Mid-Afternoon Market Update: Dow Down 75 Points; Insperity Shares Rise After Q4 Results
Toward the end of trading Monday, the Dow traded down 0.30 percent to 25,032.08 while the NASDAQ climbed 0.04 percent to 7,300.89. The S&P also fell, dropping 0.04 percent to 2,706.90.
Leading and Lagging Sectors
Monday afternoon, the industrial shares climbed 0.4 percent. Meanwhile, top gainers in the sector included Insperity Inc (NYSE: NSP) up 16 percent, and US Xpress Enterprises Inc (NYSE: USX) up 6 percent.
In trading on Monday, health care shares fell 0.3 percent.
Top Headline
Restaurant Brands International Inc (NYSE: QSR) reported stronger-than-expected results for its fourth quarter.
Restaurant Brands earned $0.68 cents per share in the fourth quarter on revenue of $1.385 billion. However, analysts were expecting the company to earn $0.56 per share on revenue of $1.15 billion.
Equities Trading UP
Nemaura Medical Inc (NASDAQ: NMRD) shares got a boost, shooting up 19 percent to $1.23 on over 7x avg volume after the company announced Dr. Schaebsdau would lead the strategy and business development and advance the company's commercial strategy for its planned launch of the SugerBEAT.
Shares of Spi Energy Co Ltd (NASDAQ: SPI) shot up 43 percent to $3.87 after Nasdaq granted the company's request for continued listing.
Insperity, Inc. (NYSE: NSP) shares were also up, gaining 16 percent to $128.28 after the company reported upbeat Q4 results and issued strong earnings forecast.
Equities Trading DOWN
Kopin Corporation (NASDAQ: KOPN) shares dropped 16 percent to $1.10 following news of a $20 million at-the-market equity offering.
Shares of Auris Medical Holding AG (NASDAQ: EARS) were down 15 percent to $0.37 after the company announced that Nasdaq informed the company that it did not meet Nasdaq's deadline to regain compliance with Nasdaq listing rules.
Avaya Holdings Corp. (NYSE: AVYA) was down, falling around 10 percent to $15.96 after the company reported Q1 sales of $748 million down from $775 million year over year and GAAP net income of $9 million. The company said it expects Q2 sales of $740 million to $765 million versus the $761 million estimate.
Commodities
In commodity news, oil traded down 0.27 percent to $52.58 while gold traded down 0.44 percent to $1,312.70.
Silver traded down 0.66 percent Monday to $15.705, while copper fell 0.82 percent to $2.7875.
Eurozone
European shares closed higher today. The eurozone’s STOXX 600 climbed 0.85 percent, the Spanish Ibex Index rose 0.9 percent, while Italy’s FTSE MIB Index surged 1.21 percent. Meanwhile the German DAX climbed 0.99 percent, and the French CAC 40 surged 1.06 percent while U.K. shares rose 0.82 percent.
Economics
On the economics calendar Monday, there is no important data due out.
© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Posted-In: Mid-Afternoon Market UpdateNews Eurozone Commodities Global Intraday Update Markets