Market Overview

Mid-Afternoon Market Update: Image Sensing Systems Gains Following Q4 Results; J.Jill Shares Plummet

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Toward the end of trading Thursday, the Dow traded up 0.36 percent to 24,846.84 while the NASDAQ declined 0.30 percent to 7,474.28. The S&P also fell, dropping 0.13 percent to 2,746.02.

Leading and Lagging Sectors

Thursday afternoon, the healthcare shares slipped by just 0.04 percent. Meanwhile, top gainers in the sector included Geron Corporation (NASDAQ: GERN), up 12 percent, and ArQule, Inc. (NASDAQ: ARQL), up 17 percent.

In trading on Thursday, energy shares fell 1.24 percent. Meanwhile, top losers in the sector included Enbridge Energy Partners, L.P. (NYSE: EEP), down 14 percent, and TC Pipelines, LP (NYSE: TCP) down 16 percent.

Top Headline

Dollar General Corp. (NYSE: DG) reported in-line earnings for its fourth quarter and issued a strong earnings forecast for FY18. The company’s same-store sales also exceeded expectations.

The company earned $1.48 per share on revenue of $6.1 billion and announced an incremental $1 billion share buyback authorization and lifted its quarterly dividend from 26 cents per share to 29 cents per share.

Equities Trading UP

Arcus Biosciences, Inc. (NASDAQ: RCUS) shares shot up 22 percent to $18.32. Arcus Biosciences priced its IPO at $15 per share.

Shares of KBS Fashion Group Ltd (NASDAQ: KBSF) got a boost, shooting up 116 percent to $10.65 after the company disclosed a new long term contract with Kai Xin.

Image Sensing Systems, Inc. (NASDAQ: ISNS) shares were also up, gaining 39 percent to $4.25. Image Sensing reported Q4 earnings of $0.13 per share on revenue of $4.34 million. The company announced resignation of CFO Richard Ehrich.

Equities Trading DOWN

Solid Biosciences Inc (NASDAQ: SLDB) shares dropped 63 percent to $9.70 after the company reported a clinical hold on SGT-001 Phase I/II clinical trial for Duchenne Muscular Dystrophy.

Shares of WideOpenWest Inc (NYSE: WOW) were down 21 percent to $7.24 as the company posted downbeat Q4 sales and issued a weak sales guidance for FY18.

J.Jill Inc (NYSE: JILL) was down, falling around 35 percent to $4.87. J.Jill reported Q4 adjusted earnings of $0.13 per share on sales of $188.7 million. The company expects Q1 adjusted earnings of $0.14 to $0.16 per share and announced the retirement of its CEO Paula Bennett.

Commodities

In commodity news, oil traded up 0.59 percent to $61.32 while gold traded down 0.52 percent to $1,318.70.

Silver traded down 0.59 percent Thursday to $16.44, while copper fell 0.98 percent to $3.1275.

Eurozone

European shares closed mostly higher today. The eurozone’s STOXX 600 climbed 0.52 percent, the Spanish Ibex Index fell 0.04 percent, while Italy’s FTSE MIB Index rose 1.16 percent. Meanwhile the German DAX gained 0.88 percent, and the French CAC 40 gained 0.65 percent while U.K. shares rose 0.10 percent.

Economics

Initial jobless claims slipped 4,000 to 226,000 in the latest week. Economists expected claims to total 228,000.

The Philly Fed manufacturing index declined to 22.30 for March, versus prior reading of 25.80. Economists projected a reading of 23.20.

The Empire State manufacturing index gained to 22.50 in March, versus previous reading of 13.10. Economists expected a reading of 15.20.

U.S. import prices rose 0.4 percent in February.

The NAHB housing market index fell 1 point to a reading of 70 for March.

Domestic supplies of natural gas slipped 93 billion cubic feet for the week ended March 9, the U.S. Energy Information Administration reported. Analysts expected a drop of 100 billion cubic feet.

The Treasury International Capital report for January is schedule for release at 4:00 p.m. ET.

Data on money supply for the recent week will be released at 4:30 p.m. ET.

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

 

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