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September 01, 2020 10:18am
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Drop In Jobless Claims Lifts Markets

A drop in jobless claims lifted the markets during the midday with the Dow rising 37 points to 13,231. Nasdaq gained 12 points to 3053.

On the upside

TowerStream (Nasdaq: TWER) reported a smaller than expected loss for the fourth quarter. 

Shares of CSX (NYSE: CSX) rose after Deutsche Bank Securities analyst Justin Yagerman said that investors oversold railroad stocks when coal demand fell.

Arch Coal (NYSE: ACI) named Lawrence Metzroth to the position of vice president of business development and market intelligence in Asia-Pacific and named Andrew Blumenfeld as vice president of analysis and strategy.

On the downside

KIT digital (Nasdaq: KITD) reversed year ago losses to post a profit for the fourth quarter but warned that the company will not generate positive free cash flow in the first quarter.   

Cantor downgraded Eagle Bulk Shipping (Nasdaq: EGLE) from Hold to a Sell rating after the company said that it had an oversupply of vessels. 

  

Interxion Holdings (NYSE: INXN) shareholder Chianna Investment distributed approximately 10 million shares to Baker Communications Fund partners.

In the broad market, advancing issues outpaced decliners by a margin of 4 to 3 on the NYSE and by nearly 5 to 3 on Nasdaq. The Russell 2000 which tracks small cap stocks gained 5 points to 828.

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