Financial News

Lower Close Ahead Of Fed Meeting

Small business confidence rose in November but the markets closed lower with the Dow falling 52 points to 15,973 in anticipation of the Federal Reserve's meeting next week. Nasdaq lost 8 points to 4060.

On the upside

Enanta Pharmaceuticals (Nasdaq: ENTA) reported very high response rates in hepatitis C patients treated with the protease inhibitor ABT-450 in a SAPPHIRE-II study.

Apollo Global Management will sell all of its holdings in EVERTEC (NYSE: EVTC) with EVERTEC repurchasing $75 million worth of its common stock.

Deutsche Bank initiated coverage of 3D Systems (NYSE: DDD) with a Buy rating.


On the downside


Icahn Enterprises (Nasdaq: IEP) will sell 2 million depositary units.

StealthGas (Nasdaq: GASS) will offer 10 million common shares through a public offering.

Needham upgraded Geron (Nasdaq: GERN) from a Hold rating to a Buy rating but the stock price fell.

In the broad market, declining issues outpaced advancers by a margin of more than 3 to 2 on the NYSE and by nearly 2 to 1 on Nasdaq. The broader S&P 500 fell 5 points to 1802. Bitcoin soared $130.20 or 14.36% to $1,037.20.

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