Markets plunge as earnings disappoint

Corporate earnings disappointed sending the markets tumbling to sharply lower close with the Dow collapsing 200 points to 18,128. Nasdaq plummeted 81 points to 5,246.


On the upside


Nymox Pharmaceutical (Nasdaq: NYMX) reported positive results from a Phase 3 study of fexapotide to treat enlarged prostate and localized prostate cancer.


Barclays upgraded Momenta Pharmaceuticals (Nasdaq: MNTA) from an Equal Weight rating to an Overweight rating.


Reuters reported that LPL Financial Holdings (Nasdaq: LPLA) was exploring a possible sale of the company.


On the downside


Composite wind blade manufacturer TPI Composites (Nasdaq: TPIC) extended two supply agreements with General Electric International but the stock price fell on news that GE was buying wind turbine blade maker LM Wind Power.


Vericel (Nasdaq: VCEL) entered an agreement to sell $25 million worth of common stock.


Impinj (Nasdaq: PI) will release third quarter results after market close on November 3, 2016.


In the broad market, declining issues outpaced advancers by a margin of nearly 7 to 1 on the NYSE and by more than 5 to 1 on Nasdaq. The broader S&P 500 plunged 26 points to 2,136. Bitcoin soared $21 to $637.

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