Mid-Day Market Update: InspireMD Jumps Following Positive CGuard Results; Neovasc Shares Drop

Midway through trading Tuesday, the Dow traded down 0.13 percent to 18,119.11 while the NASDAQ declined 0.18 percent to 5,179.74. The S&P also rose, dropping 0.22 percent to 2,121.49. Leading and Lagging Sectors Tuesday morning, basic materials shares gained by 0.65 percent. Meanwhile, top gainers in the sector included Westmoreland Coal Company WLB, and CONSOL Energy Inc. CNX. In trading on Tuesday, utilities shares fell by 0.94 percent. Meanwhile, top losers in the sector included Companhia Energetica Minas Gerais (ADR) CIG, down 5 percent, and York Water Co YORW, down 3 percent. Top Headline Pfizer Inc PFE delivered lower than expected earnings for the third quarter The company reported adjusted EPS of $0.61, missing expectations by $0.01. Its total revenue of $13.045 billion came in line with the estimates. Pfizer reduced top end of full year adjusted EPS outlook from $2.38-$2.48 to $2.38-$2.43. However, it boosted lower end of revenue forecast from $51-$53.0 billion to $52-$53 billion. Equities Trading UP InspireMD Inc NSPR shares shot up 153 percent to $3.57 following positive CGuard results. Shares of Skyline Medical Inc SKLN got a boost, shooting up 26 percent to $1.97 after the company disclosed that it has signed an agreement for GLG Pharma to be exclusive distributor of STREAMWAY System in the U.K. Oculus Innovative Sciences, Inc. OCLS shares were also up, gaining 24 percent to $4.94 after the company disclosed that it has sold its Latin America business to Invekra S.A.P.I. de C.V. for $19.5 million in cash. Equities Trading DOWN Neovasc Inc (US) NVCN shares dropped 28 percent to $0.745 as the company announced an update in litigation with CardiAQ. Neovasc will pay $91 million in damages. Shares of Instructure Inc INST were down 25 percent to $19.10. Instructure reported a Q3 loss of $0.34 per share on revenue of $30.14 million. The company also issued a weak forecast. tronc Inc TRNC was down, falling around 18 percent to $9.91 after Gannett Co Inc GCI dropped its bid to acquire the company. Commodities In commodity news, oil traded up 0.47 percent to $47.08 while gold traded up 1.27 percent to $1,289.30. Silver traded up 3.62 percent Tuesday to $18.44, while copper rose 1.13 percent to $2.23. Eurozone European shares were lower today. The eurozone's STOXX 600 slipped 0.55 percent, the Spanish Ibex Index fell 0.53 percent, while Italy's FTSE MIB Index declined 0.76 percent. Meanwhile the German DAX slipped 0.59 percent, and the French CAC 40 dropped 0.40 percent while U.K. shares fell 0.06 percent. Economics The Federal Open Market Committee will begin two-day policy meeting today. The Johnson Redbook Retail Sales Index declined 0.1 percent during October versus Septem. The ISM manufacturing index rose to 51.90 in October, versus a prior reading of 51.50. Economists expected a reading of 51.70. U.S. construction spending declined 0.4 percent for September, versus economists' expectations for a 0.4 percent growth.