Stock Market Closes Mixed to Finish Strong 2nd Quarter
The stock market finished the quarter on a mixed note with the Dow losing 25 points to close at 16,826 while Nasdaq rose 10 points to 4,408.
On the upside
Shares of Mannkind (Nasdaq: MKND) swung back into positive territory after Friday's selloff when its Affrezza inhaled insulin treatment was approved by the FDA with strong warnings due to pulmonary risk.
Zillow (Nasdaq: Z) announced a partnership with MLS-Listings whose subscribers will get their data displayed across Zillow, Yahoo (Nasdaq:YHOO) and AOL (NYSE: AOL) real estate online sites.
Investors continued to snap up shares of GoPro (Nasdaq: GPRO). The stock made an impressive debut last Thursday.
On the downside
Shares of Ruthigen (Nasdaq:RTGN) tumbled after the biopharmaceutical company reported a disappointing quarterly loss.
Shares of Tower Group (TWGP) fell to a new low on doubts that a buyout by Amtrust Financial Services will be completed.
Rayonier Inc. (NYSE:RYN) completed its spin-off of Rayonier Advanced Materials Inc. (NYSE:RYAM) and was promptly downgraded by analysts at RBC Capital.
In the broad market, advancing issues outpaced decliners by a margin of more than 3 to 2 the NYSE and by 5 to 4 on Nasdaq. The broader S&P 500 slipped a fraction to 1960. Bitcoin rose $5.96 or 0.87% to $643.60.