Market Overview

Mid-Day Market Update: Tupperware Falls On Downbeat Earnings; Teradyne Shares Gain

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Midway through trading Wednesday, the Dow traded down 0.45% to 27226.76 while the NASDAQ rose 0.28% to 8274.70. The S&P also rose, gaining 0.07% to 3,007.52.

Leading and Lagging Sectors

Energy shares rose 0.4% on Wednesday. Meanwhile, top gainers in the sector included U.S. Well Services, Inc. (NASDAQ: USWS), up 6%, and NextDecade Corporation (NASDAQ: NEXT), up 4%.

In trading on Wednesday, health care shares fell 0.6%.

Top Headline

Caterpillar (NYSE: CAT) reported downbeat earnings for its second quarter.

Caterpillar reported second-quarter earnings of $2.83 per share, which missed the analyst consensus estimate of $3.12. The company reported quarterly sales of $14.432 billion, which missed the analyst consensus estimate of $14.44 billion by 0.06%.

Equities Trading UP

SigmaTron International, Inc. (NASDAQ: SGMA) shares shot up 20% to $3.17 after the company reported Q4 results.

Shares of Manhattan Associates, Inc. (NASDAQ: MANH) got a boost, shooting up 18% to $86.24 after the company reported better-than-expected Q2 EPS and sales results. The company also raised FY19 EPS and sales guidance above analyst estimates.

Teradyne, Inc. (NYSE: TER) shares were also up, gaining 17% to $56.47 after the company reported better-than-expected Q2 EPS and sales results. The company also issued Q3 EPS and sales guidance on the high end of analyst estimates.

Equities Trading DOWN

Healthcare Services Group, Inc. (NASDAQ: HCSG) shares tumbled 22% to $23.59 after reporting downbeat Q2 results.

Shares of iRobot Corporation (NASDAQ: IRBT) were down 19% to $73.05 after the company reported Q2 EPS and sales results down from last year. The company also issued FY19 sales guidance below analyst estimates.

Tupperware Brands Corporation (NYSE: TUP) was down, falling 17% to $14.74 after the company reported downbeat Q2 results and lowered its guidance.

Commodities

In commodity news, oil traded down 0.4% to $56.52, while gold traded up 0.1% to $1,422.50.

Silver traded up 0.8% Wednesday to $16.61, while copper rose 0.4% to $2.711.

Euro zone

European shares were mostly higher today. The eurozone’s STOXX 600 gained 0.05%, the Spanish Ibex Index rose 0.52%, while Italy’s FTSE MIB Index climbed 0.57%. Meanwhile, the German DAX gained 0.26%, and the French CAC 40 fell 0.22% while UK shares fell 0.73%.

Economics

The IHS Markit flash U.S. services PMI increased to 52.2 in July versus 51.5, while manufacturing PMI slipped to 50.0 in July versus 50.6.

New home sales increased 7% to 646,000 last month.

U.S. crude supplies dropped 10.8 million barrels for the week ended July 19, the Energy Information Administration reported. However, analysts projected a fall of 4.4 million barrels.

The Treasury is set to auction 5-year notes at 1:00 p.m. ET.

 

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