Market Overview

Mid-Afternoon Market Update: Mattel Jumps Following Report of Approach from Hasbro; Viewray Shares Drop


Toward the end of trading Monday, the Dow traded up 0.08 percent to 23,441.00 while the NASDAQ gained 0.05 percent to 6,754.07. The S&P also rose, gaining 0.07 percent to 2,584.08.

Leading and Lagging Sectors

Monday afternoon, the non-cyclical consumer goods & services sector proved to be a source of strength for the market.

In trading on Monday, energy shares were relative laggards, down on the day by about 0.66 percent. Meanwhile, top losers in the sector included Calumet Specialty Products Partners, L.P (NASDAQ: CLMT), down 7 percent, and SemGroup Corp (NASDAQ: SEMG) down 5 percent.

Top Headline

Tyson Foods, Inc. (NYSE: TSN) reported better-than-expected results for its fourth quarter.

Tyson Foods posted quarterly adjusted earnings of $1.43 per share on revenue of $10.15 billion. However, analysts were expecting earnings of $1.38 per share on revenue of $9.89 billion.

Equities Trading UP

TheStreet, Inc. (NASDAQ: TST) shares shot up 34 percent to $1.26. TheStreet reported Q3 earnings of $0.01 per share and announced authorization of new share buyback program of 5 million shares. TheStreet also disclosed a new employment agreement with Jim Cramer through 2021.

Shares of Nova Lifestyle Inc (NASDAQ: NVFY) got a boost, shooting up 29 percent to $2.29. Nova LifeStyle reported Q3 earnings of $0.11 per share on revenue of $33.22 million.

Mattel, Inc. (NASDAQ: MAT) shares were also up, gaining 21 percent to $17.70. Mattel is in talks to sell itself to larger rival Hasbro, Inc. (NASDAQ: HAS), The Wall Street Journal reported on Friday.

Equities Trading DOWN

American Shared Hospital Services (NYSE: AMS) shares dropped 10 percent to $2.75. American Shared Hospital Services reported Q3 earnings of $0.02 per share on revenue of $4.61 million.

Shares of Viewray Inc (NASDAQ: VRAY) were down 9 percent to $7.78. ViewRay reported a Q3 loss of $0.19 per share on revenue of $12.2 million. The company also lowered its FY17 sales guidance.

Amedica Corporation (NASDAQ: AMDA) was down, falling around 10 percent to $3.29. Amedica reported a 1-for-12 reverse stock split on Friday.


In commodity news, oil traded up 0.19 percent to $56.85 while gold traded up 0.38 percent to $1,279.00.

Silver traded up 0.97 percent Monday to $17.035, while copper rose 1.33 percent to $3.117.


European shares closed lower today. The eurozone’s STOXX 600 declined 0.66 percent, the Spanish Ibex Index fell 0.42 percent, while Italy’s FTSE MIB Index dropped 0.55 percent. Meanwhile the German DAX declined 0.40 percent, and the French CAC 40 dropped 0.73 percent while U.K. shares fell 0.24 percent.


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