Skip to main content

Market Overview

Mid-Day Market Update: LiveRamp Surges Following Q4 Results; Syndax Pharmaceuticals Shares Plummet


Midway through trading Friday, the Dow traded down 0.56% to 24338.21 while the NASDAQ fell 0.19% to 9266.93. The S&P also fell, dropping 0.33% to 2938.92.

The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 1,577,750 cases with around 94,720 deaths. Brazil confirmed a total of over 310,080 COVID-19 cases with 20,040 deaths, while Russia reported a total of at least 326,440 confirmed cases and 3,240 deaths. In total, there were at least 5,125,610 cases of COVID-19 worldwide with over 333,380 deaths, according to data compiled by Johns Hopkins University.

Leading and Lagging Sectors

Real estate shares climbed 1.3% on Friday. Meanwhile, top gainers in the sector included Altisource Portfolio Solutions S.A. (NASDAQ: ASPS), up 9%, and American Tower Corporation (NYSE: AMT), up 5%.

In trading on Friday, energy shares dipped 1.4%.

Top Headline

Alibaba Group Holding Ltd - ADR (NYSE: BABA) reported better-than-expected results for its fourth quarter.

Alibaba reported quarterly earnings of $1.30 per share on Friday, which beat the analyst consensus estimate of 87 cents. The company reported quarterly sales of $16.144 billion, which beat the analyst consensus estimate of $15.200 billion. Domestic same-store sales slipped 5.7% during the quarter.

Equities Trading UP

LiveRamp Holdings, Inc. (NYSE: RAMP) shares shot up 21% to $47.03 after reporting upbeat Q4 results.

Shares of Tetraphase Pharmaceuticals, Inc. (NASDAQ: TTPH) got a boost, shooting 24% to $2.86. Tetraphase Pharmaceuticals, which has been pursued by multiple companies, said its board has determined that the latest proposal from Melinta Therapeutics, Inc. is a "Superior Offer." Melinta has offered $27 million in cash, plus an additional $12.5 million in cash potentially payable under contingent value rights to be issued in the proposed acquisition.

Navidea Biopharmaceuticals, Inc. (NYSE: NAVB) shares were also up, gaining 85% to $2.3499 after the company announced positive preliminary results from the second interim analysis of its ongoing NAV3-31 Phase 2B study.

Equities Trading DOWN

Recon Technology, Ltd. (NASDAQ: RCON) shares tumbled 45% to $2.05 after the company reported pricing of approximately $2.1 million registered direct offering.

Shares of Geron Corporation (NASDAQ: GERN) were down 17% to $1.635 after the company reported pricing of public offering of common stock and warrants.

Syndax Pharmaceuticals, Inc. (NASDAQ: SNDX) was down, falling 23% to $15.72 after the company said a late-stage study that evaluated its investigational compound entinostat along with exemestane in patients with HR+, HER2- breast cancer who have progressed on a non-steroidal aromatase inhibitor did not achieve the primary endpoint of demonstrating a statistically significant overall survival benefit over hormone therapy alone.


In commodity news, oil traded down 3.7% to $32.67, while gold traded up 0.8% to $1,736.40.

Silver traded up 2% Friday to $17.71, while copper fell 2.1% to $2.38.

Euro zone

European shares were mostly higher today. The eurozone’s STOXX 600 slipped 0.01%, the Spanish Ibex Index rose 0.23%, while Italy’s FTSE MIB Index rose 1.22%. Meanwhile, the German DAX gained 0.11%, and the French CAC 40 rose 0.18% while UK shares fell 0.25%.


The Baker Hughes North American rig count report for the recent week will be released at 1:00 p.m. ET.


Related Articles (AMT + ASPS)

View Comments and Join the Discussion!

Posted-In: Mid-Day Market UpdateNews Penny Stocks 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.
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