Market Overview

Mid-Afternoon Market Update: U.S. Stocks Turn Negative; Energizer Shares Spike Higher


Toward the end of trading Tuesday, the Dow traded down 0.11 percent to 25,774.28 while the NASDAQ declined 0.48 percent to 7,226.49. The S&P also fell, dropping 0.32 percent to 2,777.28.

Leading and Lagging Sectors

Tuesday afternoon, the non-cyclical consumer goods & services sector proved to be a source of strength for the market. Leading the sector was strength from Avid Technology, Inc. (NASDAQ: AVID) and LG Display Co Ltd. (ADR) (NYSE: LPL).

In trading on Tuesday, basic materials shares fell 1.18 percent. Meanwhile, top losers in the sector included Sociedad Quimica y Minera de Chile (ADR) (NYSE: SQM), down 7 percent, and CF Industries Holdings, Inc. (NYSE: CF) down 6 percent.

Top Headline

Citigroup Inc (NYSE: C) reported better-than-expected earnings for its fourth quarter.

Citigroup said it earned $1.28 per share in the quarter on revenue of $17.26 billion which exceeded Wall Street's expectations for $1.19 per share and $17.22 billion.

Equities Trading UP

Blackhawk Network Holdings Inc (NASDAQ: HAWK) shares shot up 23 percent to $45.00 after the company agreed to be acquired by Silver Lake for $45.25 per share in cash.

Shares of Energizer Holdings Inc (NYSE: ENR) got a boost, shooting up 14 percent to $58.80. Spectrum Brands agreed to sell global battery and lighting business to Energizer Holdings for $2 billion in cash.

Spi Energy Co Ltd (ADR) (NASDAQ: SPI) shares were also up, gaining 57 percent to $1.00 after announcing establishment of Blockchain-based infrastructure application division

Equities Trading DOWN

Eiger Biopharmaceuticals Inc (NASDAQ: EIGR) shares dropped 48 percent to $8.27. Eiger BioPharmaceuticals disclosed that its Phase 2 LIBERTY study in pulmonary arterial hypertension did not meet primary endpoint.

Shares of Digital Power Corp (NYSE: DPW) were down 15 percent to $2.29 after the company disclosed that it has raised $5.8 million in Series A1 financing.

Biomerica, Inc. (NASDAQ: BMRA) was down, falling around 11 percent to $4.43 following Q2 results. Biomerica reported Q2 sales of $1.614 million and loss of $0.03 per share.


In commodity news, oil traded down 0.68 percent to $63.86 while gold traded up 0.28 percent to $1,338.60.

Silver traded up 0.49 percent Tuesday to $17.225, while copper fell 0.05 percent to $3.217.


European shares closed mostly higher today. The eurozone’s STOXX 600 gained 0.13 percent, the Spanish Ibex Index rose 0.51 percent, while Italy’s FTSE MIB Index fell 0.21 percent. Meanwhile the German DAX climbed 0.35 percent, and the French CAC 40 rose 0.08 percent while U.K. shares fell 0.17 percent.


The Empire State manufacturing index declined to 17.7 in January, compared to a revised reading of 19.6 in December.

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


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