Market Overview

Mid-Day Market Update: Crude Oil Down 1.3%; SendGrid Shares Spike Higher

Share:

Midway through trading Wednesday, the Dow traded up 1.1 percent to 25,917.22 while the NASDAQ climbed 1.82 percent to 7,510.15. The S&P also rose, gaining 1.29 percent to 2,791.04.

Leading and Lagging Sectors

On Wednesday, the health care shares climbed 2.5 percent. Meanwhile, top gainers in the sector included Genomic Health, Inc. (NASDAQ: GHDX) up 23 percent, and Idera Pharmaceuticals Inc (NASDAQ: IDRA) up 23 percent.

In trading on Wednesday, financial shares fell 0.2 percent.

Top Headline

Humana Inc (NYSE: HUM) reported upbeat earnings for its third quarter.

Humana reported earnings of $4.58 per share, beating estimates of $4.26. Total revenue came in at $14.21 billion, which exceeded estimates of $13.98 billion.

Humana raised its FY18 adjusted earnings guidance from $14.15 per share to $14.40 per share.

Equities Trading UP

Twilio Inc (NYSE: TWLO) shares shot up 34 percent to $94.94 after reporting a third-quarter earnings beat. Guidance came in stronger than expected.

Shares of Jones Energy, Inc. (NYSE: JONE) got a boost, shooting up 42 percent to $3.41. Jones Energy reported appointment of two new independent directors.

SendGrid Inc (NYSE: SEND) shares were also up, gaining 34 percent to $45.99 following Q3 results.

Equities Trading DOWN

MiMedx Group, Inc. (NASDAQ: MDXG) shares dropped 35 percent to $4.02 after Nasdaq decided to suspend trading in the stock effective 11/8.

Shares of Infinera Corporation (NASDAQ: INFN) were down 32 percent to $4.21 after the company reported downbeat Q3 sales and issued weak Q4 forecast.

Diplomat Pharmacy, Inc. (NYSE: DPLO) was down, falling around 32 percent to $13.92 following Q3 results.

Commodities

In commodity news, oil traded down 1.33 percent to $61.38 while gold traded up 0.23 percent to $1,229.10.

Silver traded up 0.62 percent Wednesday to $14.59, while copper rose 0.62 to $2.7495.

 

Eurozone

European shares were higher today. The eurozone’s STOXX 600 climbed 1.05 percent, the Spanish Ibex Index rose 2.02 percent, while Italy’s FTSE MIB Index rose 1.25 percent. Meanwhile the German DAX climbed 0.87 percent, and the French CAC 40 jumped 1.19 percent while U.K. shares rose 0.95 percent.

Economics

The Federal Open Market Committee will begin its two-day policy meeting today

Domestic crude supplies climbed 5.8 million barrels for the week ended November 2, the Energy Information Administration reported. Analysts expected a gain of 1.9 million barrels. Gasoline stockpiles rose 1.9 million barrels, while distillate stockpiles dropped 3.5 million barrels last week.

Data on consumer credit for September will be released at 3:00 p.m. ET.

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

 

Related Articles (GHDX + DPLO)

View Comments and Join the Discussion!
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 vipaccounts@benzinga.com

Dialing Up An International Internet ETF

BlizzCon Didn't Go How ATVI Management Hoped, Now Time For Earnings