Mid-Day Market Update: EDAP Rises Following FDA Clearance Of Focal One Device; MicroVision Shares Plunge

Midway through trading Friday, the Dow traded down 0.03 percent to 25,233.89 while the NASDAQ declined 0.20 percent to 7,619.50. The S&P also fell, dropping 0.09 percent to 2,768.00.

Leading and Lagging Sectors

On Friday, the consumer staples shares surged 0.82 percent. Meanwhile, top gainers in the sector included Companhia Brasileira de Distribuição CBD up 5 percent, and Revlon, Inc. REV up 8 percent.

In trading on Friday, telecommunication services shares fell 0.49 percent.


Top Headline

Zumiez Inc. ZUMZ reported better-than-expected results for its first quarter. The company also issued strong second-quarter guidance.

Earnings came in at $(0.10), beating estimates by 4 cents. Sales came in at $206 million, beating estimates by $5 million. First-quarter comps were up 8.3 percent, with comps up 7.5 percent in May.


Equities Trading UP

EDAP TMS S.A. EDAP shares shot up 76 percent to $3.90. The therapeutic ultrasound company said the FDA granted a 510(k) clearance for its Focal One device for the ablation of prostate tissue.

Shares of TapImmune, Inc. TPIV got a boost, shooting up 29 percent to $7.646. TapImmune reported the pricing of 17.5 million share common stock offering at $4 per share.

Stitch Fix, Inc. SFIX shares were also up, gaining 13 percent to $22.23 after the company reported stronger-than-expected results for its third quarter. The company also announced the launch of Stitch Fix Kids.


Equities Trading DOWN

MicroVision, Inc. MVIS shares dropped 9 percent to $1.295 after reporting an $18 million common stock offering.

Shares of Iteris, Inc. ITI were down 6 percent to $4.62 after the company posted downbeat Q4 results.

Profire Energy, Inc. PFIE was down, falling around 10 percent to $4.12 after announcing a 7.5 million share common stock offering.


Commodities


In commodity news, oil traded down 0.41 percent to $65.68 while gold traded down 0.06 percent to $1,302.20.

Silver traded down 0.30 percent Friday to $16.765, while copper rose 0.63 to $3.2955.



Eurozone

European shares were lower today. The eurozone’s STOXX 600 fell 0.23 percent, the Spanish Ibex Index fell 0.83 percent, while Italy’s FTSE MIB Index declined 1.91 percent. Meanwhile the German DAX slipped 0.41 percent, and the French CAC 40 fell 0.01 percent while U.K. shares fell 0.30 percent.

Economics

US wholesale inventories rose 0.1 percent for April.

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

Posted In: NewsEurozoneCommoditiesGlobalIntraday UpdateMarketsMid-Day Market Update
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