Mid-Day Market Update: Dollar Tree Surges Following Earnings Beat; OvaScience Shares Drop

Midway through trading Thursday, the Dow traded down 0.17 percent to 17,821.31 while the NASDAQ declined 0.01 percent to 4,894.80. The S&P also fell, dropping 0.04 percent to 2,089.68.

Utilities shares gained by 0.32 percent in trading on Thursday. Top gainers in the sector included

,

, and

. In trading on Thursday, basic materials shares slipped by 0.5 percent. Meanwhile, top losers in the sector included

, down 9 percent, and

, down 4 percent.

reported upbeat profit for the first quarter on Thursday. Dollar General said it earned $1.03 per share in the first quarter on revenue of $5.27 billion. Wall Street analysts were expecting the company to earn $0.95 per share on revenue of $5.27 billion.

shares shot up 158 percent to $9.15 after the company revealed positive top line results from a prospective Phase IIb, 12-week, randomized, double-blind, placebo-controlled parallel clinical study evaluating the efficacy, safety and tolerability of MIN-101 in patients with negative symptoms of schizophrenia. Shares of

got a boost, shooting up 28 percent to $14.64 as the company revealed that it has received positive guidance from the FDA on New Drug Application submission for Zilretta.

shares were also up, gaining 12 percent to $87.78 as the company reported better-than-expected Q1 earnings and raised its FY16 guidance.

shares dropped 31 percent to $4.24. Tidewater posted Q4 GAAP loss of $1.74 per share on revenue of $184.2 million. Shares of

were down 32 percent to $23.84 after the company issued an update on the IONIS-TTR program. The company is evaluating IONIS-TTRRx in an ongoing Phase 3 study currently, NEURO-TTR, in patients with transthyretin (TTR) familial amyloid polyneuropathy. According to Ionis, GSK, which has an option to license IONIS-TTRx, has decided not to initiate the stage three outcome study, CARDIO-TTR that was planned to assess IONIS-TTRx in patients with TTR armyloid cardiomyopthy.

was down, falling around 25 percent to $7.38. OvaScience priced 7.15 million shares at $7.00 per share.

In commodity news, oil traded down 0.20 percent to $49.46 while gold traded up 0.08 percent to $1,227.60. Silver traded up 0.95 percent Thursday to $16.42, while copper rose 0.14 percent to $2.10.

European shares were mixed today. The eurozone's STOXX 600 gained 0.07 percent, the Spanish Ibex Index fell 0.47 percent, while Italy's FTSE MIB Index gained 0.06 percent. Meanwhile the German DAX climbed 0.76 percent, and the French CAC 40 gained 0.67 percent, while U.K. shares fell 0.01 percent.

U.S. durable goods orders rose 3.40 percent for April, versus economists' expectations for a 0.50 percent growth. Initial jobless claims declined 10,000 to 268,000 in the recent week. However, economists were expecting claims to drop to 275,000 in the week. The pending home sales index rose 5.1 percent to 116.3 in April. Supplies of natural gas increased 71 billion cubic feet for the week ended May 20, the U.S. Energy Information Administration reported. However, analysts were projecting a gain of 68 billion cubic feet.