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16:57 EDTQCOMQualcomm considers sale of Vuforia unit, Re/code says
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16:56 EDTDARIntegrated Core Strategies reports 4.95% passive stake in Darling
16:54 EDTCDORCondor Hospitality Trust sells Super 8 for $3.2M
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16:52 EDTLSTRLandstar System backs Q3 EPS 87c-92c, consensus 90c
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16:49 EDTSIENSientra files to sell $75M of common stock
Piper Jaffray and Stifel are acting as joint book-running managers for the offering. Leerink Partners and William Blair are acting as co-managers.
16:49 EDTABIOARCA Biopharma disclosed common stock to trade on post-split basis on Sep. 4
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16:49 EDTCPHCGabelli reports 25.78% stake in Canterbury Park
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16:47 EDTZZillow announces pending sale of Market Leader to Constellation Software
Zillow Group announced the pending sale of Market Leader to the Perseus Division of Constellation Software for $23M. The sale is expected to close early in the fourth quarter.
16:44 EDTCOPConocoPhillips clarifies previous response to Carbon Disclosure Project
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16:40 EDTAPTSPreferred Apartment acquires 346-unit multifamily community
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16:39 EDTEZPWEZCORP completes USA Pawn acquisition, raises stake in Grupo Finmart
EZCORP announced that it has completed the acquisition of 13 USA Pawn & Jewelry pawn stores located in Arizona and Oregon. This purchase price for this acquisition was $12.5M in cash. The acquisition was completed in mid-August and is expected to be accretive to EZCORP's earnings beginning October 1. The company also announced that it has increased its ownership position in Prestaciones Finmart to 94%. The purchase price for the additional 18% interest was approximately $29M in cash. This acquisition was completed on September 1. Going forward, EZCORP will control the selection and composition of Grupo Finmart's board of directors. "However, to ensure continued alliance with local expertise and market knowledge, EZCORP will assemble an advisory board to support the strategic direction and institutionalization of the business," said the company.
16:39 EDTSIENSientra files to sell $86.25M of common stock
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16:37 EDTLENSPresbia nears completion of second stage enrollment in Microlens study
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16:35 EDTGLUUGlu Mobile appoints Greg Brandeau to board
Glu Mobile (GLUU) announced that Greg Brandeau has joined the company's board. Brandeau brings to Glu a strong background in technology management experience. As the former CTO of Walt Disney Animation Studios (DIS) and former SVP of Technology for Pixar Animation Studios, he is uniquely positioned to offer world-class engineering leadership expertise as Glu continues to expand its digital entertainment portfolio.
16:34 EDTNDAQNASDAQ reports monthly volumes for August
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16:34 EDTBBYBest Buy says founder Richard Schulze adopts 10b5-1 trading plan
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16:33 EDTMGPISEACOR Holdings reports 1% passive stake in MGP Ingredients
16:30 EDTFARMFarmer Bros. disclosed board voted to omit Q2 dividend payment
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16:30 EDTACORAcorda confirms Kyle Bass filed patent review requests
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16:27 EDTJOY, CAT, TEX, VZ, BGS, GIS, PSEM, DIOD, MEI, WRLD, CTLT, FIVEOn The Fly: Top stock stories for Thursday
Stocks on Wall Street began the session in positive territory thanks in part to dovish comments from the ECB. The averages were helped as well by the fact that the Chinese stock market, the source of so much volatility recently, was closed. The lack of distraction allowed buyers to be empowered and to extend the market's gains from yesterday. By noon, the averages had pared their gains, with the Nasdaq eventually crossing into negative territory. The average drifted near the flatline from there, as investors positioned ahead of tomorrow's jobs report. ECONOMIC EVENTS: In the U.S., initial jobless claims rose to 282,000 in the week ended August 29, versus expectations for 275,000 first-time claims. The trade balance report showed a deficit of $41.86B for July, versus expectations for a deficit of $42.2B. Markit's services PMI rose to 56.1 for the final August print, versus July's 55.7 and the 55.2 preliminary August reading. ISM's non-manufacturing index dipped to 59.0 in August, but that topped expectations for a reading of 58.2. In Europe, the European Central Bank left its benchmark interest rate unchanged, as expected, and economists at the bank trimmed their eurozone growth projections for this year and through 2017. ECB president Mario Draghi said the bank needs to determine if the recent global volatility is transitory before it decides "whether to do more or not," but also emphasized the bank's "willingness to act, its readiness to act and its ability to act." In Asia, Chinese markets were closed today and will be closed tomorrow for a holiday. COMPANY NEWS: Shares of Joy Global (JOY) plummeted $3.24, or 14.64%, to $18.89 following the company's report of lower than expected quarterly earnings and revenue. Joy's warnings about "one of the most challenging [end market environments] seen in decades" come as mining equipment makers like Caterpillar (CAT), Terex (TEX), and Joy grapple with low commodity prices leading to significantly reduced capital expenditures at mining firms. Shares of Dow member Caterpillar were the worst performer on the blue chip index, slipping 2.17% to $74.45 after Joy said ongoing challenges in commodity markets, along with slowing global economic growth, have "weighed on [its] customers' financial position and [its] incoming order rates." MAJOR MOVERS: Among the notable gainers was B&G Foods (BGS), which advanced $3.55, or 11.66%, to $34.00 after agreeing to purchase the Green Giant and Le Sueur vegetables brands from General Mills (GIS) for roughly $765M. Also higher was Pericom Semiconductor (PSEM), which gained $4.58, or 37.6%, to $16.76 after Diodes (DIOD) agreed to acquire the company for $17 per share. Shares of Diodes were also driven higher after the news, rising 11.8% to $21.89. Additionally, Methode Electronics (MEI) surged $5.43, or 19.82%, to $32.82 after releasing first quarter results and announcing a $100M share repurchase program. Among the noteworthy losers was World Acceptance (WRLD), which declined $2.21, or 5.95%, to $34.92 after Kase Capital's Whitney Tilson reiterated his belief that the stock is going to zero, as reported by ValueWalk. Also lower were Catalent (CTLT) and Five Below (FIVE), which dropped a respective 9.6% and 9.3% following their earnings reports. INDEXES: The Dow added 23.38, or 0.14%, to 16,374.76, the Nasdaq slid 16.48, or 0.35%, to 4,733.50, and the S&P 500 advanced 2.27, or 0.12%, to 1,951.13.
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