported higher second quarter earnings and revenue that topped analyst expectations.

On the downside 

Fusion-io (NYSE: FIO) widened losses for the third quarter even as revenue rose.

First quarter earnings plunged for Ingram Micro (NYSE: IM) to fall short of analyst expectations.

Eagle Rock Energy Partners (Nasdaq: EROC) suspended its quarterly cash distribution prompting Bank of America to lower its price target on the company from $6.50 to $5.50.

In the broad market, advancing issues outpaced decliners by a margin of 9 to 7 on the NYSE while decliners edged out advancers by nearly 10 to 9 on Nasdaq. The broader S&P 500 rose 5 points to 1881. Bitcoin slipped $1.48 or 0.31% to $484.18.

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