Mid-Day Market Update: Core-Mark Falls Following Weak Outlook; Datawatch Shares Surge

Midway through trading Friday, the Dow traded up 0.40 percent to 25,174.84 while the NASDAQ climbed 0.65 percent to 7,123.90. The S&P also rose, gaining 0.38 percent to 2,734.33.

Leading and Lagging Sectors

On Friday, the technology sector proved to be a source of strength for the market. Leading the sector was strength from Sify Technologies Limited (ADR) SIFY and Datawatch Corporation DWCH.

In trading on Friday, energy shares fell 0.22 percent. Meanwhile, top losers in the sector included Ballard Power Systems Inc. (USA) BLDP, down 7 percent, and Pioneer Energy Services Corp PES down 7 percent.

Top Headline

Cal-Maine Foods Inc CALM reported weaker-than-expected earnings for its second quarter.

Equities Trading UP

Datawatch Corporation DWCH shares shot up 25 percent to $ 11.50 after hiring an advisor to handle acquisition approaches, according to a report from Reuters.

Shares of TiGenix NV TIG got a boost, shooting up 72 percent to $ 0.70 after Takeda Pharmaceutical Company Limited announced its intention to acquire the company.

Skyline Corporation SKY shares were also up, gaining 40 percent to $17.97. Skyline and Champion Enterprises Holdings announced an agreement to combine their operations.

Equities Trading DOWN

OHR Pharmaceutical, Inc. OHRP shares dropped 81 percent to $0.385 after the company said topline data from its Mako study failed to meet its primary efficacy endpoint.

Shares of Core-Mark Holding Company, Inc. CORE were down 22 percent to $24.54 after the company lowered its FY17 earnings outlook.

Kala Pharmaceuticals Inc KALA was down, falling around 26 percent to $12.80 following STRIDE 1, 2 trial results which met primary endpoint. However, STRIDE 2 did not achieve statistical significance.

Commodities

In commodity news, oil traded down 1 percent to $61.39 while gold traded down 0.04 percent to $1,322.10.

Silver traded up 0.15 percent Friday to $17.295, while copper fell 0.92 percent to $3.233.

Eurozone

European shares were higher today. The eurozone’s STOXX 600 climbed 0.93 percent, the Spanish Ibex Index rose 0.94 percent, while Italy’s FTSE MIB Index rose 1.11 percent. Meanwhile the German DAX gained 1.15 percent, and the French CAC 40 rose 1.05 percent while U.K. shares rose 0.37 percent.

Economics

The U.S. economy added 148,000 jobs in December. However, economists projected a gain of 198,000 nonfarm jobs. The unemployment rate remained unchanged at 4.1 percent.

The U.S. trade deficit increased 3.2 percent to $50.5 billion in November. Economists projected a gap of $50 billion. Imports gained 2.5 percent to $250.7 billion, while exports climbed 2.3 percent to $200.2 billion.

U.S. factory orders rose 1.3 percent for November, versus economists’ expectations for a 1.1 percent growth

The ISM non-manufacturing index dropped to 55.90 for December, versus prior reading of 57.40. Economists expected a reading of 57.80.

The Baker Hughes North American rig count report for the latest week is schedule for release at 1:00 p.m. ET.