Negligible gains for the Dow Jones Industrial Average were enough to put it at records for another session. The index has ended at records for seven sessions in a row, a streak not seen since mid-February. The rest of the markets finished lower. 3D Systems (DDD) was one of the worst performers in tech following a disappointing second quarter. A net loss of 8 cents a share was double a year earlier. Adjusted earnings fell short of consensus. Avon Products (AVP) sold off after an unexpected loss in its recent quarter and a surprise announcement that its CEO Sheri McCoy was leaving the company. McCoy assumed the position in 2012. Teva Pharmaceuticals (TEVA) lost more than one-fifth of its value after slashing its full-year outlook and reducing its dividend by 75%. Softer guidance was tied to weaker U.S. markets and the ongoing political turmoil in Venezuela.
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Despite the president's promise of no stimulus until after Nov. 3, there are no signs yet that this is the sort of correlated selling that leads to a deep correction.
Breaking down an approach to the long side of this biotech stock.
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