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September 01, 2020 1:41pm
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Lower close as crude oil retreats

Falling crude oil prices weighed the markets down to a modestly lower close with the Dow slipping 10 points to 25,792. Nasdaq fell 37 points to 7223.


On the upside


Barclays upgraded Smart & Final (NYSE: SFS) from an Equal Weight rating to an Overweight rating and lifted its price target from $8.00 to $12.00.


Credit Suisse upgraded Goldcorp (NYSE: GG) from a Neutral rating to an Outperform rating and raised its price target from $15.50 to $19.00.


Bernstein upgraded Vipshop Holdings (NYSE: VIPS) from a Market Perform rating to an Outperform rating and increased its price target from $9.20 to $23.50.


On the downside


Shares of Hertz (NYSE: HTZ) tumbled after rival Avis Budget Group (Nasdaq: CAR) adopted a poison pill.


Analysts expect Aptevo Therapeutics (Nasdaq: APVO) to fall to a loss for the current quarter.


AveXis (Nasdaq: AVXS) will sell up to $400 million of its common stock through a public offering.


In the broad market, advancing issues outpaced decliners by a margin of more than 2 to 1 on the NYSE and by nearly 7 to 3 on Nasdaq. The broader S&P 500 lost 9 points to 2,776. Bitcoin crashed $3,274 to $10,535


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