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September 01, 2020 10:18am
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Strong Retail Sales Lift Markets At Midday

The markets advanced during the midday with the Dow soaring 134 points to 11,612 on strong September retail sales. Nasdaq surged 39 points to 2659.

On the upside

StockCall.com issued a research report on Lincoln National (NYSE: LNC).  

Activist investor Carl Icahn paid approximately $118.1 million for 7.1 million shares of Navistar International (NYSE: NAV) to take a 9.8% stake in the vehicle manufacturer. 

OXiGENE (Nasdaq: OXGN) terminated its financing agreement with Kingsbridge Capital.

On the downside

Chipworks reported that Apple’s (Nasdaq: AAPL) iPhone 4S uses a Sony (NYSE: SNE) camera sensor sending shares of rival OnmiVision Technologies (Nasdaq: OVTI) tumbling.   

The Defense Department said that AVI BioPharma’s (Nasdaq: AVII) influenza treatment failed to qualify for a contract.

Microchip Technology (Nasdaq: MCHP) cut its second quarter earnings outlook. 

In the broad market, advancing issues outpaced decliners by a margin of nearly 4 to 1 on the NYSE and by nearly 5 to 2 on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 10 points to 709.

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