Market Overview

Mid-Day Market Update: Crude Oil Down 2.5%; 21Vianet Group Shares Jump

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Midway through trading Monday, the Dow traded up 0.12% to 26848.07 while the NASDAQ rose 0.08% to 8,063.10. The S&P also rose, gaining 0.01% to 2,970.52.

Leading and Lagging Sectors

Health care shares climbed 0.3% on Monday. Meanwhile, top gainers in the sector included Enochian Biosciences Inc. (NASDAQ: ENOB), up 14%, and Adverum Biotechnologies, Inc. (NASDAQ: ADVM), up 13%.

In trading on Monday, energy shares fell 0.5%.

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 189% to $15.17 after surging 193.30% on Friday.

Shares of 21Vianet Group, Inc. (NASDAQ: VNET) surged 16% to $8.37 after the company won a contract with Ali Baba in which the company will help deploy internet services.

NF Energy Saving Corporation (NASDAQ: BIMI) was up, rising 279% to $5.54. NF Energy Saving completed the acquisition of Boqi Zhengji Pharmacy Chain Co., Ltd.

Equities Trading DOWN

Parsley Energy, Inc. (NYSE: PE) shares tumbled 10% to $15.20 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 8% to $36.22 after the company disclosed additional interim Phase I/IIa trial update for RGX-314 for the treatment of wet AMD.

IPG Photonics Corporation (NASDAQ: IPGP) was down, falling 7% to $126.06. Needham downgraded IPG Photonics from Buy to Hold.

Commodities

In commodity news, oil traded down 2.5% to $53.34, while gold traded up 0.5% to $1,496.40.

Silver traded up 0.7% Monday to $17.66, while copper fell 0.2% to $2.623.

Euro zone

European shares were lower today. The eurozone’s STOXX 600 fell 0.47%, the Spanish Ibex Index fell 0.31%, while Italy’s FTSE MIB Index slipped 0.21%. Meanwhile, the German DAX dropped 0.18%, and the French CAC 40 fell 0.36% while UK shares fell 0.46%.

Economics

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

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

 

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