Mid-Day Market Update: Gold Gains 2%; ShiftPixy Shares Plunge

Midway through trading Friday, the Dow traded up 0.44% to 28549.53 while the NASDAQ rose 0.99% to 11534.04. The S&P also rose, gaining 0.59% to 3467.29.

The U.S. has the highest number of coronavirus cases and deaths in the world, reporting a total of 7,607,950 cases with around 212,780 deaths. India confirmed a total of at least 6,906,150 confirmed cases and 106,490 deaths, while Brazil reported over 5,028,440 COVID-19 cases with 148,950 deaths. In total, there were at least 36,574,080 cases of COVID-19 worldwide with over 1,062,650 deaths, according to data compiled by Johns Hopkins University.

Leading and Lagging Sectors

Information technology shares jumped 1.1% on Friday. Meanwhile, top gainers in the sector included MicroVision, Inc. MVIS, up 13%, and Extreme Networks, Inc. EXTR, up 17%.

In trading on Friday, energy shares fell 1.1%.

Top Headline

Advanced Micro Devices Inc AMD is in late-stage discussions to acquire Xilinx Inc XLNX, and a deal could be finalized as soon as next week, according to the Wall Street Journal.

The Xilinx acquisition is estimated close to $30 billion, a record valuation in the semiconductor industry.

Equities Trading UP

VivoPower International PLC VVPR shares shot up 44% to $14.52 after the company announced its executives signed a definitive agreement to acquire 51% of a light electric vehicle company called Tembo e-LV.

Shares of Medigus Ltd. MDGS got a boost, shooting 26% to $1.91after the company announced it has signed a definitive agreement to acquire a controlling interest in Smart Repair Pro, Inc. and Purex, Inc. operating on the Amazon Marketplace.

Precigen, Inc. PGEN shares were also up, gaining 23% to $5.44 after the company announced that Merck KGaA raised its stake in the company.

Equities Trading DOWN

ShiftPixy, Inc. PIXY shares tumbled 24% to $2.7150 after the company announced the pricing of a 4 million share public offering at $3 per share.

Shares of Orbital Energy Group, Inc. OEG were down 21% to $0.85 after rising more than 29% on Thursday.

AgeX Therapeutics, Inc. AGE was down, falling 13% to $2.17. AgeX Therapeutics shares climbed 194% on Thursday following an amended 13D filing showing Juvenescence Limited has a 50% stake in the company.

Commodities

In commodity news, oil traded down 0.3% to $41.07, while gold traded up 2% to $1,933.20.

Silver traded up 4.3% Friday to $24.910 while copper rose 1% to $3.0715.

Euro zone

European shares were mixed today. The eurozone’s STOXX 600 gained 0.46%, the Spanish Ibex Index fell 0.62%, while Italy’s FTSE MIB Index slipped 0.02%. Meanwhile, the German DAX 30 slipped 0.07%, French CAC 40 climbed 0.6% and London’s FTSE 100 gained 0.68%.

Britain's economy expanded for the fourth consecutive month, rising by 2.1% in August. However, the country’s industrial production rose 0.3% in August, versus a 5.2% surge in July.

Economics

US wholesale inventories rose 0.4% for August.

The Baker Hughes North American rig count report for the latest week is scheduled for release at 1:00 p.m. ET.