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September 01, 2020 10:18am
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Markets Open Flat Ahead Of Factory Orders Report

The markets opened flat with the Dow slipping a point to 13,263 while Nasdaq rose 6 points to 3126 ahead of the Commerce Department’s factory orders report later this morning.

On the upside

Billionaire investor Carl Icahn said that 55% of CVR Energy (NYSE: CVI) stock was tendered to him increasing his holdings to 69% of the company.

Solazyme (Nasdaq: SZYM) and Bunge (NYSE: BG) formed a joint venture to build, own and operate a renewable oil production facility in Brazil.

Delta Air Lines (NYSE: DAL) reported strong March consolidated passenger unit revenue.

On the downside

Mitek Systems (Nasdaq: MITK) said that claims made by United Services Automobile Association in a lawsuit were without merit.

Rigrodsky & Long filed a class action lawsuit against A123 Systems (Nasdaq: AONE) alleging securities fraud.


Ladenburg Thalmann downgraded Keryx Biopharmaceuticals (Nasdaq: KERX) after the company reported disappointing results from a Phase III clinical trial of its colon cancer treatment perifosine yesterday.

In the broad market, declining issues outpaced advancers by a margin of 7 to 5 on the NYSE and by more than 3 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a fraction to 839.

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