Market Overview

Mid-Day Market Update: Sorl Auto Parts Drops After Q2 Results; CEL-SCI Shares Surge

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Midway through trading Monday, the Dow traded up 0.68 percent to 22,006.66 while the NASDAQ climbed 1.15 percent to 6,328.27. The S&P also rose, gaining 1.01 percent to 2,466.03.

Leading and Lagging Sectors

On Monday, the financial shares climbed by 1.26 percent. Meanwhile, top gainers in the sector included Banco Macro SA (ADR) (NYSE: BMA), up 9 percent, and Irsa Inversiones y Rprsntcins SA (ADR) (NYSE: IRS), up 9 percent.

In trading on Monday, energy shares rose by just 0.4 percent. Meanwhile, top losers in the sector included PrimeEnergy Corporation (NASDAQ: PNRG), down 6 percent, and Nabors Industries Ltd. (NYSE: NBR), down 5 percent.

Top Headline

VF Corp (NYSE: VFC) announced plans to acquire Williamson-Dickie for $820 million in cash and raised its FY17 guidance.

The deal is expected to complete early in the fourth quarter.

Equities Trading UP

Foresight Autonomous Holdings Ltd. (NASDAQ: FRSX) shares shot up 48 percent to $6.89. Chardan Capital initiated coverage on Foresight Autonomous with a Buy rating.

Shares of CEL-SCI Corporation (NYSE: CVM) got a boost, shooting up 26 percent to $2.90 as the company disclosed that Phase 3 head & neck cancer trial's clinical hold has been removed by the FDA.

Neff Corp (NYSE: NEFF) shares were also up, gaining 18 percent to $25.70 as the company reported that it has received a $25 per share acquisition offer from a 'strategic bidder.'

Equities Trading DOWN

Sorl Auto Parts, Inc. (NASDAQ: SORL) shares dropped 19 percent to $5.65 after the company reported weak Q2 results.

Shares of Zynerba Pharmaceuticals Inc (NASDAQ: ZYNE) were down 15 percent to $5.96 after the company disclosed that its Phase 2 STOP trial did not meet its primary endpoint. However, the company trial did meet some secondary endpoints.

DarioHealth Corp (NASDAQ: DRIO) was down, falling around 11 percent to $2.06. DarioHealth posted Q2 loss of $0.43 per share on sales of $1.21 million.

Commodities

In commodity news, oil traded up 0.59 percent to $49.11 while gold traded down 0.36 percent to $1,289.30.

Silver traded up 0.09 percent Monday to $17.085, while copper fell 0.17 percent to $2.907.

Eurozone

European shares were higher today. The eurozone’s STOXX 600 gained 1.21 percent, the Spanish Ibex Index rose 1.93 percent, while Italy’s FTSE MIB Index surged 1.96 percent. Meanwhile the German DAX climbed 1.42 percent, and the French CAC 40 gained 1.41 percent while U.K. shares rose 0.80 percent.

Economics

On the economics calendar Monday, there is no important data due out.

Posted-In: Mid-Day Market UpdateNews Eurozone Commodities Global Intraday Update Markets

 

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