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September 01, 2020 1:37pm
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Senators mull over tax bill, markets open higher

The markets opened modestly higher with the Dow rising 12 points to 23,370 as Senators mull over the GOP tax bill. Nasdaq added 7 points to 6,789.


On the upside


Marvell Technology (Nasdaq: MRVL) will acquire Cavium (Nasdaq: CAVM) for approximately $6 billion in cash and stock.


Dycom Industries (NYSE: DY) reported better than expected earnings for the first quarter.


Cosan (NYSE: CZZ) will repurchase up to $200 million of its common shares.

On the downside


Shares of Vipshop Holdings (NYSE: VIPS) fell ahead of its earnings release after market close.


Two Bioverativ (Nasdaq: BIVV) insiders sold company stock over the past quarter.


Investors locked in profits on NetEase (Nasdaq: NTES).


In the broad market, advancing issues were on par with decliners on the NYSE while advancers edged out decliners by 6 to 5 on Nasdaq. The broader S&P 500 edged up a point to 2,579. Bitcoin soared $190 to $8,210.


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