Stocks end lower as trade concerns remain The major averages closed out lower to cap off a week that saw large swings in both directions. A massive selloff on Monday, prompted by China allowing its yuan to fall to an 11-year low compared to the U.S. dollar, was followed by some up days that actually saw the S&P get back to unchanged for the week on Thursday. However, the major averages all finished with weekly losses following today's risk-off session. ECONOMIC EVENTS: In the U.S., the Producer Prices Index rose 0.2% in July, with the core rate sliding 0.1% for its first decline in two years. In energy news, Baker Hughes reported that the U.S. rig count is down 8 from last week to 934 rigs. TOP NEWS: Shares of Uber (UBER) fell about 7% after the ride-hailing company's second quarter revenue came in below analysts' estimates and it reported larger than expected losses, partially due to costs related to its initial public offering. Despite the weak headline figures, however, several analysts defended the stock and raised their price targets following the quarterly update. Shares of Activision Blizzard (ATVI) fell 2.5% following the video game maker's quarterly report, though analysts were more positive. Piper Jaffray analyst Michael Olson raised his price target for Activision Blizzard to $55 from $52, saying the company posted "strong" Q2 results and while its outlook may disappoint some investors, it is typical for Activision to guide conservatively this early in the year. Morgan Stanley analyst Brian Nowak also raised his price target for Activision Blizzard to $57 from $55 after the company reported a "clean beat" in Q2. In M&A news, Broadcom (AVGO) announced an agreement to acquire the enterprise security business of Symantec (SYMC) for $10.7B in cash. In addition to the deal news, Symantec also reported earnings, gave guidance, announced a restructuring plan that includes the intention to reduce its headcount by 7% and approved a $1.1B increase to its share buyback plans. Following the announcements, Symantec shares closed fractionally higher while Broadcom shares rose 1.75%. MAJOR MOVERS: Among the noteworthy gainers was Lexicon (LXRX), which advanced 20% after announcing 52-week cardiorenal results from a pooled analysis from the inTandem1 and inTandem2 studies of Zynquista in adults with type 1 diabetes. Also higher were Sientra (SIEN) and Yelp (YELP), which gained a respective 28% and 5% after reporting quarterly results. Among the notable losers was Nektar (NKTR), which dropped 29% after management disclosed that the scope of collaboration with partner Bristol-Myers (BMY) is now narrowed and that there were some issues pertaining to the manufacturing of bempegaldesleukin that potentially led to the drastic difference in response rate between the November 2017 and June 2018 data announcement of the Phase II PIVOT-02 results. Also lower was Mattel (MAT), which fell 16% after terminating plans for an offering of senior notes after the company was made aware of an anonymous whistleblower letter. Additionally, Dropbox (DBX) declined 13% after reporting quarterly results. INDEXES: The Dow fell 90.75, or 0.34%, to 26,287.44 , the Nasdaq lost 80.02, or 1.00%, to 7,959.14 , and the S&P 500 declined 19.44, or 0.66%, to 2,918.65 . Symbols: $UBER $ATVI $AVGO $SYMC $LXRX $SIEN $YELP $NKTR $BMY $MAT $VRAY $DBXSource: (thefly.com)Disclosure: I may trade in the ticker symbols mentioned, both long or short. My articles represent my personal opinion and analysis and should not be taken as investment advice. Readers should do their own research before making decisions to buy or sell securities. Trading and investing include risks, including loss of principal. If you liked this article, please click the LIKE (thumbs up) button. Feel free to leave any comments, question, or opinions. (Sign-up if you haven't already done so). Follow us/bookmark us and check back occasionally for additional articles or comments on our page... Wild Tiger Trading - start/main page.