Skip to main content

Market Overview

Mid-Afternoon Market Update: Crude Oil Up 1.7%; Farfetch Shares Jump Following Q3 Results

Share:

Toward the end of trading Friday, the Dow traded up 0.52% to 27925.22 while the NASDAQ rose 0.62% to 8,531.17. The S&P also rose, gaining 0.54% to 3,113.26.

Leading and Lagging Sectors

Health care shares climbed 1.2% on Friday. Meanwhile, top gainers in the sector included Taro Pharmaceutical Industries Ltd. (NYSE: TARO), up 16%, and Vapotherm, Inc. (NYSE: VAPO), up 13%.

In trading on Friday, consumer staples shares fell 0.1%.

Top Headline

J C Penney Company Inc (NYSE: JCP) reported narrower-than-expected loss for its third quarter.

JC Penney reported third-quarter losses of $0.30 per share on Friday, which beat the analyst consensus estimate for a loss of $0.55 per share. The company reported quarterly sales of $2.5 billion, which missed the analyst consensus estimate of $2.51 billion.

Equities Trading UP

Farfetch Limited (NYSE: FTCH) shares shot up 29% to $9.66 after the company reported better-than-expected Q3 EPS and sales results.

Shares of RadNet, Inc. (NASDAQ: RDNT) got a boost, shooting up 14% to $18.09 after the company announced it would replace Gannett Co in the S&P SmallCap 600 starting November 20th, 2019.

Senmiao Technology Limited (NASDAQ: AIHS) shares were also up, gaining 171% to $1.15 after the company reported Q2 EPS and sales results up from last year.

Equities Trading DOWN

resTORbio, Inc. (NASDAQ: TORC) shares tumbled 85% to $1.16 after the company disclosed that its Phase 3 PROTECTOR 1 trial of RTB101 did not meet primary endpoint.

Shares of Limbach Holdings, Inc. (NASDAQ: LMB) were down 35% to $3.00 after the company announced weak Q3 earnings.

Yield10 Bioscience, Inc. (NASDAQ: YTEN) was down, falling 44% to $0.1505. Yield10 Bioscience priced 12.48 million Class A Units at $0.20 per unit for gross proceeds of $10.75 million.

Commodities

In commodity news, oil traded up 1.7% to $57.72, while gold traded down 0.3% to $1,468.40.

Silver traded down 0.5% Friday to $16.95, while copper rose 0.6% to $2.636.

Euro zone

European shares were higher today. The eurozone’s STOXX 600 rose 0.40%, the Spanish Ibex Index rose 0.96%, while Italy’s FTSE MIB Index climbed 0.46%. Meanwhile, the German DAX gained 0.47%, and the French CAC 40 rose 0.65% while UK shares rose 0.14%.

Economics

U.S. retail sales rose 0.3% for October, versus economists’ expectations for a 0.2% increase.

The New York Empire State manufacturing index fell to 2.9 in November, versus prior reading of 4. However, analysts were expecting a reading of 5.

US import prices declined 0.5% in October, versus a revised 0.1% increase in the prior month. Export prices fell 0.1% in October, versus a 0.2% drop in the previous month.

U.S. industrial production fell 0.8% for October, versus economists’ expectations for a 0.4% decline.

U.S. business inventories were unchanged for September, versus economists’ expectations for a 0.1% rise.

The total number of active U.S. oil rigs fell by 10 to 674 rigs this week, Baker Hughes Inc reported.

 

Related Articles (FTCH + AIHS)

View Comments and Join the Discussion!

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

Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
SPAC
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com