Skip to main content

Market Overview

Mid-Day Market Update: Dow Drops Over 100 Points; KapStone Paper Shares Spike Higher


Midway through trading Monday, the Dow traded down 0.42 percent to 26,503.78 while the NASDAQ declined 0.51 percent to 7,467.41. The S&P also fell, dropping 0.49 percent to 2,858.80.

Leading and Lagging Sectors

On Monday, the healthcare shares slipped by just 0.1 percent. Meanwhile, top gainers in the sector included MannKind Corporation (NASDAQ: MNKD), up 6 percent, and Amicus Therapeutics, Inc. (NASDAQ: FOLD), up 7 percent.

In trading on Monday, telecommunications services shares fell 1.35 percent. Meanwhile, top losers in the sector included Partner Communications Company Ltd (ADR) (NASDAQ: PTNR), down 6 percent, and Cellcom Israel Ltd. (NYSE: CEL) down 6 percent.

Top Headline

Lockheed Martin Corporation (NYSE: LMT) reported better-than-expected earnings for its fourth quarter and raised its FY18 earnings outlook.

Lockheed Martin posted adjusted earnings from continuing operations of $4.30 per share in the fourth quarter on revenue of $15.14 billion. However, Wall Street analysts were expecting the company to earn $4.07 per share on revenue of $14.73 billion.

Lockheed Martin expects FY18 earnings of $15.20 to $15.50 per share, on sales of $50 billion to $51.5 billion. Analysts projected earnings of $14.00 per share on sales of $50.6 billion.

Equities Trading UP

Immersion Corporation (NASDAQ: IMMR) shares shot up 42 percent to $10.42 after the company reported a settlement with Apple.

Shares of KapStone Paper and Packaging Corp. (NYSE: KS) got a boost, shooting up 30 percent to $34.48 after the paper company confirmed it has agreed to sell itself to WestRock Co (NYSE: WRK), a larger and multinational provider of paper and packaging solutions.

Dr Pepper Snapple Group Inc. (NYSE: DPS) shares were also up, gaining 24 percent to $118.51. Dr. Pepper Snapple and Keurig Green Mountain announced plans to combine themselves into one new company called Keurig Dr. Pepper. As part of a deal, Dr. Pepper Snapple investors will receive $103.75 per share in a special one-time cash dividend and own 13 percent of the combined entity.

Equities Trading DOWN

Aradigm Corporation (NASDAQ: ARDM) shares dropped 21 percent to $1.76 after the pharmaceutical company that focuses on severe respiratory diseases announced a disappointing update. The company said the U.S. Food and Drug Administration won't approve its Linhaliq NDA in its present form due to multiple areas of concerns, including clinical data, product quality, and human factors.

Shares of Inc (NASDAQ: SOHU) were down 15 percent to $39.46. reported a Q4 loss of $294.1 million on revenue of $509.6 million.

Fusion Telecommunications Int'l, Inc. (NASDAQ: FSNN) was down, falling around 10 percent to $3.23. Fusion announced a $30 million offering.


In commodity news, oil traded down 1.22 percent to $65.33 while gold traded down 0.75 percent to $1,347.00.

Silver traded down 1.32 percent Monday to $17.21, while copper rose 0.16 percent to $3.204.


European shares were mostly lower today. The eurozone’s STOXX 600 slipped 0.10 percent, the Spanish Ibex Index fell 0.47 percent, while Italy’s FTSE MIB Index dropped 0.14 percent. Meanwhile the German DAX dropped 0.07 percent, and the French CAC 40 slipped 0.01 percent while U.K. shares rose 0.04 percent.


U.S. consumer spending gained 0.4 percent for December, while personal income rose 0.4 percent. Economists were expecting a 0.5 percent increase in spending.

The Dallas Fed manufacturing business index climbed to 33.40 for January, versus prior reading of 29.70. However, economists were expecting a reading of 25.30.


Related Articles (CEL + ARDM)

View Comments and Join the Discussion!

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

Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at