Mid-Day Market Update: Oracle Drops On Downbeat Results; Radius Health Shares Surge

Midway through trading Thursday, the Dow traded up 1.14 percent to 18,140.40 while the NASDAQ climbed 1.33 percent to 5,132.32. The S&P also rose, gaining 0.98 percent to 2,121.04.

Leading and Lagging Sectors

Healthcare sector was the top gainer in the US market on Thursday. Meanwhile, top gainers in the sector included BioMarin Pharmaceutical Inc. BMRN, up 12 percent, and Synergy Pharmaceuticals Inc SGYP, up 8 percent.

In trading on Thursday, energy shares rose by just 0.4 percent. Meanwhile, top losers in the sector included Pacific Drilling SA PACD, down 13 percent, and Ocean Rig UDW Inc ORIG, off 5 percent.

Top Headline

Kroger Co KR reported better-than-expected earnings for the first quarter, but the company’s sales missed analysts’ estimates.

The Cincinnati, Ohio-based company reported quarterly net earnings of $619 million, or $1.25 per share, compared to $501 million, or $0.98 per share, in the year-ago quarter. Kroger's adjusted earnings in the year-ago quarter were $557 million, or $1.09 per share.

Its total sales rose 0.3 percent to $33.1 billion from $33.0 billion, while sales, excluding fuel, climbed 6.4 percent in the first quarter. Analysts were expecting earnings of $1.22 per share on revenue of $33.34 billion.

Equities Trading UP

Radius Health Inc RDUS shares shot up 17 percent to $60.50 after the company announced positive top-line data from ACTIVExtend trial including combined 25 month results.

Shares of Lumenis Ltd LMNS got a boost, shooting up 14 percent to $13.74 after the company agreed to be acquired by XIO Group for $14 per share in cash.

BioMarin Pharmaceutical Inc. BMRN shares were also up, gaining 12 percent to $138.15 following the announcement of positive BMN 111 data.

Equities Trading DOWN

Organovo Holdings Inc ONVO shares tumbled 14 percent to $4.48 after the company priced a $40 million public offering of common stock.

Shares of Oracle Corporation ORCL were down 8 percent to $41.16 after the company reported weaker-than-expected results for its fiscal fourth quarter.

Jabil Circuit, Inc. JBL was down, falling 7 percent to $22.52 after the company reported downbeat revenue for its fiscal third quarter and issued a weak revenue guidance for the current quarter.

Commodities

In commodity news, oil traded up 0.92 percent to $60.47, while gold traded up 2.31 percent to $1,204.00.

Silver traded up 2.62 percent Thursday to $16.37, while copper rose 0.77 percent to $2.63.

Eurozone

European shares were higher today. The eurozone’s STOXX 600 rose 0.06 percent, the Spanish Ibex Index jumped 0.67 percent, while Italy’s FTSE MIB Index gained 0.97 percent. Meanwhile, the German DAX jumped 0.80 percent, and the French CAC 40 rose 0.14 percent while UK shares gained 0.20 percent.

Economics

US jobless claims slipped by 12,000 to 267,000 in the week ended June 13. However, economists were projecting claims to reach 275,000 in the week.

The U.S. current account deficit increased to $113.3 billion in the first quarter, versus a revised $103.1 billion, in the fourth quarter.

The consumer price index gained 0.4 percent in May, versus economists’ expectations for a 0.5 percent growth. US core consumer prices increased 0.1 percent in May.

US Philadelphia Fed manufacturing index climbed to 15.20 in June, versus a prior reading of 6.70. However, economists were expecting a reading of 8.00.

The US Conference Board’s leading index rose 0.70 percent in May, versus economists’ expectations for a 0.40 percent growth.

Supplies of natural gas increased 89 billion cubic feet for the week ended June 12, 2015, the U.S. Energy Information Administration said. However, analysts were expecting a gain of 91 billion cubic feet to 95 billion cubic feet.

Data on money supply will be released at 4:30 p.m. ET.