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September 01, 2020 10:18am
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Sharply Higher Open Ahead Of Earnings

The markets opened sharply higher with the Dow soaring 108 points to 15,244 ahead of earnings season. Nasdaq rose 10 points to 3490.

On the upside

OptionMonster wrote that purchases of Yingli Green Energy’s (Nasdaq: YGE) August 4 calls surged. 

Bank of America upgraded Linn Energy (Nasdaq: LINE) saying that the company’s accounting practices have not misled investors. 

Luna Innovations (Nasdaq: LUNA) announced a multi-year development and supply agreement with Intuitive Surgical (Nasdaq: ISRG).

On the downside

Investors locked in profits on Celldex Therapeutics (Nasdaq: CLDX).

Cytokinetics (Nasdaq: CYTK) reported a programming error in a Phase IIb double-blind, randomized, placebo-controlled clinical trial of tirasemtiv.

Evercore downgraded ON Semiconductor (Nasdaq: ONNN) from an Overweight rating to an Equal Weight rating.   

In the broad market, advancing issues outpaced decliners by a margin of more than 3 to 1 on the NYSE and by nearly 5 to 3 on Nasdaq. The broader S&P 500 index climbed 11 points to 1643.

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