UP AFTER EARNINGS: Walmart (WMT), up 7%… Alibaba (BABA), up 4%… J.C. Penney (JCP), up 14%… Canadian Solar (CSIQ), up 11%. ALSO HIGHER: Pivotal Software (PVTL), up 73% after confirming that it is in discussions with VMware (VMW) regarding a potential business combination through a transaction in which VMware would acquire all of the outstanding shares of Class A common stock of the company for cash at a per share price equal to $15.00. DOWN AFTER EARNINGS: Tapestry (TPR), down 8%… Canopy Growth (CGC), down 9%… Cisco (CSCO), down 5%. ALSO LOWER: VMware (VMW), down 3% after proceeding to negotiate definitive agreements with respect to a transaction to acquire all of the outstanding shares of Class A common stock of Pivotal… General Electric (GE), down 3.5% after Harry Markopolos, the accounting expert who raised red flags about Bernie Madoff’s Ponzi scheme, released a report on the accounting of General Electric. Markopolos, on his website “GEfraud.com,” alleges GE has masked the depths of its problems, resulting in inaccurate and fraudulent financial filings with regulators, calling GE “a bigger fraud than Enron.”
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