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September 01, 2020 10:18am
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Markets Extend Gains On Upbeat Earnings

The markets extended its gains during the midday with the Dow soaring 161 points to 12,966 on upbeat earnings news. Nasdaq surged 32 points to 3048.

On the upside

Fusion-io (NYSE: FIO) introduced its Fusion ioFX for visual effects professionals.

Eldorado Gold (NYSE: EGO) announced that gold production is expected to increase by approximately 160% over the next five years.

Rowan Companies (NYSE: RDC) will change its corporate structure to become a wholly owned subsidiary of a U. K. parent and will pursue a Class A Share structure in order to maintain listing on the New York Stock Exchange.

On the downside

Avid Technology (Nasdaq: AVID) warned of losses for the first quarter and expects revenue to miss analyst expectations.

Swisher Hygiene (Nasdaq: SWSH) delayed filing its annual report due to an internal review by its audit committee.


Concerns that Roche may abandon its unsolicited acquisition offer for Illumina (NYSE: ILMN) sank shares of the biotechnology firm.

In the broad market, advancing issues outpaced decliners by a margin of more than 4 to 1 on the NYSE and by more than 3 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks leaped 12 points to 808.

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