Market Overview

Mid-Afternoon Market Update: Veoneer Falls After Q1 Results; Changyou.Com Shares Jump

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Toward the end of trading Monday, the Dow traded up 0.12 percent to 26,575.13 while the NASDAQ gained 0.25 percent to 8,166.65. The S&P also rose, gaining 0.26 percent to 2,947.41.

Leading and Lagging Sectors

Monday afternoon, the financial shares rose 1.3 percent. Meanwhile, top gainers in the sector included Qudian Inc. (NYSE: QD) up 8 percent, and Goosehead Insurance, Inc (NASDAQ: GSHD) up 7 percent.

In trading on Monday, utilities shares fell 0.8 percent.

Top Headline

Restaurant Brands International Inc (NYSE: QSR) reported weaker-than-expected earnings for its first quarter.

Restaurant Brands said it earned $0.55 per share in the first quarter on revenue of $1.266 billion. However, analysts were expecting earnings of $0.56 per share on sales of $1.15 billion.

 

Equities Trading UP

Roan Resources, Inc. (NYSE: ROAN) shares got a boost, shooting up 43 percent to $6.00 after the company disclosed it has received unsolicited indications of interest and formed a transaction committee to evaluate a potential sale or merger.

Shares of Changyou.com Limited (NASDAQ: CYOU) shot up 23 percent to $19.90 after the company reported better-than-expected Q1 EPS and sales. The company also announced a special dividend of $9.40 per ADS.

Sohu.com Limited (NASDAQ: SOHU) shares were also up, gaining 20 percent to $18.47 following strong Q1 results.

Equities Trading DOWN

Veoneer, Inc. (NYSE: VNE) shares dropped 16 percent to $22.45 after the company reported worse-than-expected Q1 EPS and revenue results.

Shares of Silicom Ltd. (NASDAQ: SILC) were down 18 percent to $32.10 after the company reported Q1 results and issued weak Q2 sales forecast.

Momo Inc. (NASDAQ: MOMO) was down, falling around 8 percent to $34.14 after the company's Tantan mobile app was suspended from several app stores.

Commodities

In commodity news, oil traded up 0.4 percent to $63.55 while gold traded down 0.6 percent to $1,281.20.

Silver traded down 1 percent Monday to $14.94, while copper rose 0.1 percent to $2.8965.

 

Eurozone

European shares closed mostly higher today. The eurozone’s STOXX 600 rose 0.08 percent, the Spanish Ibex Index rose 0.12 percent, while Italy’s FTSE MIB Index gained 0.23 percent. Meanwhile the German DAX gained 0.1 percent, and the French CAC 40 gained 0.21 percent while U.K. shares rose 0.17 percent.

Economics

U.S. consumer spending increased 0.9 percent in March, following a 0.1 percent rise in February. Personal income rose 0.1 percent in March.

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

 

Related Articles (CYOU + GSHD)

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