Shutdown Enters 8th Day, Markets Open Lower

The markets opened lower with the Dow slipping 18 points to 14,917 as the government shutdown entered its eighth day. Nasdaq fell 9 points to 3761.

On the upside

Agenus (Nasdaq: AGEN) reported positive results from a Phase 3 study of GlaxoSmithKline's (NYSE: GSK) malaria vaccine RTS,S that contains Agenus' QS-21 Stimulon adjuvant.

Zacks Investment Research upgraded ReneSola (NYSE: SOL) to a Strong Buy.

J.C. Penney (NYSE: JCP) reported that September's drop in same store sales was smaller than the drop in August.


On the downside


Tower Group International (Nasdaq: TWGP) must add $365 million to its reserves and warned that it will have to take a $215 million goodwill impairment charge for the second quarter.

Jamba Juice (Nasdaq: JMBA) lowered its full year outlook prompting a downgrade.

Investors locked in profits on Cell Therapeutics (Nasdaq: CTIC).

In the broad market, declining issues barely edged out advancers by a slim margin on the NYSE while advancers barely outpaced decliners on Nasdaq. The broader S&P 500 eased a fraction to 1675.

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