Mid-Morning Market Update: Healthcare Shares Trend Higher, Biogen Shares Spike

Following the market opening Tuesday, the Dow traded up 0.06% to 16848.48 while the NASDAQ rose 0.26% to 8182.78. The S&P also rose, gaining 0.21% to 3013.23.
 

Leading and Lagging Sectors

Health Care shares climbed 1.23% on Tuesday. Meanwhile, top gainers in the sector included Biogen, Inc. BIIB, up 38.49%, and GNC Holdings Inc GNC, up 17.79%.

In trading on Tuesday, materials shares fell 0.58%.
 

Top Headline
McDonald’s Corp MCD reported an earnings miss for the third quarter and its stock trades lower in the session.

McDonald's reported third-quarter GAAP earnings of $2.11 per share, which missed the consensus estimate of $2.21. The company reported quarterly sales of $5.43 billion, short of the consensus estimate of $5.49 billion.
 

Equities Trading UP
Biogen, Inc. BIIB shares shot up 38.49% to $309.53 on hopes of a potential Alzheimer’s treatment approval from the FDA.

Shares of Stamps.com, Inc. STMP surged 18.98% to $90.58 following the announcement of a deal with United Parcel Service, Inc. UPS
 

Cision Ltd. CISN was up, rising 17.99% to $9.97 after reports of 18,500 shares being bought by the institutional investor Bailard Inc.
 

Equities Trading DOWN
Top Ships, Inc. TOPS shares tumbled 18.20% to $3.46.

Shares of The Howard Hughes Corp. HHC were down 17.67% to $105.69 after closing at $128.40 on Monday.
Hasbro, Inc. HAS was down, falling 16.17% to $105.69.
 

Commodities

In commodity news, oil traded up 0.84% to $53.84, while gold traded up 0.06% to $1,488.90

Silver traded down 0.38% Tuesday to $17.53, while copper fell 0.28% to $2.63
 

Euro zone

European shares were mostly higher today. The Eurozone’s STOXX 600 rose 0.05%, the Spanish Ibex Index fell 0.49%, while Italy’s FTSE MIB Index climbed 0.05%. Meanwhile, the German DAX gained 0.04%, and the French CAC 40 rose 0.01% while UK shares climbed 0.84%.
 

Economics

Dallas Federal Reserve Bank President Robert Kaplan will deliver a speech at 10:30 p.m. ET.

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: NewsEurozoneCommoditiesGlobalMarketsConsumer DiscretionaryMid-Morning UpdateRestaurants
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!