Market Overview

Mid-Afternoon Market Update: CCA Industries Falls Following Q2 Results; AMERI Holdings Shares Surge

Share:

Toward the end of trading Tuesday, the Dow traded up 0.17 percent to 25,107.29 while the NASDAQ climbed 0.59 percent to 7,852.04. The S&P also rose, gaining 0.39 percent to 2,809.36.

Leading and Lagging Sectors

Tuesday afternoon, the materials shares climbed 1.48 percent. Meanwhile, top gainers in the sector included Nevsun Resources Ltd. (NYSE: NSU) up 13 percent, and Contango Ore, Inc. (OTC: CTGO) up 12 percent.

In trading on Tuesday, real estate shares fell 0.68 percent.

Top Headline

Goldman Sachs Group Inc (NYSE: GS) reported better-than-expected earnings for its second quarter.

The bank posted quarterly profit of $5.98 per share, up from $3.95 per share, in the year-ago period. Analysts projected earnings of $4.66 per share.

Its total revenue climbed to $9.40 billion, beating analysts’ estimates of $8.74 billion.

Equities Trading UP

AMERI Holdings, Inc. (NASDAQ: AMRH) shares shot up 50 percent to $1.7669 after announcing a project with MedData to implement robotic process automation solution.

Shares of New Concept Energy, Inc. (NYSE: GBR) got a boost, shooting up 17 percent to $3.76 following announcement of extension from NYSE for the company to regain compliance.

Avid Bioservices, Inc. (NASDAQ: CDMO) shares were also up, gaining 27 percent to $5.6624 following a fourth-quarter earnings beat.

Equities Trading DOWN

CCA Industries, Inc. (NYSE: CAW) shares dropped 10 percent to $2.60. CCA Industries posted a Q2 loss of $0.04 per share on sales of $4.225 million.

Shares of MER Telemanagement Solutions Ltd. (NASDAQ: MTSL) were down 22 percent to $2.21 after climbing 79.75 percent on Monday.

Omnicom Group Inc. (NYSE: OMC) was down, falling around 8 percent to $71.870 following downbeat quarterly sales.

Commodities

In commodity news, oil traded up 0.41 percent to $68.34 while gold traded down 0.93 percent to $1,228.20.

Silver traded down 1.12 percent Tuesday to $15.635, while copper fell 0.54 to $2.7495.

Eurozone

European shares closed higher today. The eurozone’s STOXX 600 gained 0.24 percent, the Spanish Ibex Index rose 0.03 percent, while Italy’s FTSE MIB Index rose 0.71 percent. Meanwhile the German DAX climbed 0.80 percent, and the French CAC 40 gained 0.24 percent while U.K. shares rose 0.34 percent.

Economics

The Johnson Redbook Retail Sales Index for the latest week is schedule for release at 8:55 a.m. ET.

U.S. industrial production rose 0.6 percent for June, versus economists’ expectations for a 0.5 percent gain.

The NAHB housing market index came in at 68.00 for July, versus economists’ estimates for a reading of 69.00.

The Treasury International Capital report for May will be released at 4:00 p.m. ET.

 

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

 

Related Articles (CAW + AMRH)

View Comments and Join the Discussion!

Cannabis Producer Aphria's Latin American Expansion: What You Need To Know

Neurotrope Returns After 'Failed' Alzheimer's Trial, But Has Anything Changed?