Market Overview

Mid-Day Market Update: Crude Oil Down 3.5%; MDJM Shares Spike Higher

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Midway through trading Tuesday, the Dow traded down 0.09% to 26694.04 while the NASDAQ fell 0.17% to 8,077.18. The S&P also fell, dropping 0.07% to 2,962.40.

Leading and Lagging Sectors

Real estate shares rose 1.5% on Tuesday. Meanwhile, top gainers in the sector included Spirit Realty Capital, Inc. (NYSE: SRC), up 5%, and Medical Properties Trust, Inc. (NYSE: MPW), up 3%.

In trading on Tuesday, energy shares fell 1.7%.

Top Headline

Greenbrier Companies, Inc. (NYSE: GBX) reported downbeat results for its third quarter and issued weak Q4 forecast.

Greenbrier reported adjusted third-quarter earnings of 89 cents per share, which missed the analyst consensus estimate of 95 cents. The company reported quarterly sales of $856.2 million, which missed the analyst consensus estimate of $862.45 million.

Greenbrier said it expects Q4 earnings of $1.30 to $1.50 per share on sales of $1.0 billion. Analysts project earnings of $1.89 per share on sales of $1.1 billion.

Equities Trading UP

MDJM Ltd. (NASDAQ: MDJH) shares shot up 49% to $4.01 after the company announced it renewed a Primary Real Estate Agency Services Contract with Tianjin Binhai New City Investment Co.

Shares of Dova Pharmaceuticals, Inc. (NASDAQ: DOVA) got a boost, shooting up 10% to $15.70. Evercore ISI Group upgraded Dova Pharmaceuticals from In-Line to Outperform.

Bio-Path Holdings Inc (NASDAQ: BPTH) shares were also up, gaining 10% to $14.98 after patent site USPTO showed the company received a patent entitled "P-ethoxy nucleic acids for liposomal formulation."

Equities Trading DOWN

Acuity Brands, Inc. (NYSE: AYI) shares tumbled 7% to $130.58 after the company reported worse-than-expected Q3 sales results.

Shares of Francesca's Holdings Corporation (NASDAQ: FRAN) were down 9% to $4.80 after the company reported the resignation of CFO Kelly Dilts.

CyberOptics Corporation (NASDAQ: CYBE) was down, falling 24% to $13.56 after the company lowered its Q2 revenue forecast.

Commodities

In commodity news, oil traded down 3.5% to $57.02, while gold traded up 0.6% to $1,397.50.

Silver traded up 0.1% Tuesday to $15.195, while copper fell 1.1% to $2.658.

Euro zone

European shares were mostly higher today. The eurozone’s STOXX 600 rose 0.4%, the Spanish Ibex Index rose 0.27%, while Italy’s FTSE MIB Index gained 0.81%. Meanwhile, the German DAX gained 0.1%, and the French CAC 40 rose 0.16% while UK shares rose 0.85%.

Economics

The Johnson Redbook Retail Sales Index fell 2.4% during the first four weeks of June versus May.

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

 

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