GDP expands less than expected, markets fall

The nation’s economy expanded less than expected in the third quarter to weigh the markets down to a lower close with the Dow dropping 92 points to 17,663. Nasdaq fell 20 points to 5,053.

On the upside

Bargain hunters snapped up shares of Exact Sciences (Nasdaq: EXAS).

AcelRx Pharmaceuticals (Nasdaq: ACRX) reported sharply higher third quarter earnings that beat expectations.

Imperva (NYSE: IMPV) narrowed third quarter losses more than expected and forecast current quarter results ahead of estimates.

On the downside

Valeant Pharmaceuticals (NYSE: VRX) severed ties with specialty pharmaceutical Philidor Rx Services but the stock price continued to plummet.

Fairway Group Holdings (Nasdaq: FWM) reported a greater than expected loss for the second quarter as revenue fell.

Calix (NYSE: CALX) reversed year ago losses to post a stronger than expected profit for the third quarter but the stock price fell.

In the broad market, advancing issues outpaced decliners by a margin of nearly 5 to 4 on the NYSE while decliners edged out advancers by more than 7 to 5 on Nasdaq. The broader S&P 500 fell 10 points to 2,079. Bitcoin climbed $7 to $317.

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