Sign In  |  Register  |  About Burlingame  |  Contact Us

Burlingame, CA
September 01, 2020 10:18am
7-Day Forecast | Traffic
  • Search Hotels in Burlingame

  • CHECK-IN:
  • CHECK-OUT:
  • ROOMS:

GDP Plunges, Stocks Drop

The GDP plunged 3.8% in the fourth quarter, the quickest pace in nearly 27 years, to send the markets tumbling during the midday with the Dow falling 73 points to 8076. Nasdaq lost 11 points to 1497.

On the upside

Accuray (Nasdaq: ARAY) reported higher second quarter revenue and forecast full year results ahead of estimates prompting an upgrade.

Fourth quarter earnings and revenue as well as full year results surged for CyberSource (Nasdaq: CYBS) prompting an analyst upgrade.

Although earnings and revenue slipped for Digital River (Nasdaq: DRIV), the results surpassed expectations.

On the downside

Data Domain (Nasdaq: DDUP) reported sharply higher fourth quarter results but investors were disappointed with the results.

An analyst downgraded NOVA Chemicals (NYSE: NCX) after the company swung to a fourth quarter loss and posted a loss for the full year as well.

Gannett (NYSE: GCI) blamed lower advertising revenue for reporting preliminary fourth quarter earnings that dropped.

In the broad market, declining issues outpaced advancers by a margin of nearly 5 to 3 on the NYSE and by more than 5 to 4 on Nasdaq. The Russell 2000 which tracks small cap stocks eased a fraction to 453.

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
 
 
Copyright © 2010-2020 Burlingame.com & California Media Partners, LLC. All rights reserved.