Market Overview

Mid-Afternoon Market Update: BOS Better Online Solutions Falls After Q1 Results; Organovo Holdings Shares Rise

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Toward the end of trading Thursday, the Dow traded up 0.17 percent to 25169 while the NASDAQ rose 0.27 percent to 7,567. The S&P also rose, gaining 0.21 percent to 2,788.

Leading and Lagging Sectors

Real estate shares climbed 0.9 percent on Thursday. Meanwhile, top gainers in the sector included Rafael Holdings, Inc. (NYSE: RFL), up 4 percent, and SBA Communications Corporation (NASDAQ: SBAC), up 3 percent.

In trading on Thursday, energy shares fell by 0.6 percent.

Top Headline

Dollar General Corp. (NYSE: DG) reported better-than-expected results for its first quarter.

Dollar General reported quarterly earnings of $1.48 per share, which beat the analyst consensus estimate of $1.39. The company reported quarterly sales of $6.623 billion, which beat the analyst consensus estimate of $6.56 billion.

Equities Trading UP

Obalon Therapeutics, Inc. (NASDAQ: OBLN) shares shot up 42 percent to $1.60 after a 60 percent gain on Wednesday following questionable, unconfirmed and unreliable rumors of takeover interest.

Shares of Ageagle Aerial Systems Inc (NYSE: UAVS) got a boost, shooting up 29 percent to $0.40 after the company announced the introduction of its 'HempOverView' platform, which combines web-based data collection with aerial imaging technology to assist state administrators and growers with hemp cultivation.

Organovo Holdings Inc (NASDAQ: ONVO) shares were also up, gaining 92 percent to $0.7599 after the company announced a collaboration with MCRI and Leiden University Medical Center to develop stem cell-based bioprinted tissue treatments for kidney disease.

Equities Trading DOWN

J.Jill, Inc. (NYSE: JILL) shares tumbled 52 percent to $1.7150 following mixed Q1 results and reduced FY19 GAAP EPS guidance.

Shares of B.O.S Better Online Solutions Ltd. (NASDAQ: BOSC) were down 19 percent to $2.44 after the company reported Q1 EPS and sales results down from last year.

Zafgen, Inc. (NASDAQ: ZFGN) was down, falling 18 percent to $1.9590 after the company announced it received FDA Type A meeting minutes related to the previously announced clinical Hold on its ZGN-1061.

Commodities

In commodity news, oil traded down 3.8 percent to $56.55, while gold traded up 0.4 percent to $1,291.70.

Silver traded up 0.7 percent Thursday to $14.505, while copper fell 0.5 percent to $2.651.

Euro zone

European shares closed mostly higher today. The eurozone’s STOXX 600 gained 0.58 percent, the Spanish Ibex Index rose 0.94 percent, while Italy’s FTSE MIB Index fell 0.22 percent. Meanwhile, the German DAX climbed 0.67 percent, and the French CAC 40 dropped 1.7 percent while UK shares rose 0.67 percent.

Economics

Gross domestic product rose at an annual pace of 3.1 percent in the first quarter, versus an initial 3.2 percent estimate. Economists were projecting a 3.1 percent growth rate.

Initial jobless claims increased 3,000 to 215,000 in the latest week. However, economists were expecting a reading of 216,000.

U.S. trade deficit in goods increased 0.3 percent to $72.1 billion in April.

U.S. advanced wholesale inventories increased 0.7 percent in April, while retail inventories climbed 0.5 percent in April.

The pending home sales index slipped 1.5 percent for April, versus economists’ expectations for a 0.9 percent rise.

Domestic supplies of natural gas increased 114 billion cubic feet for the week ended May 24, the U.S. Energy Information Administration reported. However, analysts expected a gain of 95 billion cubic feet.

U.S. crude supplies fell 300,000 barrels for the week ended May 24, the Energy Information Administration reported. However, analysts projected a decline of 1.4 million barrels. Gasoline inventories rose 2.2 million barrels last week, while distillate stockpiles slipped 1.6 million barrels.

Data on money supply for the recent week will be released at 4:30 p.m. ET.

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

 

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