The markets retreated from early morning highs to trade mixed during the midday with the Dow climbing 80 points to 16,465 after Democratic presidential candidate Hillary Rodham Clinton announced an upcoming proposal to control the cost of prescription drugs. Nasdaq slipped 2 points to 4,824.
On the upside
Barron's wrote that Medallion Financial (Nasdaq: TAXI) was oversold.
The Copyright Office affirmed the admissibility of Pandora Media's (NYSE: P) agreement with Merlin in the Copyright Royalty Board proceedings.
Shares of Vascular Biogenics (Nasdaq: VBLT) extended its gains.
On the downside
Barron's wrote that strong competition from Apple (Nasdaq: AAPL) could send shares of GoPro (Nasdaq: GPRO) plummeting.
Tribune Publishing (NYSE: TPUB) cut its full year revenue guidance.
Netflix (Nasdaq: NFLX) disappointed with only four Emmy wins last night on 34 nominations.
In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 3 on the NYSE while decliners barely edged out advancers by nearly 10 to 9 on Nasdaq. The broader S&P 500 rose 6 points to 1,964. Bitcoin slipped $2 to $227.
Mixed markets on prescription drug proposal
September 21, 2015 at 15:09 PM EDT