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September 01, 2020 10:18am
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Government Shutdown Fears Weigh Down Stocks

Concerns that the federal government could shutdown weighed the markets down to a lower close with the Dow losing 49 points to 15,401 over concerns of a government shutdown. Nasdaq slipped 9 points to 3765.

On the upside

Leerink Swann lifted its price target on Celldex Therapeutics (Nasdaq: CLDX) from $28 to $45 per share.

Cardiome Pharma (Nasdaq: CRME) reported upbeat study results for its vernakalant intravenous in patients with atrial fibrillation.

Alnylam Pharmaceuticals (Nasdaq: ALNY) reported positive results from a Phase I clinical trial of its ALN-TTRsc for treating TTR-mediated amyloidosis.

On the downside

A number of law firms have launched investigations into L & L Energy (Nasdaq: LLEN) for securities law violations.

AAA Research issued a report on InvenSense (NYSE: INVN).

DividendChannel wrote that Cooper Tire & Rubber (NYSE: CTB) was oversold.  

In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 5 on the NYSE and by more than 9 to 7 on Nasdaq. The broader S&P 500 fell 8 points to 1701.

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