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September 01, 2020 1:26pm
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Mixed open as crude oil retreats

The markets opened mixed with the Dow gaining 30 points to 21,425 while Nasdaq fell 28 points to 6,236 as crude oil prices slipped.


On the upside


Berkshire Hathaway acquired a 9.8% stake in Store Capital (NYSE: STOR) for approximately $377 million.


Google's Waymo selected Avis Budget Group (Nasdaq: CAR) to service and support autonomous vehicles in Phoenix.


Bargain hunters lifted shares of Rite Aid (NYSE: RAD).


On the downside


Emails surfaced that Arconic (NYSE: ARNC) supplied combustible panels that were used at the Grenfell Tower in London that caught on fire on June 14 and killed at least 79 people.


Morgan Stanley downgraded GrubHub (NYSE: GRUB) to an Equal Weight rating from an Overweight rating a cut its price target from $47.00 to $43.00.

Seattle Genetics (Nasdaq: SGEN) reported upbeat results from a Phase 3 ECHELON-1 clinical trial of adcetris to treat classical Hodgkin lymphoma but the stock price fell.


In the broad market, advancing issues were on par with decliners on the NYSE while advancers barely edged out decliners by a slim margin on Nasdaq. The broader S&P 500 added a point to 2,439. Bitcoin tumbled $62 to $2440.


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