Market Overview

Mid-Morning Market Update: Markets Open Higher; Cal-Maine Profit Misses Estimates


Following the market opening Friday, the Dow traded up 0.17 percent to 25,118.32 while the NASDAQ climbed 0.45 percent to 7,109.43. The S&P also rose, gaining 0.22 percent to 2,729.87.

Leading and Lagging Sectors

Friday morning, the technology sector proved to be a source of strength for the market. Leading the sector was strength from ChinaCache International Holdings Ltd (NASDAQ: CCIH) and Datawatch Corporation (NASDAQ: DWCH).

In trading on Friday, energy shares fell 0.29 percent. Meanwhile, top losers in the sector included Ballard Power Systems Inc. (USA) (NASDAQ: BLDP), down 6 percent, and Hornbeck Offshore Services, Inc. (NYSE: HOS) down 5 percent.

Top Headline

Cal-Maine Foods Inc (NASDAQ: CALM) reported weaker-than-expected earnings for its second quarter.

Equities Trading UP

Datawatch Corporation (NASDAQ: DWCH) shares shot up 25 percent to $11.50 fter hiring an advisor to handle acquisition approaches, according to a report from Reuters.

Shares of TiGenix NV (NASDAQ: TIG) got a boost, shooting up 71 percent to $40.79 after Takeda Pharmaceutical Company Limited announced its intention to acquire the company.

Franklin Covey Co. (NYSE: FC) shares were also up, gaining 14 percent to $24.90 after the company posted a narrower-than-expected quarterly loss.

Equities Trading DOWN

OHR Pharmaceutical, Inc. (NASDAQ: OHRP) shares dropped 80 percent to $0.40 after the company said topline data from its Mako study failed to meet its primary efficacy endpoint.

Shares of Core-Mark Holding Company, Inc. (NASDAQ: CORE) were down 17 percent to $26.01 after the company lowered its FY17 earnings outlook.

Francesca's Holdings Corp (NASDAQ: FRAN) was down, falling around 19 percent to $6.04 after the company lowered fourth quarter and FY17 EPS outlook. The company sees fourth quarter comps down 15-17 percent.


In commodity news, oil traded down 0.95 percent to $61.42 while gold traded down 0.20 percent to $1,318.90.

Silver traded down 0.40 percent Friday to $17.20, while copper fell 0.90 percent to $3.2335.


European shares were higher today. The eurozone’s STOXX 600 climbed 0.74 percent, the Spanish Ibex Index rose 0.8 percent, while Italy’s FTSE MIB Index rose 0.85 percent. Meanwhile the German DAX gained 1.17 percent, and the French CAC 40 rose 0.88 percent while U.K. shares rose 0.13 percent.


The U.S. economy added 148,000 jobs in December. However, economists projected a gain of 198,000 nonfarm jobs. The unemployment rate remained unchanged at 4.1 percent.

The U.S. trade deficit increased 3.2 percent to $50.5 billion in November. Economists projected a gap of $50 billion. Imports gained 2.5 percent to $250.7 billion, while exports climbed 2.3 percent to $200.2 billion.

U.S. factory orders rose 1.3 percent for November, versus economists’ expectations for a 1.1 percent growth

The ISM non-manufacturing index dropped to 55.90 for December, versus prior reading of 57.40. Economists expected a reading of 57.80.

Cleveland Federal Reserve Bank President Loretta Mester will speak in Philadelphia at 12:30 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.


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