Mid-Day Market Update: Guardant Health Jumps Following Upbeat Q4 Results; Sientra Shares Plunge

Midway through trading Wednesday, the Dow traded up 0.66 percent to 25,724.04 while the NASDAQ climbed 0.9 percent to 7,659.47. The S&P also rose, gaining 0.84 percent to 2,814.92.

Leading and Lagging Sectors

On Wednesday, the health care shares climbed 1.1 percent. Meanwhile, top gainers in the sector included Guardant Health, Inc. GH up 26 percent, and Natera, Inc. NTRA up 20 percent.

In trading on Wednesday, utilities shares rose by just 0.05 percent.

Top Headline

Express, Inc. EXPR reported upbeat earnings for its fourth quarter, while sales missed views. The company also issued weak forecast for the first quarter.

Express reported quarterly earnings of $0.19 per share on sales of $628.4 million. However, analysts were expecting earnings of $0.16 per share on sales of $629.63 million.

Express projects Q1 EPS of $(0.34) to $(0.27), versus analysts’ estimates of $(0.04). The company expects Q1 comparable sales down 9 percent to 11 percent.


Equities Trading UP

Akari Therapeutics PLC AKTX shares got a boost, shooting up 173 percent to $4.96 after the company had a successful Type B, pre-IND meeting with the FDA regarding Akari's proposed pivotal clinical trial program for hematopoietic stem cell transplant-related thrombotic microangiopathy.

Shares of Pareteum Corporation TEUM shot up 27 percent to $4.95 after the company reported better-than-expected Q4 EPS and sales results.

Guardant Health, Inc. GH shares were also up, gaining 26 percent to $93.39 after the company reported better-than-expected Q4 results. The company also issued FY19 sales guidance above analyst estimates.

Equities Trading DOWN

Sientra, Inc. SIEN shares dropped 25 percent to $8.52 after the company reported lower-than-expected Q4 EPS results.

Shares of BlueLinx Holdings Inc. BXC were down 20 percent to $24.81 following Q4 results. Bluelinx posted a Q4 loss of $1.74 per share on sales of $672.64 million.

Synchronoss Technologies, Inc. SNCR was down, falling around 18 percent to $6.79 after reporting lower-than-expected earnings and sales for its fourth quarter.


In commodity news, oil traded up 1.7 percent to $57.81 while gold traded up 0.8 percent to $1,308.20.

Silver traded up 0.4 percent Wednesday to $15.47, while copper rose 0.2 percent to $2.933.



European shares were higher today. The eurozone’s STOXX 600 gained 0.51 percent, the Spanish Ibex Index rose 0.29 percent, while Italy’s FTSE MIB Index rose 0.44 percent. Meanwhile the German DAX gained 0.35 percent, and the French CAC 40 gained 0.61 percent while U.K. shares rose 0.11 percent.


U.S. durable goods orders increased 0.4 percent for January, versus economists’ expectations for a 0.7 percent decline.

The Producer Price Index rose 0.1 percent for February, versus economists’ expectations for a 0.2 percent increase.

U.S. construction spending rose 1.3 percent for January, beating economists’ estimates of a 0.4 percent gain.

U.S. crude supplies dropped 3.86 million barrels for the week ended March 8, the Energy Information Administration reported. However, analysts projected a gain of 1.2 million barrels. Supplies of gasoline fell 4.62 million barrels, while distillates rose 383,000 barrels last week.

Market News and Data brought to you by Benzinga APIs
Posted In: NewsEurozoneCommoditiesGlobalIntraday UpdateMarketsMid-Day Market Update
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!