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September 01, 2020 10:18am
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Jobless Claims Fall But Markets Open Lower

First time applications for unemployment benefits fell last week but the markets opened lower with the Dow slipping 8 points to 15,738. Nasdaq dropped 37 points 3894.

On the upside

Geron’s (Nasdaq: GERN) myelofibrosis treatment imetelstat successfully treated patients in a Mayo Clinic study.

Celldex Therapeutics (Nasdaq: CLDX) reported positive interim results from a Phase I study of cancer treatment CDX-1127.

HomeAway (Nasdaq: AWAY) reported sharply higher third quarter earnings and revenue that beat analyst expectations.

On the downside

InnerWorkings (Nasdaq: INWK) reported higher third quarter earnings and revenue but the results fell short of expectations prompting the company to lower its full year revenue forecast. 

ION Geophysical (NYSE: IO) fell to a loss for the third quarter due to a drop in revenue and a significant restructuring charge.

Shares of Suntech Power (NYSE: STP) continued falling after the company filed for provisional liquidation yesterday.

In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 4 on the NYSE and by more than 10 to 9 on Nasdaq. The broader S&P 500 lost 6 points to 1763.

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