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September 01, 2020 1:37pm
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Markets soar as tech sector earnings impress

Impressive technology sector earnings boosted the markets to a higher close with the Dow gaining 33 points to 23,434. Nasdaq surged 144 points to 6,701.


On the upside


GAIN Capital Holdings (NYSE: GCAP) narrowed losses for the third quarter as revenue rose.


Axalta Coating Systems (NYSE: AXTA) is engaged in early stage discussions to be acquired by Akzo Nobel.


Tivity Health (Nasdaq: TVTY) reported sharply higher third quarter earnings as revenue rose.

On the downside


J.C. Penney (NYSE: JCP) slashed its forecast for the full year.


Electronics for Imaging (Nasdaq: EFII) reported sharply lower third quarter earnings.


Versartis (Nasdaq: VSAR) widened third quarter losses more than expected.


In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 3 on both the NYSE and on Nasdaq. The broader S&P 500 climbed 20 points to 2,581. Bitcoin added $8 to $5,754.


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