Markets Slip As Compensation Costs Rise

The markets traded lower during the midday with the Dow easing 6 points to 15,969 as compensation costs for the nation's employees rose in the third quarter. Nasdaq fell 17 points to 3931.

On the upside

A Seeking Alpha contributor said that the Food and Drug Administration erred when it rescinded Amarin's (Nasdaq: IPCI) ANCHOR special protocol assessment agreement.

Spherix (Nasdaq: SPEX) settled a patent infringement dispute and entered a license agreement with a technology firm.

Aegis Capital initiated coverage of Evoke Pharma (Nasdaq: EVOK) with a Buy rating.


On the downside


LightInTheBox (NYSE: LITB) widened third quarter losses more than expected as expenses soared.

Motley Fool wrote that Voxeljet (NYSE: VJET) was overvalued.

A senator from Alabama questioned government grants that were awarded to SolarCity (Nasdaq: SCTY).

In the broad market, declining issues outpaced advancers by a margin of more than 2 to 1 on the NYSE and by more than 3 to 2 on Nasdaq. The broader S&P 500 lost 4 points to 1787.

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