Market Overview

Mid-Day Market Update: Hortonworks Drops Following Weak Results; Freshpet Shares Spike Higher



Midway through trading Friday, the Dow traded up 0.89 percent to 18,516.14 while the NASDAQ climbed 1.11 percent to 5,223.52. The S&P also rose, gaining 0.81 percent to 2,181.70.

Leading and Lagging Sectors

On Friday, the financial sector proved to be a source of strength for the market. Leading the sector was strength from Ashford Hospitality Trust, Inc. (NYSE: AHT) and eHealth, Inc. (NASDAQ: EHTH).

In trading on Friday, utilities shares fell by 0.61 percent. Meanwhile, top losers in the sector included Sempra Energy (NYSE: SRE), down 2.5 percent, and AES Corp (NYSE: AES), down 2.5 percent.

Top Headline

Priceline Group Inc (NASDAQ: PCLN) reported stronger-than-expected earnings for its second quarter on Thursday.

EPS of $13.93 came in well above the Street’s consensus of $12.69, while revenue of $2.56 billion missed estimates of $2.6 billion.

Equities Trading UP

Freshpet Inc (NASDAQ: FRPT) shares shot up 27 percent to $10.52. Freshpet reported a Q2 loss of $0.10 per share on revenue of $33 million.

Shares of MasTec, Inc. (NYSE: MTZ) got a boost, shooting up 16 percent to $28.18 after the company posted better-than-expected Q2 results and raised its FY16 outlook.

Kratos Defense & Security Solutions, Inc (NASDAQ: KTOS) shares were also up, gaining 17 percent to $5.31 as the company reported stronger-than-expected Q2 results.

Equities Trading DOWN

Hortonworks Inc (NASDAQ: HDP) shares dropped 28 percent to $9.06 after the company reported a wider-than-expected loss for the second quarter.

Shares of Computer Programs & Systems, Inc. (NASDAQ: CPSI) were down 30 percent to $27.18 after the company posted weaker-than-expected Q2 results.

Sierra Wireless, Inc. (USA) (NASDAQ: SWIR) was down, falling around 18 percent to $14.08. Sierra Wireless posted better-than-expected quarterly earnings, but issued a weak outlook.


In commodity news, oil traded down 0.24 percent to $41.83 while gold traded down 1.15 percent to $1,351.70.

Silver traded down 2.36 percent Friday to $19.96, while copper fell 0.44 percent to $2.16.


European shares were higher today. The eurozone’s STOXX 600 rose 0.64 percent, the Spanish Ibex Index rose 1.29 percent, while Italy’s FTSE MIB Index gained 1.7 percent. Meanwhile the German DAX rose 0.73 percent, and the French CAC 40 gained 1 percent, while U.K. shares rose 0.82 percent.


The U.S. economy added 255,000 new jobs in July, versus economists’ estimates for an addition of 180,000 jobs. The unemployment rate remained unchanged 4.9 percent in the month.

The U.S. trade deficit widened 8.7 percent to $44.5 billion in June. However, economists were projecting the trade gap to increase to $43.2 billion in the month. U.S. imports rose 1.9 percent to $227.7 billion in June, while exports rose 0.3 percent to $183.2 billion.

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

Data on consumer credit for June will be released at 3:00 p.m. ET.

Posted-In: Earnings News Eurozone Commodities Global Intraday Update Markets Movers


Related Articles (AES + AHT)

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