Market Overview

Mid-Day Market Update: Mesa Laboratories Drops After Q2 Results; TherapeuticsMD Shares Jump

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Midway through trading Monday, the Dow traded down 0.03 percent to 23,533.30 while the NASDAQ gained 0.22 percent to 6,778.98. The S&P also rose, gaining 0.06 percent to 2,589.20.

Leading and Lagging Sectors

On Monday, the energy shares climbed by 1.10 percent. Meanwhile, top gainers in the sector included Baytex Energy Corp (USA) (NYSE: BTE), up 7 percent, and Chesapeake Energy Corporation (NYSE: CHK), up 9 percent.

In trading on Monday, telecommunications services shares fell 0.97 percent. Meanwhile, top losers in the sector included Verizon Communications Inc. (NYSE: VZ), down 5 percent, and Sprint Corporation (NYSE: S) down 13 percent.

Top Headline

CVS Health Corp (NYSE: CVS) reported better-than-expected earnings for its third quarter on Monday.

CVS posted quarterly EPS of $1.50 per share on revenue of $46.2 billion. However, analysts were expecting earnings of $1.49 per share on revenue of $46.17 billion.

CVS now expects FY17 adjusted earnings of $5.87 to $5.91 per share, versus prior forecast of $5.83 to $5.93 per share.

Equities Trading UP

Diana Containerships Inc (NASDAQ: DCIX) shares shot up 122 percent to $24.83 on no news. Diana Containerships shares rallied nearly 700 percent on Friday.

Shares of TherapeuticsMD Inc (NASDAQ: TXMD) got a boost, shooting up 45 percent to $6.34 after the company reported a plan to resubmit the New Drug Application for TX-004HR. TherapeuticsMD reported a Q3 loss of $0.07 per share on revenue of $4.41 million.

TOP SHIPS Inc (NASDAQ: TOPS) shares were also up, gaining 110 percent to $1.51 on no news.

Equities Trading DOWN

Medical Transcription Billing Corp (NASDAQ: MTBC) shares dropped 22 percent to $3.12. MTBC reported a Q3 loss of $0.14 per share on sales of $7.51 million.

Shares of Mesa Laboratories, Inc. (NASDAQ: MLAB) were down 11 percent to $140.46on weaker-than-expected results for its second quarter.

Sprint Corp (NYSE: S) was down, falling around 13 percent to $5.82. T-Mobile (NASDAQ: TMUS) and Sprint jointly announced Saturday that they have ceased talks to merge as the companies were unable to find mutually agreeable terms.

Commodities

In commodity news, oil traded up 0.65 percent to $56.00 while gold traded up 0.32 percent to $1,273.20.

Silver traded up 0.96 percent Monday to $16.995, while copper rose 1.07 percent to $3.151.

Eurozone

European shares were mostly higher today. The eurozone's STOXX 600 rose 0.18 percent, the Spanish Ibex Index fell 0.39 percent, while Italy's FTSE MIB Index gained 0.07 percent. Meanwhile the German DAX gained 0.01 percent, and the French CAC 40 dropped 0.18 percent while U.K. shares rose 0.06 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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