Market Overview

Mid-Afternoon Market Update: Dow Down 50 Points; Dycom Industries Shares Plummet

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Toward the end of trading Monday, the Dow traded down 0.20 percent to 25,262.57 while the NASDAQ climbed 0.15 percent to 7,851.15 . The S&P also fell, dropping 0.05 percent to 2,831.82 .

Leading and Lagging Sectors

Monday afternoon, the information technology shares rose 0.14 percent. Meanwhile, top gainers in the sector included Diebold Nixdorf, Incorporated (NYSE: DBD) up 13 percent, and Intelligent Systems Corporation (NYSE: INS) up 8 percent.

In trading on Monday, materials shares fell 1.15 percent.

Top Headline

SYSCO Corporation (NYSE: SYY) reported better-than-expected earnings for its fourth quarter on Monday.

Earnings came in at 94 cents per share, beating estimates of 93 cents. Sales came in at $15.32 billion, beating estimates of $15.28 billion.

Equities Trading UP

Ability Inc. (NASDAQ: ABIL) shares shot up 45 percent to $6.67.

Shares of Nielsen Holdings plc (NYSE: NLSN) got a boost, shooting up 10 percent to $24.06. The WSJ first reported activist investment firm Elliott Management acquired an 8-percent stake in the measurement and data analytics company and plans to push management to explore a sale of itself.

Diebold Nixdorf, Incorporated (NYSE: DBD) shares were also up, gaining 13 percent to $4.475 after the company increased its total ownership in Diebold Nixdorf AG to 90 percent.

 

Equities Trading DOWN

Dycom Industries, Inc. (NYSE: DY) shares dropped 23 percent to $68.81 after the company lowered its outlook for the second quarter and FY19.

Shares of Sphere 3D Corp. (NASDAQ: ANY) were down 30 percent to $0.2137 after its subsidiary, Overland Storage, defaulted on interest payment.

Hugoton Royalty Trust (NYSE: HGT) was down, falling around 40 percent to $0.3655 after the company announced voluntary delisting from NYSE after August 24.

Commodities

In commodity news, oil traded down 2.2 percent to $66.14 while gold traded down 1.49 percent to $1,200.80.

Silver traded down 1.83 percent Monday to $15.015, while copper fell 0.49 to $2.729.

Eurozone

European shares closed lower today. The eurozone’s STOXX 600 declined 0.25 percent, the Spanish Ibex Index fell 0.75 percent, while Italy’s FTSE MIB Index declined 0.58 percent. Meanwhile the German DAX dropped 0.53 percent, and the French CAC 40 fell 0.04 percent while U.K. shares fell 0.32 percent.

Economics

On the economics calendar Monday, there is no important data due out.

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

 

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