Mid-Afternoon Market Update: Insperity Falls Following Q3 Earnings; Superior Industries International Shares Climb

Toward the end of trading Monday, the Dow traded up 0.39% to 27453.37 while the NASDAQrose 0.64% to 8,439.92. The S&P also rose, gaining 0.45% to 3,080.61.  

Leading and Lagging Sectors 

Energy shares climbed 3.1% on Monday. Meanwhile, top gainers in the sector included KLX Energy Services Holdings, Inc. KLXE, up 17%, and Gulfport Energy Corporation GPOR, up 17%. 

In trading on Monday, utilities shares fell 1.1%. 

Top Headline 

Sysco Corporation SYY reported better-than-expected earnings for its first quarter, while sales missed estimates. 

Sysco reported first-quarter earnings of $0.98 per share, which beat the analyst consensus estimate of $0.97 per share. The company posted quarterly sales of $15.3billion, versus analysts’ estimates of $15.5 billion.  

EquitiesTrading UP  

Camber Energy, Inc. CEI shares shot up 53%to $4.04. 

Shares of Wright Medical Group N.V.  WMGI got a boost, shooting up 32% to $29.00 after the company announced it would be acquired by Stryker SYK for $30.75 per share in cash. 

Superior Industries International,Inc. SUP shares were also up, gaining 27% to $3.37 afterreporting Q3 results. 

Equities Trading DOWN 

Insperity, Inc. NSP shares tumbled 32% to$73.43 after the company reported worse-than-expected Q3 EPS results. The company also issued Q4 and FY19 EPS guidance below analyst estimates. 

Shares of Ceragon Networks Ltd. CRNT were down 32% to $2.0250 after the company reported downbeat Q2results. 

Under Armour, Inc. UAA was down, falling 19% to $17.22 despite a Q3 earnings beat as the company is facing a federal investigation into its accounting practices.  

Commodities 

 In commodity news, oil traded up1.8% to $57.22, while gold traded down 0.1% to $1,510.70. Silver traded down 0.1% Monday to$18.05, while copper rose 0.6% to $2.67.

 
Euro zone  

European shares were lower today. The eurozone’s STOXX 600 rose 1%, the Spanish Ibex Index rose 0.95%, while Italy’s FTSE MIB Index climbed 1.63%. Meanwhile, the German DAX gained 1.35%, and the French CAC 40 rose 1.08% while UK shares rose 0.92%.

 
Economics 

U.S.factory orders fell 0.6% for September, versus economists’ expectations for a 0.3% decline. 

San Francisco Federal Reserve Bank President Mary Daly is set to speak in New York at 3:05 p.m. ET.