Mid-Day Market Update: U.S. Stocks Turn Lower; Kindred Healthcare Shares Rise After Q3 Results

Midway through trading Tuesday, the Dow traded down 0.20 percent to 23,500.77 while the NASDAQ declined 0.45 percent to 6,756.05. The S&P also fell, dropping 0.15 percent to 2,587.16.

Leading and Lagging Sectors

On Tuesday, the non-cyclical consumer goods & services shares climbed by 0.70 percent. Meanwhile, top gainers in the sector included Weight Watchers International, Inc. WTW, up 18 percent, and Dean Foods Co DF, up 7 percent.

In trading on Tuesday, basic materials shares fell 0.63 percent. Meanwhile, top losers in the sector included Myers Industries, Inc. MYE, down 8 percent, and CF Industries Holdings, Inc. CF down 6 percent.

Top Headline

Dean Foods Co DF reported weaker-than-expected earnings for its third quarter and lowered its FY 2017 earnings guidance.

Dean Foods posted quarterly EPS of $0.20 per share on revenue of $1.94 billion. However, analysts were expecting earnings of $0.22 per share on revenue of $1.98 billion.

Dean Foods now expects FY 2017 adjusted earnings of $0.80 to $0.90 per share, versus earlier forecast of $0.80 to $0.95 per share.

Equities Trading UP

Kindred Healthcare, Inc. KND shares shot up 29 percent to $7.76. Kindred Healthcare reported Q3 adjusted loss of $0.33 per share on revenue of $1.477 billion.

Shares of Cyren Ltd CYRN got a boost, shooting up 41 percent to $2.33 after the company reported a strategic investment from Warburg Pincus Funds.

Myomo Inc MYO shares were also up, gaining 66 percent to $7.02 after the company reported upbeat third-quarter results.

Equities Trading DOWN

Teligent Inc TLGT shares dropped 40 percent to $3.14. Teligent reported a Q3 loss of $0.12 per share on sales of $13.65 million.

Shares of Five Prime Therapeutics Inc FPRX were down 43 percent to $25.15. Five Prime Therapeutics reported a Q3 loss of $43.3 million.

Selecta Biosciences Inc SELB was down, falling around 46 percent to $12.15. Selecta Biosciences reported a Q3 loss of $0.66 per share on sales of $27,000.

Commodities

In commodity news, oil traded down 0.52 percent to $57.05 while gold traded down 0.38 percent to $1,276.70.

Silver traded down 0.96 percent Tuesday to $17.07, while copper fell 2.07 percent to $3.092.

Eurozone

European shares were mostly lower today. The eurozone’s STOXX 600 declined 0.24 percent, the Spanish Ibex Index fell 0.54 percent, while Italy’s FTSE MIB Index gained 0.2383 percent. Meanwhile the German DAX slipped 0.19 percent, and the French CAC 40 dropped 0.23 percent while U.K. shares fell 0.44 percent.

Economics

The Johnson Redbook Retail Sales Index dropped 1 percent during the first week of November versus October.

U.S. job openings increased to 6.09 million in September, versus prior reading of 6.08 million, according to the Labor Department's JOLTS report.

The Treasury will auction 3-year notes at 1:00 p.m. ET.

Federal Reserve Chair Janet Yellen is set to speak in Washington at 3:00 p.m. ET.

Data on consumer credit for September week will be released at 3:00 p.m. ET.