Skip to main content

Market Overview

Mid-Day Market Update: Crude Oil Down 2%; Outerwall Shares Spike Higher



Midway through trading Monday, the Dow traded down 0.53 percent to 18,473.16 while the NASDAQ declined 0.18 percent to 5,090.89. The S&P also fell, dropping 0.49 percent to 2,164.28.

Leading and Lagging Sectors

On Monday, cyclical consumer goods & services shares climbed by 0.15 percent. Top gainers in the sector included Sears Holdings Corp (NASDAQ: SHLD) and McClatchy Co (NYSE: MNI).

In trading on Monday, energy shares fell by 1.85 percent. Meanwhile, top losers in the sector included Unit Corporation (NYSE: UNT), down 8 percent, and Denbury Resources Inc. (NYSE: DNR), down 7 percent.

Top Headline

Verizon Communications Inc. (NYSE: VZ) confirmed Friday's reports that it will acquire some of Yahoo! Inc. (NASDAQ: YHOO)’s assets.

Verizon said in a press release it has reached an agreement to acquire Yahoo's operating business for approximately $4.83 billion in cash.

Equities Trading UP

Outerwall Inc (NASDAQ: OUTR) shares shot up 11 percent to $52.28 after the company agreed to be purchased by certain funds managed by affiliates of Apollo Global Mgmt for $52 per share in cash.

Shares of Sprint Corp (NYSE: S) got a boost, shooting up 24 percent to $5.70 after the company released its Q1 results. Sprint reported EBITDA of $2.5 billion and revenue of $8 billion.

Silicom Ltd. (NASDAQ: SILC) shares were also up, gaining 12 percent to $35.10 as the company reported posted upbeat results for its second quarter.

Equities Trading DOWN

Tobira Therapeutics Inc (NASDAQ: TBRA) shares dropped 58 percent to $4.71 as the company reported that its Phase 2b clinical trial of cenicriviroc missed its primary endpoint.

Shares of Santander Consumer USA Holdings Inc (NYSE: SC) were down 10 percent to $10.67 after the company reported that it will delay the release of Q2 financial results, earlier scheduled for July 27, 2016.

Chembio Diagnostics Inc (NASDAQ: CEMI) was down, falling around 10 percent to $7.58. Chembio Diagnostics reported an offering of $10 million common shares. The company also reported preliminary Q2 revenue of $3.2 million to $3.3 million and net loss of $8.3 million to $8.5 million.


In commodity news, oil traded down 2.08 percent to $43.27 while gold traded down 0.44 percent to $1,325.60.

Silver traded down 0.78 percent Monday to $19.54, while copper fell 0.54 percent to $2.22.


European shares were mostly lower today. The eurozone’s STOXX 600 fell 0.06 percent, the Spanish Ibex Index slipped 0.52 percent, while Italy’s FTSE MIB Index dropped 0.66 percent. Meanwhile the German DAX rose 0.23 percent, and the French CAC 40 fell 0.17 percent, while U.K. shares fell 0.37 percent.


The Dallas Fed manufacturing business index rose to -1.3 in July, versus a prior reading of -18.30. However, economists were expecting a reading of -10.00.

The Treasury will auction 2-year notes at 1:00 p.m. ET.


Related Articles (SHLD + MNI)

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