Market Overview

Mid-Day Market Update: Dow Rises Over 200 Points; Vislink Technologies Shares Plunge

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Midway through trading Thursday, the Dow traded up 0.75% to 27062.82 while the NASDAQ rose 0.23% to 8221.70. The S&P also rose, gaining 0.27% to 3,001.17.

Leading and Lagging Sectors

Information technology shares rose 0.7% on Thursday. Meanwhile, top gainers in the sector included Inseego Corp. (NASDAQ: INSG), up 8%, and StoneCo Ltd. (NASDAQ: STNE), up 7%.

In trading on Thursday, real estate shares fell 1.3%.

Top Headline

Delta Air Lines, Inc. (NYSE: DAL) reported better-than-expected second-quarter results and raised its FY19 EPS forecast.

The company reported second-quarter earnings of $2.35 per share, which beat the analyst consensus estimate of $2.25. Delta Air Lines reported quarterly sales of $12.536 billion, which beat the analyst consensus estimate of $12.48 billion.

Delta Air raised its FY19 EPS to $6-$7 to $6.75-$7.25. The company said it expects Q3 EPS of $2.10-$2.40.

Equities Trading UP

Co-Diagnostics, Inc. (NASDAQ: CODX) shares shot up 41% to $1.23 after the company announced the launch of its Vector Smart NAM test to identify the presence of multiple diseases in mosquito populations.
Shares of Immunic, Inc. (NASDAQ: IMUX) got a boost, shooting up 63% to $17.82 after Chardan Capital initiated coverage on the company's stock with a Buy rating and a $40 price target.

Revolution Lighting Technologies, Inc. (NASDAQ: RVLT) shares were also up, gaining 148% to $0.6169 after the company was granted an extension to remain listed on Nasdaq.

Equities Trading DOWN

Vislink Technologies, Inc. (NASDAQ: VISL) shares tumbled 53% to $1.92. Vislink Technologies announced pricing offering of common stock and warrants at $2 per share for total proceeds of $12 million.

Shares of Inuvo, Inc. (NYSE: INUV) were down 20% to $0.2955 after the company priced a 13.75 million share common stock offering at $0.30 per share.

Eyenovia, Inc. (NASDAQ: EYEN) was down, falling 11% to $2.75. Eyenovia priced its 4.39 million share common stock offering at $2.78 per share.

Commodities

In commodity news, oil traded up 0.6% to $60.78, while gold traded up 0.1% to $1,413.80.

Silver traded down 0.1% Thursday to $15.205, while copper fell 0.3% to $2.686.

Euro zone

European shares were mixed today. The eurozone’s STOXX 600 fell 0.1%, the Spanish Ibex Index rose 0.3%, while Italy’s FTSE MIB Index gained 0.6%. Meanwhile, the German DAX dropped 0.33%, and the French CAC 40 fell 0.28% while UK shares fell 0.28%.

Economics

The Consumer Price Index increased 0.1% for June.

Initial jobless claims fell 13,000 to 209,000 in the latest week. However, economists were expecting a reading of 220,000.

Domestic supplies of natural gas gained 81 billion cubic feet for the week ended July 5, the U.S. Energy Information Administration reported. However, analysts expected a rise of 72 billion cubic feet.

The Treasury is set to auction 4-and 8-week bills at 1:00 p.m. ET.

New York Federal Reserve Bank President John Williams will speak in Albany, NY at 1:30 p.m. ET.

Federal Board of Governors Vice Chairman for Supervision Randal Quarles is set to speak in Washington, D.C. at 1:30 p.m. ET.

The U.S. Treasury budget report for June is schedule for release at 2:00 p.m. ET.

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

Minneapolis Federal Reserve Bank President Neel Kashkari will speak in Aberdeen, South Dakota at 5:00 p.m. ET.

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

 

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