Chronicle Journal: Finance

Dow tops 20,000 for first time

The markets opened sharply higher with the Dow soaring 138 points to 20,051 topping the 20,000 mark for the very first time on investor enthusiasm. Nasdaq climbed 38 points to 5,639.

On the upside

Arctic Cat (Nasdaq: ACAT) will be acquired by Textron (NYSE: TXT) in an all cash transaction valued at approximately $247 million including the assumption of debt.

Seagate Technology (Nasdaq: STX) reported sharply higher second quarter earnings that beat analyst expectations.

Clean Diesel Technologies (Nasdaq: CDTI) partnered with DENSO Products and Services Americas to supply CDTi's enabling technologies to the North American heavy-duty market.

On the downside

Meridian Biosciences (Nasdaq: VIVO) disappointed with lower first quarter earnings and revenue that fell short of expectations and cut its full year forecast.

Fourth quarter earnings for New York Community Bancorp (NYSE: NYCB) missed expectations.

AK Steel (NYSE: AKS) reported a loss for the fourth quarter prompting a downgrade.

In the broad market, advancing issues outpaced decliners by a margin of nearly 7 to 3 on the NYSE and by nearly 3 to 1 on Nasdaq. The broader S&P 500 index climbed 13 points to 2,293. Bitcoin slipped $2 to $887.

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