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Markets plunge as earnings disappoint

Durable goods orders climbed by a stronger than expected 2.2% in September but the markets closed sharply lower with the Dow plunging 112 points to 23,329 over disappointing earnings. Nasdaq dropped 34 points to 6,563.


On the upside


Shares of Ablynx (Nasdaq: ABLX) surged in its market debut.


MacroGenics (Nasdaq: MGNX) entered an exclusive global collaboration and license agreement for Incyte (Nasdaq: INCY) to develop and commercialize MGA012.


Dynegy (NYSE: DYN) is reportedly in advanced talks to be acquired by Vistra Energy.

On the downside


Trivago (Nasdaq: TRVG) widened losses for the third quarter and warned of flat or lower revenue in 2018.


ZAGG (Nasdaq: ZAGG) will report third quarter earnings on Wednesday, November 1, 2017 after market close.


Alaska Air Group (NYSE: ALK) disappointed with third quarter earnings and revenue that fell short of expectations.


In the broad market, declining issues outpaced advancers by a margin of nearly 3 to 1 on the NYSE and by more than 2 to 1 on Nasdaq. The broader S&P 500 fell 11 points to 2,557. Bitcoin surged $189 to $5,665.


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