Skip to main content

Market Overview

Mid-Afternoon Market Update: Chipotle Slides On Earnings Miss; NeoGenomics Shares Jump


Toward the end of trading Wednesday, the Dow traded up 0.25 percent to 17,260.34 while the NASDAQ declined 0.19 percent to 4,871.56. The S&P also fell, dropping 0.07 percent to 2,029.43.

Leading and Lagging Sectors

In trading on Wednesday, industrials shares jumped by 0.11 percent. Top gainers in the sector included Bel Fuse, Inc. (NASDAQ: BELFA), up 18 percent, and Heritage-Crystal Clean, Inc. (NASDAQ: HCCI), up 11 percent.

In trading on Wednesday, energy shares dipped by 0.65 percent. Meanwhile, top losers in the sector included Ultra Petroleum Corp. (NYSE: UPL), down 10 percent, and Pioneer Energy Services Corp (NYSE: PES), off 7 percent.

Top Headline

General Motors Company (NYSE: GM) reported stronger-than-expected results for the third quarter on Wednesday.

The Detroit, Michigan-based company posted quarterly earnings of $1.4 billion, or $0.84 per share, versus $1.4 billion, or $0.81 per share, in the year-ago period. Excluding non-recurring items, the company's adjusted earnings surged 55 percent to $1.50 per share.

Its revenue slipped to $38.8 billion from $39.3 billion. However, analysts were expecting earnings of $1.19 per share on revenue of $38.55 billion.

Equities Trading UP

KLA-Tencor Corp (NASDAQ: KLAC) shares shot up 20 percent to $64.49. Lam Research Corporation (NASDAQ: LRCX) announced its plans to buy KLA-Tencor in a $10.6 billion deal. KLA-Tencor also reported upbeat quarterly earnings.

Shares of NeoGenomics, Inc. (NASDAQ: NEO) got a boost, shooting up 24 percent to $7.04 after the company announced plans to acquire Clarient Inc.

Tupperware Brands Corporation (NYSE: TUP) shares were also up, gaining 9 percent to $59.94 after the company reported upbeat quarterly results.

Equities Trading DOWN

VMware, Inc. (NYSE: VMW) shares tumbled 21 percent to $54.24 after the company issued a weak revenue forecast. EMC and VMware reported a new cloud services unit. Sterne Agee CRT downgraded VMware from Buy to Neutral and lowered the price target from $88.00 to $75.00.

Shares of Celestica Inc (NYSE: CLS) were down 17 percent to $10.89 on downbeat quarterly results.

Chipotle Mexican Grill, Inc. (NYSE: CMG) was down, falling 7 percent to $658.20 after the company reported downbeat earnings for the third quarter.


In commodity news, oil traded down 2.18 percent to $45.28, while gold traded down 0.89 percent to $1,167.00.

Silver traded down 1.30 percent Wednesday to $15.71, while copper fell 0.38 percent to $2.36.


European shares closed mostly higher today. The eurozone's STOXX 600 fell 0.01 percent, the Spanish Ibex Index rose 0.56 percent, while Italy's FTSE MIB Index declined 0.44 percent. Meanwhile, the German DAX climbed 0.89 percent, and the French CAC 40 jumped 0.46 percent, while U.K. shares rose 0.05 percent.


The MBA reported that its index of mortgage application activity climbed 11.80 percent in the week ended October 16, 2015.

Crude supplies gained 8 million barrels for the week ended October 16, the U.S. Energy Information Administration said. However, analysts were estimating supplies to rise 2.7 million barrels.


Related Articles (BELFA + HCCI)

View Comments and Join the Discussion!

Posted-In: Earnings M&A News Guidance Eurozone Commodities Global Intraday Update

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