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September 01, 2020 10:18am
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Consumer Prices Edge Up, Markets Open Higher

The markets opened higher with the Dow gaining 45 points to 15,540 as consumer prices edged up a smaller than expected 0.1% in August. Nasdaq rose 11 points to 3729.

On the upside

Private equity firm Sycamore Partners acquired an 8% stake in Aeropostale (NYSE: ARO).

The European Commission granted marketing authorization to Dendreon (Nasdaq: DNDN) for its prostate cancer treatment Provenge.

Repros Therapeutics (NYSE: RPRX) reported upbeat preliminary results from a safety study of its secondary hypogonadism treatment Androxal.

On the downside

Pandora Media (NYSE: P) will raise capital through an offering of 10 million common shares.

Outerwall (Nasdaq: OUTR) blamed weak DVD rentals for cutting its third quarter and full year guidance.

Investors locked in profits on Omeros (Nasdaq: OMER).  

In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 3 on the NYSE and by nearly 10 to 9 on Nasdaq. The broader S&P 500 added 4 points to 1702.

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