Market Overview

Mid-Afternoon Market Update: Limelight Networks Gains After Strong Q2 Results; Skechers Shares Plummet


Toward the end of trading Friday, the Dow traded up 0.05 percent to 25,076.97 while the NASDAQ gained 0.14 percent to 7,835.96. The S&P also rose, gaining 0.01 percent to 2,804.87.

Leading and Lagging Sectors

Friday afternoon, the consumer staples shares climbed 0.47 percent. Meanwhile, top gainers in the sector included Natural Health Trends Corp. (NASDAQ: NHTC) up 9 percent, and Standard Diversified Inc. (NYSE: SDI) up 7 percent.

In trading on Friday, utilities shares fell 0.90 percent.

Top Headline

Honeywell International Inc. (NYSE: HON) reported better-than-expected earnings for its second quarter and raised its FY18 guidance.

The company posted quarterly profit of $2.12 per share, on revenue of $10.919 billion. Analysts projected earnings of $2.01 per share on revenue of $10.81 billion.


Equities Trading UP

ReWalk Robotics Ltd. (NASDAQ: RWLK) shares shot up 74 percent to $1.2501 after the U.S. Department of Veterans Affairs expanded access to the company’s exoskeletons for paralyzed veterans.

Shares of Limelight Networks, Inc. (NASDAQ: LLNW) got a boost, shooting up 8 percent to $5.06 as the company posted upbeat Q2 results and raised its FY18 sales outlook.

Tilray, Inc. (NASDAQ: TLRY) shares were also up, gaining 29 percent to $28.89 after surging 31.71 percent on Thursday. Tilray priced its 9 million share offering at $17 per share.

Equities Trading DOWN

Skechers U.S.A., Inc. (NYSE: SKX) shares dropped 22 percent to $25.92 after the footwear company disappointed investors with its second-quarter earnings report and third-quarter guidance. The company guided its third-quarter EPS to a range of 50 cents to 55 cents on revenue of $1.2 billion to $1.225 billion versus the Street's model of 68 cents per share and $1.26 billion.

Shares of Zynerba Pharmaceuticals, Inc. (NASDAQ: ZYNE) were down 24 percent to $7.97 after the cannabinoid-focused company announced a public offering of common stock. The company said proceeds will be used to support the clinical development of its ZYN002 therapy and for general corporate purposes.

Diversified Restaurant Holdings, Inc. (NASDAQ: SAUC) was down, falling around 17 percent to $1.01 after the company reported pricing of its public offering of common stock.


In commodity news, oil traded up 1.08 percent to $70.21 while gold traded up 0.60 percent to $1,231.40.

Silver traded up 1.03 percent Friday to $15.56, while copper rose 2.08 to $2.7515.


European shares closed mostly lower today. The eurozone’s STOXX 600 declined 0.15 percent, the Spanish Ibex Index rose 0.04 percent, while Italy’s FTSE MIB Index fell 0.41 percent. Meanwhile the German DAX dropped 0.98 percent, and the French CAC 40 slipped 0.35 percent while U.K. shares fell 0.09 percent.


The total number of active U.S. oil rigs declined by 5 to 858 rigs this week, Baker Hughes Inc reported.

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


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