Market Overview

Mid-Morning Market Update: Markets Mixed; Winnebago Industries Reports Mixed Q3 Results


Following the market opening Wednesday, the Dow traded up 0.12% to 26,497.28 while the NASDAQ fell 0.10% to 7,945.89. The S&P also rose, gaining 0.01% to 2,918.11.

Leading and Lagging Sectors

Financial shares rose 0.7% on Wednesday. Meanwhile, top gainers in the sector included PPDAI Group Inc. (NYSE: PPDF), up 4%, and Qudian Inc. (NYSE: QD), up 5%.

In trading on Wednesday, real estate shares fell by 0.4%.

Top Headline

Winnebago Industries, Inc. (NYSE: WGO) reported upbeat earnings for its third quarter, while sales missed views.

Winnebago reported quarterly earnings of $1.04 per share on sales of $ $528.94 million. However, analysts were expecting earnings of $1.01 per share on sales of $564.03 million.

Equities Trading UP

Foresight Autonomous Holdings Ltd. (NASDAQ: FRSX) shares shot up 52% to $1.4270 after the company signed a commercial agreement with Elbit Systems for exclusive marketing of its software for the defense market.

Shares of Arcturus Therapeutics Holdings Inc (NASDAQ: ARCT) got a boost, shooting up 39% to $8.06 after the company expanded its research collaboration and licensing agreement with Ultragenyx to develop nucleic acid therapies. The company will receive upfront payments and an equity investment.

Melinta Therapeutics, Inc. (NASDAQ: MLNT) shares were also up, gaining 120% to $4.3550 after the company reported FDA approval of its BAXDELA sNDA for the treatment of community acquired bacterial pneumonia.

Equities Trading DOWN

Sesen Bio, Inc. (NASDAQ: SESN) shares tumbled 23% to $1.42. Sesen Bio priced its 20.41 million share offering at $1.47 per share.

Shares of MoneyGram International, Inc. (NASDAQ: MGI) were down 19% to $3.15 after climbing 167.59% on Tuesday.

QuickLogic Corporation (NASDAQ: QUIK) was down, falling 25% to $0.5340 after the company reported pricing of $8.0 million public offering of common stock.


In commodity news, oil traded up 0.1% to $53.94, while gold traded down 0.2% to $1,348.10.

Silver traded down 0.1% Wednesday to $14.975, while copper fell 0.4% to $2.692.

Euro zone

European shares were mostly lower today. The eurozone’s STOXX 600 fell 0.2%, the Spanish Ibex Index fell 0.4%, while Italy’s FTSE MIB Index gained 0.3%. Meanwhile, the German DAX dropped 0.2%, and the French CAC 40 fell 0.1% while UK shares fell 0.4%.


The Energy Information Administration’s weekly report on petroleum inventories in the U.S. is schedule for release at 10:30 a.m. ET.

The Federal Open Market Committee will announce its policy decision at 2:00 p.m. ET.

The Fed Chairman Jerome Powell will hold a press conference at 2:30 p.m. ET.


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