Market Overview

Mid-Afternoon Market Update: CareDx Rises Following Q4 Results; PLx Pharma Shares Plummet


Toward the end of trading Friday, the Dow traded down 0.03 percent to 23,951.34 while the NASDAQ declined 0.70 percent to 7,116.33. The S&P also fell, dropping 0.42 percent to 2,632.58.

Leading and Lagging Sectors

On Friday, the energy shares gained 0.82 percent. Meanwhile, top gainers in the sector included California Resources Corporation (NYSE: CRC), up 10 percent, and Sanchez Energy Corporation (NYSE: SN), up 8 percent.

In trading on Friday, financial shares fell 0.54 percent.

Top Headline

Nike Inc (NYSE: NKE) reported stronger-than-expected results for its third quarter and reported the purchase of Zodiac on Thursday.

Adjusted earnings came in at 68 cents per share, beating estimates of 53 cents per share. Sales came in at $9 billion, versus estimates of $8.85 billion.


Equities Trading UP

CareDx, Inc (NASDAQ: CDNA) shares shot up 21 percent to $7.255 as the company reported upbeat results for its fourth quarter.

Shares of New York & Company, Inc. (NYSE: NWY) got a boost, shooting up 26 percent to $3.4901 following Q4 results. New York & Company posted Q4 adjusted earnings of $0.08 per share on revenue of $278.7 million.

At Home Group Inc. (NYSE: HOME) shares were also up, gaining 19 percent to $31.50 after the company reported upbeat Q4 earnings and issued upbeat FY19 guidance.

Equities Trading DOWN

PLx Pharma Inc. (NASDAQ: PLXP) shares dropped 19 percent to $5.05 as the company posted a wider-than-expected quarterly loss.

Shares of Intellicheck, Inc. (NYSE: IDN) were down 12 percent to $2.00 after reporting Q4 results.

Resonant Inc. (NASDAQ: RESN) was down, falling around 11 percent to $3.3593. Resonant priced its 5.7 million share offering at $3.50 per share.


In commodity news, oil traded up 1.65 percent to $65.36 while gold traded up 1.61 percent to $1,354.60.

Silver traded up 1.21 percent Friday to $16.585, while copper fell 0.68 percent to $2.9995.


European shares closed lower today. The eurozone’s STOXX 600 declined 0.90 percent, the Spanish Ibex Index fell 0.99 percent, while Italy’s FTSE MIB Index dipped 0.49 percent. Meanwhile the German DAX fell 1.77 percent, and the French CAC 40 slipped 1.39 percent while U.K. shares fell 0.44 percent.


U.S. durable goods orders rose 3.1 percent for February, beating economists’ expectations for a 1.5 percent gain.

New-home sales fell 0.6 percent at an annual rate of 618,000 in February.

The total number of active U.S. oil rigs rose by 4 to 804 rigs this week, Baker Hughes Inc reported.

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


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