Market Overview

Mid-Afternoon Market Update: NASDAQ Gains 1%; Stratasys Shares Drop Following Disappointing Results

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Toward the end of trading Tuesday, the Dow traded down 0.05 percent to 18,859.82 while the NASDAQ climbed 1.01 percent to 5,271.05. The S&P also rose, gaining 0.45 percent to 2,173.87.

Leading and Lagging Sectors

Tuesday afternoon, energy shares gained by 2.24 percent. Meanwhile, top gainers in the sector included Pioneer Energy Services Corp (NYSE: PES), and Resolute Energy Corp (NYSE: REN).

In trading on Tuesday, basic materials shares fell by 0.72 percent. Meanwhile, top losers in the sector included Vale SA (ADR) (NYSE: VALE), down 6 percent, and BHP Billiton plc (ADR) (NYSE: BBL), down 5 percent.

Top Headline

Home Depot Inc (NYSE: HD) reported better-than-expected results for its third quarter.

Home Depot earned $1.60 per share in the quarter, beating analysts’ estimates of $1.58 per share. Its revenue of $23.15 billion beat estimates by $0.1 billion.

Comparable worldwide store sales for the quarter rose 5.5 percent, while comparable store sales in the U.S. gained 5.9 percent.

Equities Trading UP

Seanergy Maritime Holdings Corp. (NASDAQ: SHIP) shares shot up 96 percent to $5.39 after surging 25.00 percent on Monday.

Shares of New Concept Energy, Inc. (NYSE: GBR) got a boost, shooting up 35 percent to $2.03. New Concept Energy reported a Q3 loss of $0.08 per share, versus a year-ago loss of $0.04 per share.

Euroseas Ltd. (NASDAQ: ESEA) shares were also up, gaining 124 percent to $4.91 after climbing 55.29 percent on Monday.


Equities Trading DOWN

Synthetic Biologics Inc (NYSE: SYN) shares dropped 39 percent to $0.869. Synthetic Biologics priced 25 million shares at $1.00 per share.

Shares of Amplify Snack Brands Inc (NYSE: BETR) were down 25 percent to $10.11 after the company posted downbeat quarterly earnings.

Stratasys, Ltd. (NASDAQ: SSYS) was down, falling around 17 percent to $17.06 after the company posted downbeat Q2 results.


Commodities


In commodity news, oil traded up 4.62 percent to $45.97 while gold traded up 0.14 percent to $1,223.40.

Silver traded up 0.57 percent Tuesday to $16.99, while copper fell 0.69 percent to $2.50.

Eurozone

European shares closed mostly higher today. The eurozone’s STOXX 600 gained 0.27 percent, the Spanish Ibex Index rose 0.33 percent, while Italy’s FTSE MIB Index fell 0.02 percent. Meanwhile the German DAX rose 0.39 percent, and the French CAC 40 climbed 0.62 percent while U.K. shares rose 0.59 percent.

Economics

U.S. retail sales rose 0.8 percent for October, versus economists’ expectations for a 0.7 percent growth.

The NY Empire State manufacturing index increased to 1.50 for November, versus a prior reading of -6.80. Economists expected a reading of -2.50.

Import prices rose 0.50 percent in October, versus expectations for a 0.40 percent gain. Export prices gained 0.20 percent, compared to economists’ estimates of a 0.20 percent growth.

The Johnson Redbook Retail Sales Index declined 0.1 percent during the first two weeks of November versus October.

U.S. business inventories rose 0.10 percent for September, versus economists’ expectations for a 0.20 percent growth.

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

 

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