Market Overview

Mid-Afternoon Market Update: Crude Oil Up 1.5%; Roku Shares Drop Following Morgan Stanley Downgrade


Toward the end of trading Monday, the Dow traded down 0.65% to 27869.46 while the NASDAQ fell 0.88% to 8,588.99. The S&P also fell, dropping 0.56% to 3,123.39.

Leading and Lagging Sectors

Energy shares climbed 0.2% on Monday. Meanwhile, top gainers in the sector included The Kimbell Royalty Partners LP (NYSE: KRP), up 8%, and McDermott International Inc (NYSE: MDR), up 6%.

In trading on Monday, real estate shares fell 1.3%.

Top Headline

Hostess Brands Inc (NASDAQ: TWNK) will acquire Voortman Cookies, a manufacturer of branded wafers and sugar-free specialty cookies, from Swander Pace Capital for approximately $320 million in cash. The transaction is expected to close in early January.

The company plans to finance the $320 million transaction by using cash on its balance sheet, along with secured financing commitments from Credit Suisse and Citi.

Equities Trading UP

Kodiak Sciences Inc. (NASDAQ: KOD) shares shot up 56% to $46.25 after the company reported the sale of future royalties on KSI-301 for $225 million to Baker Bros. Advisors.

Shares of ASLAN Pharmaceuticals Limited (NASDAQ: ASLN) got a boost, shooting up 38% to $5.26 after the company reported positive data from its proof-of-concept study of ASLAN004.

NF Energy Saving Corporation (NASDAQ: BIMI) shares were also up, gaining 29% to $3.39 after the company announced it would acquire Chongqing Guanzan Technology for RMB 100 million.

Equities Trading DOWN

Roku, Inc. (NASDAQ: ROKU) shares tumbled 14% to $137.77 after Morgan Stanley downgraded the company's stock from equal-weight to underweight and announced a $110 price target.

Shares of Aqua Metals, Inc. (NASDAQ: AQMS) were down 41% to $0.7901 after the company announced a significant fire in one of its plants.

Just Energy Group Inc. (NYSE: JE) was down, falling 15% to $2.3250 after the company announced it would suspend its dividend on its Series A preferred stock.


In commodity news, oil traded up 1.5% to $55.98, while gold traded down 0.2% to $1,470.20.

Silver traded down 0.6% Monday to $17.005, while copper fell 0.5% to $2.6495.

Euro zone

European shares closed lower today. The eurozone’s STOXX 600 dropped 1.58%, the Spanish Ibex Index fell 2.09%, while Italy’s FTSE MIB Index declined 2.28%. Meanwhile, the German DAX dropped 2.05%, and the French CAC 40 fell 2.01% while UK shares fell 0.82%.


The IHS Markit manufacturing PMI rose to 52.6 in November, compared to a preliminary reading of 52.2 and versus 51.3 in October.

The ISM manufacturing PMI declined to 48.1 in November, compared to 48.3 in October.

Construction spending fell 0.8% in October 2019, versus a revised 0.3% decline in the prior month.

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


Related Articles (AQMS + ASLN)

View Comments and Join the Discussion!
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.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
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

OGEN: AG013 Phase 2 Trial Enrollment Complete…

Black Friday 2019 Winners And Losers: Amazon, Macy's, Shopify And More