Market Overview

Mid-Morning Market Update: Markets Mostly Flat; Aecom Sells Management Services Business

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Following the market opening Monday, the Dow traded up 0.09% to 26841.43 while the NASDAQ rose 0.01% to 8057.75. The S&P fell 0.02% to 2,969.69.

Leading and Lagging Sectors

Information technology shares climbed 0.1% on Monday. Meanwhile, top gainers in the sector included 21Vianet Group, Inc. (NASDAQ: VNET), up 15%, and EXFO Inc. (NASDAQ: EXFO), up 3%.

In trading on Monday, energy shares fell 1.1%.

Top Headline

Aecom (NYSE: ACM) will sell its management services business to the affiliates of American Securities LLC and Lindsay Goldberg for $2.405 billion.

The company also has narrowed fiscal year 2019 EPS guidance from $2.60-2.90 to $2.75 versus the $2.77 analyst estimate. Aecom expects fiscal 2019 adjusted EBITDA and adjusted EPS to approximate the mid-point of the company's prior guidance range, which would reflect approximately $940 million and $2.75, respectively.

Equities Trading UP

Synthesis Energy Systems, Inc. (NASDAQ: SES) shares shot up 122% to $11.62 after surging 193.30% on Friday.

Shares of 21Vianet Group, Inc. (NASDAQ: VNET) surged 16% to $8.38 after the company won a contract with Ali Baba in which the company will help deploy internet services.

Yuma Energy, Inc. (NYSE: YUMA) was up, rising 21% to $3.35.

Equities Trading DOWN

Parsley Energy, Inc. (NYSE: PE) shares tumbled 12% to $14.98 after the company announced it would acquire Jagged peak for $2.27B in stock and assumption of debt.

Shares of REGENXBIO Inc. (NASDAQ: RGNX) were down 9% to $35.87 after the company disclosed additional positive interim Phase I/IIa trial update for RGX-314 for the treatment of wet AMD.

Luokung Technology Corp. (NASDAQ: LKCO) was down, falling 14% to $22.9799.

Commodities

In commodity news, oil traded down 1.9% to $53.65, while gold traded up 0.8% to $1,500.50.

Silver traded up 0.5% Monday to $17.635, while copper fell 1% to $2.6015.

Euro zone

European shares were lower today. The eurozone’s STOXX 600 fell 0.9%, the Spanish Ibex Index fell 0.7%, while Italy’s FTSE MIB Index slipped 0.5%. Meanwhile, the German DAX dropped 0.6%, and the French CAC 40 fell 0.7% while UK shares fell 0.6%.

Economics

On the economics calendar Monday, there is no important data due out.

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

 

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