Losses extended at midday

The markets extended its losses during the midday with the Dow losing 60 points to 17,562. Nasdaq fell 15 points to 5,018.


On the upside


The Wall Street Journal reported that Walgreens (Nasdaq: WBA) was in advanced discussions to acquire Rite Aid (NYSE: RAD).


XOMA (Nasdaq: XOMA) initiated a Phase 2 proof-of-concept study for XOMA 358 in patients with congenital hyperinsulinism.


Agios Pharmaceuticals (Nasdaq: AGIO) will present data from a Phase 1 study of AG-120 in patients with IDH1-mutant positive advanced tumors at the AACR-NCI-EORTC International Conference on Molecular Targets and Cancer Therapeutics next week.


On the downside


Roadrunner Transportation (NYSE: RRTS) cut its third quarter guidance.


Endologix (Nasdaq: ELGX) reported a loss for the third quarter and announced plans to offer $150 million in convertible senior notes.


Intrepid Potash (NYSE: IPI) widened losses for the third quarter as sales plunged.

In the broad market, declining issues outpaced advancers by a margin of nearly 4 to 1 on the NYSE and by nearly 3 to 1 on Nasdaq. The broader S&P 500 dropped 10 points to 2,060. Bitcoin climbed $10 to $293.

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