Market Overview

Mid-Day Market Update: Champions Oncology Surges Following Q1 Earnings Beat; IRIDEX Shares Drop


Midway through trading Friday, the Dow traded up 0.12 percent to 26,176.58 while the NASDAQ climbed 0.27 percent to 8,035.62. The S&P also rose, gaining 0.10 percent to 2,906.95.

Leading and Lagging Sectors

On Friday, the financial shares rose 0.56 percent. Meanwhile, top gainers in the sector included China Internet Nationwide Financial Services Inc. (NASDAQ: CIFS) up 11 percent, and Golden Bull Limited (NASDAQ: DNJR) up 7 percent.

In trading on Friday, real estate shares fell 1.27 percent.

Top Headline

Dave & Buster's Entertainment Inc (NASDAQ: PLAY) reported upbeat earnings for its second quarter.

Dave & Buster's posted quarterly earnings of $0.84 per share on revenue of $319.188 million. However, analysts expected earnings of $0.67 per share on sales of $315.25 million. The company raised its FY18 sales guidance from $1.20 billion-$1.24 billion, to $1.23 billion-$1.26 billion. Dave & Busters initiated $0.15 per share quarterly cash dividend and expanded its buyback authorization by $100 million.

Equities Trading UP

Champions Oncology Inc (NASDAQ: CSBR) shares shot up 10 percent to $9.35 after the company reported better-than-expected results for its first quarter.

Shares of Radiant Logistics, Inc. (NYSE: RLGT) got a boost, shooting up 13 percent to $5.18 after the company reported stronger-than-expected results for its fourth quarter on Thursday.

Frequency Electronics, Inc. (NASDAQ: FEIM) shares were also up, gaining 15 percent to $9.01. Frequency Electronics reported Q1 net income of $31,000 on sales of $11 million.

Equities Trading DOWN

IRIDEX Corporation (NASDAQ: IRIX) shares dropped 15 percent to $6.60. IRIDEX priced its 1.67 million share common stock offering at $6 per share.

Shares of Tandem Diabetes Care, Inc. (NASDAQ: TNDM) were down 7 percent to $47.645. Baird downgraded Tandem Diabetes Care from Outperform to Neutral.

Valvoline Inc. (NYSE: VVV) was down, falling around 9 percent to $20.38 after analysts at JP Morgan downgraded the stock from Neutral to Underweight and lowered the price target from $22 to $20.


In commodity news, oil traded down 0.57 percent to $68.20 while gold traded down 0.47 percent to $1,202.50.

Silver traded down 0.62 percent Friday to $14.155, while copper fell 0.78 to $2.662.


European shares were higher today. The eurozone’s STOXX 600 rose 0.32 percent, the Spanish Ibex Index rose 0.29 percent, while Italy’s FTSE MIB Index climbed 0.06 percent. Meanwhile the German DAX gained 0.56 percent, and the French CAC 40 climbed 0.55 percent while U.K. shares rose 0.29 percent.


U.S. retail sales rose 0.1 percent for August, versus economists’ expectations for a 0.4 percent gain.

U.S. import prices declined 0.6 percent in August.

U.S. industrial production rose 0.4 percent for July, versus economists’ expectations for a 0.3 percent increase.

U.S. business inventories rose 0.6 percent for July, versus economists’ expectations for a 0.5 percent gain.

The University of Michigan's consumer sentiment index increased to 100.8 for September, compared to 96.2.

The Baker Hughes North American rig count report for the recent week will be released at 1:00 p.m. ET.

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


Related Articles (CSBR + CIFS)

View Comments and Join the Discussion!
Fastest Market News Application
You'll Hear It First On Pro
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Trading Daily
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at

32 Stocks Moving In Friday's Mid-Day Session

Ten Years Gone: Investing Lessons From The Lehman Brothers Collapse