OPEC agreed to cut oil production for the first time since 2008 sending the Dow to a higher open with the blue chip index gaining 52 points to 19,174. Nasdaq fell 23 points 5,356.
On the upside
The Department of Energy awarded Superconductor Technologies (Nasdaq: SCON) $4.5 million to improve the manufacturing process of superconductive wires.
Shares of California Resources (NYSE: CRC), Oasis Petroleum (NYSE: OAS) and WPX Energy (NYSE: WPX) climbed as OPEC agreed to cut production.
Shares of Globus Maritime (Nasdaq: GLBS) extended its gains.
On the downside
Arrowhead Pharmaceuticals (Nasdaq: ARWR) will discontinue development of clinical stage drug candidates ARC-520, ARC-521 and ARC-AAT.
American Eagle Outfitters (NYSE: AEO) reported higher third quarter earnings and revenue but same store sales growth fell short of expectations and the company forecast current quarter earnings below estimates.
Costamere (NYSE: CMRE) priced its public offering of 12 million common shares at the discounted price of $6.00 per share.
In the broad market, declining issues outpaced advancers by a margin of nearly 10 to 9 on the NYSE while advancers edged out decliners by nearly 10 to 9 on Nasdaq. The broader S&P 500 rose 4 points to 2,208. Bitcoin gained $6 to $737.
