Market Overview

Mid-Afternoon Market Update: OncoCyte Surges Following Positive DetermaVu Study Results; IsoRay Shares Drop

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Toward the end of trading Tuesday, the Dow traded up 0.57 percent to 24,918.21 while the NASDAQ climbed 0.03 percent to 7,758.14. The S&P also rose, gaining 0.32 percent to 2,793.11.

Leading and Lagging Sectors

Tuesday afternoon, the consumer staples shares climbed 0.7 percent. Meanwhile, top gainers in the sector included Simply Good Foods Company (NASDAQ: SMPL) up 7 percent, and PepsiCo, Inc. (NASDAQ: PEP) up 4 percent.

In trading on Tuesday, industrial shares fell 0.02 percent.

Top Headline

PepsiCo, Inc. (NASDAQ: PEP) reported better-than-expected results for its second quarter.

PepsiCo posted Q2 earnings of $1.61 per share on revenue of $16.09 billion. However, analysts expected earnings of $1.52 per share on sales of $16.05 billion.

 

Equities Trading UP

OncoCyte Corp (NYSE: OCX) shares shot up 25 percent to $3.81 following announcement of encouraging results in study of lung cancer test DetermaVu.

Shares of Inspire Medical Systems, Inc. (NYSE: INSP) got a boost, shooting up 18 percent to $43.87. Inspire Medical disclosed that health insurer Aetna Inc (NYSE: AET) will provide coverage for its Inspire therapy, effective immediately.

Bridgeline Digital, Inc. (NASDAQ: BLIN) shares were also up, gaining 144 percent to $3.1973 after the company reported a digital platform contract with a full-service bank.

Equities Trading DOWN

IsoRay, Inc. (NYSE: ISR) shares dropped 35 percent to $0.695 after surging 159.09 percent on Monday. IsoRay disclosed a $8.25 million registered direct offering.

Shares of Staffing 360 Solutions, Inc. (NASDAQ: STAF) were down 33 percent to $3.70. Staffing 360 Solutions shares surged 301.46 percent Monday after the company reported an acquisition of recruitment firm Clement May Limited.

Spero Therapeutics, Inc. (NASDAQ: SPRO) was down, falling around 17 percent to $14.35 after the company disclosed a 4.5 million share common stock offering.

Commodities

In commodity news, oil traded up 0.28 percent to $74.06 while gold traded down 0.24 percent to $1,256.60.

Silver traded down 0.21 percent Tuesday to $16.105, while copper fell 0.58 to $2.8335.

Eurozone

European shares closed mostly higher today. The eurozone’s STOXX 600 gained 0.43 percent, the Spanish Ibex Index fell 0.38 percent, while Italy’s FTSE MIB Index rose 0.11 percent. Meanwhile the German DAX gained 0.53 percent, and the French CAC 40 climbed 0.67 percent while U.K. shares rose 0.05 percent.

Economics

The NFIB small business optimism index declined 0.6 points to a reading of 107.2 for June.

U.S. job openings declined to 6.64 million for May, compared to 6.84 million, the Labor Department reported.

 

Related Articles (AET + BLIN)

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