Losses extended over global economic concerns

The markets extended its losses during the midday with the Dow dropping 87 points to 16,858 over concerns of a global economic slowdown. Nasdaq slipped 3 points to 4,334.

On the upside

Norhtwest Biotherapeutics (Nasdaq: NWBO) reported positive results from an ongoing Phase I/II trial of its cancer treatment DCVax-Direct.

Montage Technology (Nasdaq: MONT) agreed to be acquired by Shanghai Pudong Science and Technology Investment for a premium of approximately $693 million.

Bank of America/Merrill Lynch upgraded Micron Technology (Nasdaq: MU) from an Underperform rating to a Buy rating.

On the downside

Auxilium Pharmaceuticals (Nasdaq: AUXL) partnered with Prasco to launch a generic version of its testosterone gel Testim.

United Natural Foods (Nasdaq: UNFI) reported higher third quarter earnings and revenue but the company forecast full year earnings below estimates.

A profit warning by Lufthansa weighed down share of Delta Airlines (NYSE: DAL).

In the broad market, declining issues outpaced advancers by a margin of nearly 2 to 1 on the NYSE and by nearly 5 to 3 on Nasdaq. The broader S&P 500 lost 5 points to 1944. Bitcoin slipped $4.87 or 0.75% to $646.24.

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