Mid-Day Market Update: Wednesday's Movers, US Trade Declines, Treasury Warns of Debt Limit; Agilysys, Etsy, and More!

The United States’ trade demand weakness continues as the trade gap extends to 7.1 percent in the month of June. As the United States dollar continues to breakthrough month after month, demand is shrinking due to increased trading fees by overseas allies. The trade gap was heightened to a whopping $43.84 billion, up from the Wall Street Journal survey of economists expectation of $43.5 billion.

American import-purchases were boosted; US imports expanded 1.2 percent and exports dwindled 0.1 percent. The United States trade deficit expanded 0.6 percent in the first half of 2015 compared with the first half of 2014, while US exports dropped 2.9 percent and imports declined 2.2 percent.

Crucial factors impacting the US trade action include economic woes for European countries alongside a lackadaisical growth in Asia. To add fuel to the fire, attempts by global central banks to aid their own economies have resulted in the US dollar to rise drastically against other countries currencies.

Moving onto other news, the private sector added a total of nearly 185,000 jobs in the month of July; but economists that were surveyed by the Wall Street Journal expected job gains of ~215,000 in the month.

The United States Treasury warned that it may fail to raise the debt limit which could lead to its total cash balance to decline below the level target; the US Treasury stated Wednesday that it will hold borrowing at a steady pace in the upcoming months.

The US markets are edging higher on Wednesday as investors are awaiting Friday’s job report, which will hint at a possible interest rate hike in the upcoming months, or even sooner. The Dow Jones Industrial Index was up 0.60 percent, the S&P 500 Index increased 0.90 percent, the NASDAQ Composite was lifted 1.30 percent, the US Dollar Index rose 0.16 percent, and the crude oil WTI was heightened 1.11 percent in Wednesday’s midday session.

Stocks still continued to move:
Winners:
Tecumseh Products Company TECU skyrocketed 154 percent after the hermetically sealed compressors manufacturer entered into a definitive agreement to be acquired by an affiliate of Mueller Industries Inc MLI and Atlas Holdings for a transaction totalling to ~$123 million.

Finjan Holdings Inc FNJN soared 51 percent after the web and network cybersecurity technology developer announced a ruling in favor of it for nearly $40 million versus Blue Coat Systems Inc BCSI.

Agilysys Inc AGYS was heightened 27 percent after the marketer/developer of proprietary enterprise software reported Q1 loss; the company reported a loss of $185,000, or a loss of 1 cent per share on sales of $27.5 million, a 16 percent year over year quarterly growth, and a 23 percent increase in subscription revenues.

LGI Homes Inc LGIH was up 22 percent after the homebuilder posted Q2 earnings; LHI announced earnings of $14 million, or 66 cents per share on sales of $158.8 million (49.3 percent increase). The company expects full year earnings of about $2.15-$2.50 per share.

Chuy’s Holdings Inc CHUY was lifted 18 percent after the full-service “Tex-Mex” restaurant concept company reported Q2 earnings; the company reported earnings of 32 cents per share on sales of $75.4 million, up from analyst expectations of 25 cents per share.

Losers:
RetailMeNot Inc SALE dwindled 32 percent after the digital coupon marketplace company announced Q2 loss; the company reported a loss of $1.6 million or a loss of 3 cents per share, compared to a profit of $4.3 million a year earlier, or 8 cents per share.

One Horizon Group Inc OHGI declined 32 percent after the software and telecommunications developer/licensor announced late Tuesday a public offering of common stock. The company priced ~3 million of its common stock and warrants at the price of $1.75 per share.

Identiv Inc INVE was down 24 percent after the global security technology company expected revenues of ~$15.6 million versus the expected $22 million; the company also lowered 2015 revenue guidance to $65-$70 million versus the expected $90-$95 million.

Etsy Inc ETSY sunk 22 percent after the tech company reported Q2 losses; the company reported a loss of 7 cents per share versus the estimated earnings of 8 cents per share. It also reported sales of $61.4 million versus the expected $60 million. Second qurater gross merchandise sales grew at a slower pace than Q1.

Boot Barn Holdings Inc BOOT was down 19 percent after the lifestyle retail chain reported Q1 earnings; the company announced earnings of $2.3 million, or 8 cents per share, down from analyst expectations of 11 cents per share.