Market Overview

Mid-Day Market Update: Abercrombie & Fitch Climbs After Q3 Beat; Century Casinos Shares Drop

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Midway through trading Friday, the Dow traded down 0.32 percent to 23,383.25 while the NASDAQ declined 0.08 percent to 6,788.04. The S&P also fell, dropping 0.15 percent to 2,581.76.

Leading and Lagging Sectors

On Friday, the cyclical consumer goods & services sector proved to be a source of strength for the market. Leading the sector was strength from Abercrombie & Fitch Co. (NYSE: ANF) and Shoe Carnival, Inc. (NASDAQ: SCVL).

In trading on Friday, utilities shares were relative laggards, down on the day by about 0.34 percent. Meanwhile, top losers in the sector included Genie Energy Ltd (NYSE: GNE), down 11 percent, and American Midstream Partners LP (NYSE: AMID) down 2 percent.

Top Headline

Foot Locker, Inc. (NYSE: FL) posted stronger-than-expected results for its third quarter.

Foot Locker posted quarterly adjusted earnings of $0.87 per share on revenue of $1.87 billion. However, analysts were expecting earnings of $0.80 per share on revenue of $1.83 billion. Its same-store sales fell 3.7 percent during the quarter.

Equities Trading UP

Diana Containerships Inc (NASDAQ: DCIX) shares shot up 109 percent to $13.78. Diana Containerships reported a Q3 loss of $128.67 per share on sales of $6.73 million.

Shares of Shoe Carnival, Inc. (NASDAQ: SCVL) got a boost, shooting up 28 percent to $26.50 after the company reported better-than-expected results for its third quarter.

Abercrombie & Fitch Co. (NYSE: ANF) shares were also up, gaining 27 percent to $15.90 as the company posted upbeat Q3 results.

Equities Trading DOWN

Century Casinos, Inc. (NASDAQ: CNTY) shares dropped 15 percent to $7.77. Century Casinos priced its 4.25 million share offering at $7.50 per share.

Shares of Vascular Biogenics Ltd (NASDAQ: VBLT) were down 17 percent to $7.43. VBL Therapeutics reported pricing of 2.5 million share common stock offering for $18.75 million.

Birks Group Inc (NYSE: BGI) was down, falling around 23 percent to $1.90 after the company reported financial results for the twenty-six week period ended September 23, 2017.

Commodities

In commodity news, oil traded up 1.81 percent to $56.14 while gold traded up 0.57 percent to $1,285.50.

Silver traded up 0.05 percent Friday to $17.08, while copper rose 0.18 percent to $3.077.

Eurozone

European shares were lower today. The eurozone’s STOXX 600 declined 0.22 percent, the Spanish Ibex Index fell 0.67 percent, while Italy’s FTSE MIB Index slipped 0.43 percent. Meanwhile the German DAX declined 0.07 percent, and the French CAC 40 dropped 0.19 percent while U.K. shares fell 0.03 percent.

Economics

U.S. housing starts increased 13.7 percent to an annual rate of 1.29 million for October. However, economists were expecting a 1.19 million rate.

San Francisco Federal Reserve Bank President John Williams is set to speak in Berkeley, California at 12:45 p.m. ET.

The Baker Hughes North American rig count report for the latest week is schedule for release at 1:00 p.m. ET.

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

 

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