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September 01, 2020 10:18am
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Earnings disappoint, markets plummet

The markets closed sharply lower with the Dow collapsing 217 points to 17,711 as corporate earnings disappointed. Nasdaq plummeted 49 points to 4,760.


On the upside


Encana (NYSE: ECA) may sell some of its shale assets in Western Canada.


Celator Pharmaceuticals (Nasdaq: CPXX) reported a loss for the first quarter and affirmed its plans to submit Vyxeos for FDA approval this year.


A.M. Castle & Co. (NYSE: CAS) widened losses for the first quarter but the stock price rose.

On the downside


Profit taking sank shares of Momo (Nasdaq: MOMO).


The Justice Department is investigating the contracts between Endo International (Nasdaq: ENDP) and pharmacy benefit managers.


Wedbush downgraded Epirus Biopharmaceuticals (Nasdaq: EPRS) from an Outperform rating to a Neutral rating.

In the broad market, declining issues outpaced advancers by a margin of more than 5 to 3 on the NYSE and by nearly 5 to 2 on Nasdaq. The broader S&P 500 tumbled 19 points to 2,064. Bitcoin added $1 to $451.

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