Higher open as retail sales rise more than expected

The markets opened higher with the Dow gaining 25 points to 20,529 as January retail sales rose more than expected. Nasdaq added 2 points to 5,785.


On the upside


The Food and Drug Administration exempted Evoke Pharma's (Nasdaq: EVOK) Gimoti from a Human Factors Validation study requirement.


Fortress Investment Group (NYSE: FIG) will be acquired by SoftBank for a premium of approximately $3.3 billion in cash.


Groupon (Nasdaq: GRPN) reported higher revenue for the fourth quarter.


On the downside


Wells Fargo downgraded Fossil Group (Nasdaq: FOSL) from a Market Perform rating to an Underperform rating.


AIG (NYSE: AIG) widened losses significantly for the fourth quarter.


Sino-Global Shipping America (Nasdaq: SINO) announced a $4.77 million registered direct offering.


In the broad market, advancing issues outpaced decliners by a margin of nearly 10 to 9 on the NYSE and by more than 10 to 9 on Nasdaq. The broader S&P 500 index eased a fraction to 2,336. Bitcoin held steady at $1,002.


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