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September 01, 2020 10:18am
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Markets extend gains at midday

The markets extended its gains during the midday with the Dow leaping 162 points to 16,136. Nasdaq jumped 74 points to 4,412.

On the upside

Shares of SunEdison (NYSE: SUNE) climbed as arguments began in a lawsuit to block the company’s $1.9 billion acquisition of Vivint Solar (NYSE: VSLR).

Rockwell Medical (Nasdaq: RMTI) entered an exclusive license agreement for Wanbang Biopharmaceutical to commercialize Rockwell’s Triferic and Calcitriol for End-Stage-Renal Disease patients.

Sonus Networks (Nasdaq: SONS) swung to a greater than expected profit for the fourth quarter and forecast current quarter results ahead of estimates.

On the downside

Tonix Pharmaceuticals (Nasdaq: TNXP) reported disappointing results from a Phase 2 proof-of-concept clinical study of TNX-201 in episodic tension-type headache.

Retreating crude oil prices weighed down shares of Bonanza Creek Energy (NYSE: BCEI).

Shares of Kinross Gold (NYSE: KGC) slipped as gold prices fell.

In the broad market, advancing issues outpaced decliners by a margin of nearly 4 to 1 on both the NYSE and on Nasdaq. The broader S&P 500 leaped 22 points to 1,887. Bitcoin climbed $9 to $408.

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