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September 01, 2020 10:18am
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Markets Surge As Factory Output Soars

A surge in February factory output sent the markets soaring during the midday with the Dow jumping 165 points to 16,231. Nasdaq leaped 41 points to 4286. 

On the upside 

Bargain hunters lifted shares of AirMedia Group (Nasdaq: AMCN).

Sky-mobi (Nasdaq: MOBI) entered a strategic partnership with China Unicom.

A Food and Drug Administration advisory panel recommended approval for STAAR Surgical’s (Nasdaq: STAA) Visian Toric Implantable Lens.

On the downside

Wells Fargo downgraded Gray Television (NYSE: GTN) from an Outperform rating to a Market Perform rating. 

Raptor Pharmaceuticals (Nasdaq: RPTP) extended its losses.

Intercept Pharmaceuticals (Nasdaq: ICPT) reported adverse cardiac events in patients treated with its obeticholic acid.

In the broad market, advancing issues outpaced decliners by a margin of nearly 3 to 1 on the NYSE and by nearly 5 to 2 on Nasdaq. The broader S&P 500 surged 18 points to 1859. Bitcoin slipped $8.31 or 1.32% to $620.19.

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